MUST READ: Pennymac Short Sale Supervisor Says He Knows & Doesn't Like the Buyer ??

I had to write about this-- maybe because of freedom of speech or just to see if anyone else finds this to be strange. I have been working on a HAFA short sale with Pennymac as the 1st loan. Pennymac offices are apparently local to my area. Long story short, we got a hafa short sale approval with a buyer's offer but those buyers wanted credit after their inspections. So, their escrow cancelled. I got an offer from another buyer with same price that was willing to do cash and waive all inspections (to avoid another cancellation). The negotiator takes a couples of days to respond & tells me that they want $25,000 more or they will foreclose on the property. I spoke to a supervisor in the short sale dept that told me that he "researched' the buyer and knew him & the buyer is a shrewd person & if he is purchasing the property it must be priced too low. The new buyer would be making money off of the property. It was clear that the supervisor did not favor this buyer purchasing the property. I thought that as long as the buyer is not related to the seller or friends with the seller and that there were no agreements with the seller, it should not matter? The supervisor said that he re-evaluated the value of the property & he is the one who approves or disapproves the offers. This is just hard for me to understand? Any ideas on what I can do? The email addresses on Pennymac's website for escalations do not work! The email bounces back. Thanks. 

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Who are you dealing with there at PennyMac? I know a few people there.



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