Hi all,
I need help with a referral I got through the SS Network, 1st and 2nd with Provident Funding.  Seller paid upfront $ to a law firm from out of the area who insisted on being the authorized party to do all "negotiating" with Provident.  I don't think they have been doing much of anything other than take my seller's cash, and the seller feels he's been hung out to dry.  We had 3 offers at $270,000 (pretty much market value), Provident ordered a BPO and came back saying they won't even proceed with a decision unless we have an offer of at least $305K.  Not going to happen.  I put the house back on market at $305,000 and have not had one showing after several weeks.  Law firm will not even argue the value with the Provident negotiator, they said "well too bad I guess it's going to foreclosure".  I am having the seller authorize me to speak to Provident as well to try to get a 2nd BPO/realistic valuation.  Has anyone had any experience good or bad with this company or have any contacts?  Thanks for your help, I hate to see the house foreclose.

Views: 487

Reply to This

Replies to This Discussion

I have had no problems with any other banks with PMI, until this one.
If it is a Freddie Mac or PMI issue, they they are the ones calling the shots, NOT Provident.
Yeah, but this hasn't even been submitted to Freddie. It's just the bank calling the shots right now and no willingness to negotiate. I completed a new market analysis for them myself today and sent it over. I hope they take it into account.
it obviously doesn't conform to FNMA guidelines for whatever reason, so why would they send it?
Yeah, I know. But I'm not sure of the reasons. They haven't specifically given an reason. I'm just putting the house out of contingency and back active to see if we can get an offer they like.

RSS

Forum

Ocwen Contacts Short Sale Package

Started by Jan Baron in Rants and Raves. Last reply by Anna Wilk Jan 14, 2016. 5 Replies

Shellpoint Mortgage

Started by Celeste ODea in General Discussion. Last reply by Brett Goldsmith Sep 4, 2015. 3 Replies

Extension Fees & Closing

Started by Colleen J Couse in Rants and Raves. Last reply by Brett Goldsmith Sep 3, 2015. 1 Reply

© 2021   Created by Mike Linkenauger.   Powered by

Badges  |  Report an Issue  |  Terms of Service