Last week I posted The Short Sale From Hell — about the trials and tribulations of dealing with a short sale, and in particular the lender, Ocwen.
On Friday, the deal closed. Ocwen got their money, and I got my (substantially reduced) commission check.
So all is well, right?
Well . . . not so much.
Sadly, the buyer agent’s broker requires a signature from Ocwen on a document before he will pay the buyer’s agent.
Sounds like the buyer’s agent problem, no?
Well . . . not really.
Neither the buyer’s agent nor their broker is authorized to discuss the loan with Ocwen. Only the seller and I have permission to do that. Ocwen won’t give the buyer’s agent the time of day.
So back to the phone I go, to help my fellow agent get paid her (substantially reduced) commission.
What an eff’ing nightmare this turns out to be!
First call: One of Ocwen’s “Loan Resolution Consultants” claims it is “against Ocwen policy” to sign this letter (despite the fact that THEY put their own signature block on the document, and left it unsigned).
I ask to speak to a supervisor, and of course, promptly get disconnected. Leading to..
Second call: Supervisor says, “I can’t sign that, I’ll have someone call you.” So far over the last three months, Ocwen is batting 0.000 in calling me back.
Their batting average has yet to improve.
Third call: After waiting on hold 47 minutes, I get, “Our system is down, you need to call back.” When queried as to why they didn’t just put a message on their hold line indicating they can’t help, I got, “Uh. That’s probably a good idea.” I explain to the rep that I can easily fax them a page, he can sign it and fax it back. Problem solved.
Nope. No can do.
“Is your fax machine down too?”
“No, but I’m not allowed to give you the fax number.”
“But I have the fax number.”
“That goes to India, not here.”
“For the love of God man, I just need a signature, ANY signature.”
“I can have a supervisor call you back.”
Looking for more information on short sales? Below is a link to all articles written on this site about short sales:
Phoenix Short Sales
Thinking about short selling your Phoenix home?
Just complete the form below for a no cost, no obligation consultation with one of our experienced short sale experts: