Average Days from Notice of Default to Notice of Trustee Sale

198

Average Days from Notice of Trustee Sale to Trustee Sale

86

Total Average Days in Foreclosure

284

Time To Acknowledge

TBD

Time to Approve

TBD

Commissions

Full Release Available

TBD

A new angle. We hear that American Home Mortgage has implemented a short sale administration fee of 1% of the purchase price that is charged to the buyers for processing the short sale. The fee is over and above the amount of the total sales price. So, it likely goes to the servicer, and not the investor. The problem is that it probably can’t be financed, and it is probably not an allowable buyer expense on an FHA financed transaction.
Communication is inconsistent. Sometimes it will be good and other times it will be poor. Make sure you read your approvals carefully. We have heard that they have added a $5,000 closing cost fee to the approval that was not mentioned on any previous documents.
They also now handle the Option One portfolio.

You can find them by going to www.ahmsi3.com or you can call their home retention team at 877-304-3100

Contact Info: Loss Mit Dept
Phone:(800) 648-9605 or 
(888) 275-2648 or 877-304-3100
Fax: (949) 790-8545
https://www.ahmsi3.com/servicing/BAT_solutions.asp (direct link to required docs and checklists)