I have two deals coming up in which both have very small, non-HAMP lenders holding seconds:
One is with Shelter Financial (the Shelter Insurance people). I have spoke to their "Real Estate Manager" who manages their small portoflio of loans. They have a very conservative portfolio and says that this is the first time they've ever been approached about a short sale in the 11 years he has been there.
The other transaction has a 2nd with Third Federal Bank, who is a small bank (14 branches) in the Philadelphia area. Has anybody ever dealt with Third Federal?
I would love your feedback.