I just took a listing and the borrowers loan is with Ocwen. I called to get there fax number to send over the 3RD party authorization form and to initate the Short Sale. The customer service rep at Ocwen told me I couldn't initate a Short Sale and the borrower would have to call first. They mentioned about having the buyer exhaust every possible loan mod program before doing a SS. I told them that the buyer has lost his job over 6 months ago and has NO income to support a loan mod. Plus he has been getting the run around from them for the last 4 months about a loan mod and would rather SS then let it go to foreclosure. Has anybody had similar problems with Ocwen and how are they to work with on SS?
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Ocwen is by far the hardest bank to work with for Short Sales. They review, re review, and so on.......
I have done quite a few and they take the cake.