Comments on: Why Loan Modifications are Required to be Rejected by Servicing Companies

By: Selma Kelly

Selma Kelly — Sun, 25 Oct 2009 07:49:12 +0000

Hello, I knew it, I knew it, I knew it !!! I’m a loan mod processor right now (only because I have to; I’m actually a secretary in disguise working at a law firm who got thrown in to it.)
I have noticed an ALARMING TREND going on since the end of July. No lenders ANYWHERE are granting loan mods anymore. In fact, our clients’ homes are being SOLD from under them left and right without warning!! We are led to believe that their loan mods are on track and moving forward and one week later, their home got sold. I told my boss something bad happened since the end of July!!! And now I know … they filled their pool, and met their quotas. According to their “PSAs” they cannot offer anymore loan mods. Thank you for disclosing this info. I’ve been waking up at 3 in the morning wondering what I did wrong! I DO HAVE A QUESTSION, IF I MAY … I always ask for who the investor is, and they NEVER give out that information, nor do they offer to answer this if we send the request in writing. But unless we know this, we cannot go to the SEC, right? Is there another way to find this out? Thanks for your article.

By: Selma Kelly

Selma Kelly — Sun, 25 Oct 2009 07:44:18 +0000

Hello, I knew it, I knew it, I knew it !!! Hello, my name is Selma Kelly and I’m a loan mod processor right now (only because I have to; I’m actually a secretary in disguise working at a law firm who got thrown in to it.)
I have noticed an ALARMING TREND going on since the end of July. No lenders ANYWHERE are granting loan mods anymore. In fact, our clients’ homes are being SOLD from under them left and right without warning!! We are led to believe that their loan mods are on track and moving forward and one week later, their home got sold. I told my boss something bad happened since the end of July!!! And now I know … they filled their pool, and met their quotas. According to their “PSAs” they cannot offer anymore loan mods. Thank you for disclosing this info. I’ve been waking up at 3 in the morning wondering what I did wrong! I DO HAVE A QUESTSION, IF I MAY … I always ask for who the investor is, and they NEVER give out that information, nor do they offer to answer this if we send the request in writing. But unless we know this, we cannot go to the SEC, right? Is there another way to find this out? Thanks for your article. -selma kelly-