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Ocwen
Short Sale Report
| Time to Acknowledge |
Time to Approve |
Commissions | Full Release Available |
Comments |
| 3-5 days | 60+ days | 5% | usually |
1sts - Still Erratic. Ocwen will not postpone trustee sale dates to accomodate a Short Sale - even if it just about ready to close. 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.
Comments
The process on the 1st has been relatively smooth as long as you call regularly. Letter issued at 61 days from original submission. However, no liability release and their India reps say they can't change the letter even though the owner will otherwise let it go to foreclosure. How should this be approached with Ocwen?
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