We have been working on a file with Chase. The finally did a BPO and they have agreed to accept the price that we submitted on the hud. We get a call from the negotiator that they are sending over the approval letter. Two weeks later we still have not recieved a approval letter. So we call the bank to inquire and inform them of the changes that recently took place at the property. The prperty was not winterized and the tenant's electricity and heating was turned off. The pipes busted in over 15… Continue

Equator, the default-servicing industry technology leader is pleased to announce the launch of its new Agent-Initiated Short Sale feature. Starting December 8th, Agents have the ability to request a Short Sale through the Agent Portal on www.equator.com. Only certain industry leading Lenders are currently allowing Agents to initiate Short Sales through Equator. Since it is such a great way for agents to help their clients, we expect many more Lenders to follo… Continue

Thanks for making the connection.

Larry
http://www.reofunder.com
Home of 100% Funding For RE short sales/reos

I have noticed a trend that when BPO orders flood in, REO assignments are quiet. My new REO assignments have been down the past 2 weeks but BPO work is overwhelming. If the trend is like the past year, I anticipate seeing REO actiivity picking up within the next few weeks as that is how it seems to go.I am very fortunate to have great REO clients, a solid BPO business and short sale inventory as well. When you have multiple spokes in your business model, it balances it out.

I want to share information on a couple of lenders I have dealt with. I don't want to sound negative, but I feel everyone should be aware of Lenders that are causing what I feel are serious issues. All parties should be aware of this before entering into a short sale contract.

Washington (aka now Chase) in 2nd position and Litton in 1st position - a loan that was originated before Chase took over Washington Mutual will cause you grief if Washington Mutual is in second position and Litton is in… Continue