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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: saveslivesbyday who wrote (122359)	5/12/2008 9:21:34 AM
From: XoFruitCake	Respond to of 306849

""Option One sold this mortgage in a bundle of loans to investors, who have final say about a sale." Fascinating. Is it even possible to find out who the investors are, contact them, and get their "approval" for a short sale?" The servicer is the one that control the workout or foreclosure decision.. And investor of mortgage can be anyone include CDO which slice and dice the mortgage into different tranches with conflict interest it the workout scenario. Servicer right now is not set up to do all this workout with the hugh manpower requirement and how to determine the best NPV in various scenarios (foreclose, cutting rate, changing type of mortgage etc.) that they can defend in court in case investor(s) don't like their decision.