1 loan, already approved but Ocwen won't approve the new CASH buyer

I represent a distressed seller, listed & attracted a buyer who made a full priced offer within 10 days, subject to appraisal & financing. We submitted everything required, several times (because every time you call, they allege that the documents are incomplete) & the seller herself called twice. After 3 months we got a written approval. As is typical, the buyer dropped out of the deal about 3 wks later. Within 10 days, we secured a cash buyer, who agree to close within the same timeframe of the original Ocwen approval. We updated seller financials, provided buyer proof of funds & were told that a decision would be made within a week. That was a month ago. After calling everyday for a month, today one of their reps advised that we get the buyer to extend another 30-40 days, while their underwriting department review the offer. When I asked what the hell they have been doing for the past 30 days, he said that Ocwen offers short sales as a service but aren't obligated to do them. I asked for a supervisor & was told that there was no one that would pull my client's file specifically to expedite this matter. Amazing, really. Good thing someone decided to outsource these jobs...NOT!

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I do not like dealing With OCWEN!


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