Loss Mitigation Training
The lender package. How do you get a hold of the lender package?
The package that comes with the manual and documents is accepted by all lenders although there are a few that require the LOA to come from the lender with their exact wording and will not accept the one in the manual.
If I call lenders and request it would they send it to me?
Yes, but again ours works with every lender
Also after you've submitted the agreement, financials, and lender package do you call the lender or wait for them to call you?
The way that it works is once you fax the workout package 3 or 4 times (to be sure it does not get lost, you know the routine) follow up with a call to the lender verifying receipt of LOA and workout package. That is stated in the manual, I will have to look to see what section.
And what is a workout request package? Is that the same thing as the lender package?
Yes they are the same, a package consists of the fax cover page with our offer, LOA, Financials, Bank Statements, Tax Returns, Hardship Letter and Proof of Income
|