Ocwen Back In The Game

So we new it had be to temporary and it was. Ocwen is now negotiating firsts again
on Short Sales. They say that they wanted to 'Make Sure All Borrowers That Qualify For A Loan Modification Receive Them.' The truth is simple, Ocwen has two major Hedge Fund investors. Both investors have told Ocwen that they will hold 'Ocwen Servicing' liable for it's flagrant acts of random market abuse and there internal Short Sale underwiting policies and procedures. What does this mean to us? Very simple, Ocwen will no longer give away the farm on Short Sales they allow
for. Short Sales will not necessarily be fewer and further in between, but Ocwen is very clear that they will be reviewing all Hardships and wanting more documentation with those hardships.
If you have a deal with Ocwen, now is the time to get it to Loss Mitigation. Very few agents know they are back in business and Loss Mitigation has time to work on your file.

-Christopher Rockey