IBM - Lender Business Processing Service

Information

IBM - Lender Business Processing Service

Group to discuss short sales with IBM - Lender Business Processing Services short sale process and guidelines.

Members: 26
Latest Activity: Nov 8, 2011

Phone: 866.570.5277
Fax: 877.649.0743
Auth Fax: 866.578.5277

Discussion Forum

Nightmare with 3rd party authorization

Started by Janice Wheeler. Last reply by Pattie Johnson May 22, 2011. 2 Replies

Help!!! I have a friend his wife died in a horrible hit and run drunk driving accident.  Right before she died they changed there names.  So when we asked for 3 rd party authorization, they want it…Continue

Need contact supervisor name

Started by Janice Wheeler. Last reply by Pattie Johnson May 22, 2011. 2 Replies

In a early post I wrote about trying to get lbps to approve a 3rd party authorization. My client and I have sent 4 sets of authorizations including copies of drivers license, ssn card. And of course…Continue

Litton Second Chances

Started by Janet Fuller CDPE, HRC, ABR. Last reply by Mike Linkenauger May 11, 2011. 1 Reply

I had a pre-approved short sale with Litton, seller lost local position and took a long distance truck driving job.  He vacated the home, now HAFA allows up to 12 months relocation - however, they…Continue

Comment Wall

Comment

You need to be a member of IBM - Lender Business Processing Service to add comments!

Comment by Karen Hulbert, Woodland CA on May 28, 2011 at 7:33pm
Sharing info - so after the cust serv rep told me they have pretty much stopped doing Shorty's in Ca...they approved it in under 30 days from full packet submission. They did cut the $$ to the 2nd so we are now negotiating that but they have actually not been horrible to deal with....Don't be scared.
Comment by Angela Alfe on April 11, 2011 at 8:11pm
This is the most recent info I have for them:
Phone: 866.570.5277
Fax: 877.649.0743
Auth Fax: 866.578.5277

I'll put it above, as well.
Comment by Julie Tinkey on March 24, 2011 at 6:58pm

Really!! I have a new LBPS short sale coming up this weekend. We will have be sure to compare notes as things go on. I get so much misinformation in this business that I really don't know who or what to believe anymore.

Comment by Karen Hulbert, Woodland CA on March 24, 2011 at 6:34pm
They just told me they have 'pretty much' stopped approving short sales in CA due to the new law (SB931)...Since they will make more $$ on the foreclosure. (wrong) I think this statement was to dissuade me from going forward. Little does she know I see this as a challenge ;-}
Comment by Julie Tinkey on March 24, 2011 at 5:59pm
Hi Karen, yes the hold times with LBPS were the worst. They did allow 6% of the outstanding balance of the 2nd ($4900) and no seller contribution required. That was good. I didn't have to get the 3rd party auth. notarized but if, and when, it is 6 months old, they will want a new one. And they will want on offer on the table before getting anything going. Good luck!
Comment by Karen Hulbert, Woodland CA on March 24, 2011 at 5:46pm
Thank you Julie - I tried this # 3 times (in case I misdialed) and got the out of service message. Just got through and am on music hold, estimated hold time 18 minutes. Another agent just told me they require the 3rd party authorization to be notarized - I found the form on another site. Any other tips/issues? I just listed the house and like to know what we are in for. Thank you.
Comment by Julie Tinkey on March 24, 2011 at 5:18pm
The phone # for LBPS is 888-917-6004. I have done one SS with them. It took almost 2 months to get approved. Then the buyer backed out.
Comment by Karen Hulbert, Woodland CA on March 24, 2011 at 3:43pm
The above number is not in service......anybody have another one for them?
Comment by Kevin - Greenville, SC on January 17, 2011 at 10:08pm
Angela, Has your experience improved? Looks like I will be taking a Fannie Mae loan transfered from Chase to IBM this week.

Thanks.
Comment by Angela Alfe on November 28, 2010 at 10:51am
Anyone having luck with this company?

The one MAJOR thing I found with this company is that you should NOT put in the loan number when it asks for it. For some reason, it will forward you to someone voice mail and that person (usually John Peterson) will never call back. Total waste of time. Instead, just keep pressing '0' and it will transfer you to an actual Human Being.
 

Members (25)

 
 
 

Discussion Forum

Nightmare with 3rd party authorization

Started by Janice Wheeler. Last reply by Pattie Johnson May 22, 2011. 2 Replies

Need contact supervisor name

Started by Janice Wheeler. Last reply by Pattie Johnson May 22, 2011. 2 Replies

Litton Second Chances

Started by Janet Fuller CDPE, HRC, ABR. Last reply by Mike Linkenauger May 11, 2011. 1 Reply

© 2018   Created by Mike Linkenauger.   Powered by

Badges  |  Report an Issue  |  Terms of Service