- Average Days from Notice of Default to Notice of Trustee Sale
- Average Days from Notice of Trustee Sale to Trustee Sale
- Total Average Days in Foreclosure
- Time To Acknowledge
- 3-5 days
- Time to Approve
- 60+ days
- Full Release Available
2010 Ocwen acquired Home Eq Servicing. June 2011 they just purchased Litton.
1sts – Still Erratic. They are one of the largest independent servicers following the acquisition of HomeEq. We hear again and again that Ocwen will not postpone trustee sale dates to accomodate a Short Sale – even if it just about ready to close. If it has a trustee sale date set then don’t even bother with attempting to contact them about a short sale. The bright spot is that they seem to change their policies on a regular basis so this could change at any time.
2nds – Ocwen has been one of the easiest to work with on junior liens from the beginning. They can, however, be demanding in terms of making agents work hard to get closing date extensions.
We hear that a short sale with Ocwen could drag on for over 2 years. They appear to be much better at modifying loans than approving short sales.
Loan Resolution Dept
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