By Moe 

I have to say that I have been quite impressed with Chase and their advancements they have made without having to agree to any political persuasion. It appears that they are doing things their way and they are not waiting for any Hope Now agreements or political persuasion.

In fact I believe that they should be a “role” model for all lenders and servicers to follow. It would be safe to say that Chase and Litton Loan Servicing, led by Larry Litton are “really” trying to make a difference and assist struggling borrowers the best way the they can at the moment.

I feel that it would be proper to give Chase credit and say that out of all the lenders I have dealt with and the stories I have heard, that Chase is the #1 lenders that has a track record of truly helping people and making a “true” effort to assist homeowners.

For instance Chase has what they call a “ARM Unit” in San Diego, California. This unit is for the sole purpose of working with Chase clients that have had adjustable rate mortgages. They have been very proactive in assisting borrowers before their rate resets.

I also have some insider information from an actual Chase Loss Mitigation Specialist and I thought I would include it here. 

Chase has come out with a new process that will start in December…. go figure…

Along with much of your frustration.. (real) loss mitigation specialist were having a hard time weaving their way through the jungles that we call the “workout” world.

the workout world are people—workout specialist, underwriter, workout supervisor and the investor.

in order for us to process a modification, we (loss mitigators) had to trust that the modification docs would be received at our offices in san diego… that is where the workout specialist work. so we never really knew if the docs were truly received or not.
so, we waited (just like the borrower) for confirmation from the workout specialist that the docs were received. sometimes they would note it within 3-5 business days.. sometimes never.. so imagine 50 calls a day asking for status of mod from borrowers.. and the chagrin of saying over and over.. i dont see it noted on your acct that the docs were recvd. *sigh*

well finally we have started a new way.. (im calling it cradle to grave)…. mod docs are now going to be sent to the mitigaters own fax number and wherever they are and they will then post that theyve received the docs and then forward those docs to the workout specialist and receive a reply that the docs were received. if we dont receive confirmation from the workout specialist that docs are received then we can continue to forward them to the rep. so, it keeps us (loss mitigators) in the know. and keeps us from looking stupid half the time.

and now a sympathy moment… loss mitigators work 250-300 assigned accounts a month *sniff* not everyone of our accts is going to be a mod acct… some will be referred for other workouts…. full reinstatments, repayment plans, short sales, full payoffs and deed in lieu’s… everyone of our borrowers who is asking for information, deserves 100% satisfaction…. honestly… i give 100%, but i do make mistakes… my workout specialist makes mistakes.. and all the others who work in this line of business make mistakes.. my plea is not for sympathy.. but for an understanding.. be nice to your loss mitigation account manager.. if you want to keep your home… these men and women who work 8 hours a day work for you… and they empathize with your situation… and dont think for a second that all of us are bad.. some of us do have bad days… and we may take it out on you… and some of you may be having a hell of a bad day… because of your current plight.. just dont take it out on us.. cus ultimately.. the loss mitigation specialist, account manager, has control of your loan… and they do have some pull.

good luck to all of you…. i sincerely mean that. it sucks that your in the position your in.. and with a belief in relying on others here on moe’s and others sites you can save your home if you work with your servicer… NOT WITH FAUX loss mitigators.. why give them money??? makes no sense.. i ll save that issue for another time!!!!

Get FREE foreclosure help    loan modification     loan modification     predatory lending      mobile home loans

home loans        countrywide home loans        option one mortgage     chase mortgage         FHA Secure

hardship letter   loan modification    mortgage help      foreclosure process     mortgage fraud   bank lawsuits