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From the category archives:

Orange County Case Study #1 - Irvine

9/28/09: Phone conversation with 2nd lien holder

October 7, 2009

Phone conversation with 2nd lien holder, hope to have update in the next two days.

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9/24/09: 1st Loan Negotiator Helping Expedite 2nd Lien Approval

October 7, 2009

Received email from our Paralegal informing me that they have the negotiator from the 1st lien helping to expedite the approval on the 2nd lien.

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9/23/09: Second lien holder is sent complete package again

October 7, 2009

Second lien holder is sent complete package again.

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9/22/09: Received approval letter for the first loan

October 7, 2009

Received approval letter for the first loan, still waiting for approval from the 2nd lien holder.

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9/17/09: New negotiator assigned, received investor approval on the first loan

October 7, 2009

New negotiator assigned, received investor approval on the first loan

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9/10/09: File sent back to investor for review

October 7, 2009

File sent back to investor for review.

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8/25/09: Lender Requests Further Breakdown Of Info

October 7, 2009

A further breakdown on the HOA fees was required by the lender, sent everything back on 9/3/09, needed to break down arrears, penalties, fees, attorney costs, filing of liens and judgments.

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8/17/09: Investor Requests Explanation Of Some Items

October 7, 2009

Investor requests explanation on some of the charges on the HUD1, everything was provided within 5 days, some of the fees were from the two HOA’s which had not been paid for almost two years. We had to get a complete breakdown from the HOA, had to get our attorney involved (as well as our [...]

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8/14/09: Lender File Gets Forwarded To Investor

October 7, 2009

Received email from negotiator stating that file has been forwarded to investor for a decision. Additional document was sent from lender for seller signature, document was emailed back to lender the same day.

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8/13/09: Negotiator reviews file

October 7, 2009

Received email from negotiator stating that she will be reviewing file.

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