Subordination processing for closing & lending professionals
Genuine Title - Owings Mills, MD. Vanchieri & Ferrier, LLP - Brooklyn, NY. Southbay Equity Lending- CA. White & Selkin, Attorneys - VA CFS Mortgage - AZ Stratis Financial, CA Tri County Title Wells Fargo Home Mortgage California Executive Escrow Branch Banking & Trust Pinnacle Mortgage Corp. Suburban Cities Escrow - CA Mortgage Resource Group - CA Wells Fargo - SC One Nevada Credit Union Legends Title - MD Seymour Law Firm - CT Mason State Bank Wells Fargo Home Mortgage - VA Wells Fargo Home Mortgage- CA Frazier Law Firm - NYC Tower Federal Credit Union New England Federal Credit Union |
HARP approved first loan with a Subordination: Subordinating lender approval is not always granted. To the surprise of many lending professionals becoming familiar with the newly released guidelines for what many have coined as HARP 2.0, they are … [Read More...]
Updated JAN.5, 2012:
Note: These are not indicative of ALL subordinations.ALERT: VOLUMES ARE SUBSTANTIALLY BUILDING WITH MOST MAJOR LENDERS. DO NOT LOCK YOUR INTEREST RATES THINKING YOUR TURN TIME WILL BE QUICK.
PNC/National City - TWO WEEK MINIMUM, volumes increasing
Chase Bank - approx. 10 bus. days, some less
Bank of America - THREE TO FOUR WEEKS, volumes building -
USAA - TWO WEEKS
Wells Fargo - 7 BUSINESS DAYS
1) Support is outstanding (see #10 below)
2) We deal with the subordinating lender, not you. - time saver
3) A support member assigned to you from day one to completion
4) Fees: All fees can be paid online - time saver, speeds approval time. No more asking clients to go to their bank for cashiers checks. Fed Ex delivery of subordination is included,unless otherwise stated.
5) YTD: 40% success rate in turning declines into approvals - very respectable
6) Pre-audit files for accuracy and potential response - saves time, saves lost money when we tell you upfront it may not work
7) 24/7 Checklist delivery. Lender not listed? Ask us and we'll fetch it for you. Tons of people love this!
8) Common to get information even over weekends
9) Testimonials are ALL unsolicited
10) Exceptionally high caliber staff and experienced - you are not dealing with run of the mill customer service rep's who tell you status reports and that's it. We know refinance work and are involved in real estate transactions and refinance and subordination closings DAILY.
11) No charge for extra reason: We work as a Fiduciary which means our GOAL is to get your subordination approved
August 15th, 2011 - (on resolving a last minute issue) "Fantastic!! I can't thank you enough!!! - Julie G, Bank of America
May 26th, 2011 - "Thanks again for all your help and correspondence. That has been the toughest part of these subordinations from some places and you were great to work with!" - Denise G., Eastwood Bank, MN.
April 18th, 2011 - "This is the best service I have ever come across." - Deb. R. - Bank of America, IL.
March 18th 2011- "You have been absolutely awesome!!! I can't thank you enough. Your constant communication and updates have been absolutely awesome. Your continued efforts have been so much appreciated! - Joanne, First Choice Bank
Feb.10, 2011- Thank you for all your help and cooperation. It has been a pleasure working with all of you!"- Lerris at Metro National Bank
Office 9am-5:00PM Pacific Time
Online Requests: 24hours/day.
Fax line for documents: 425-337-7005
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Bank of America (Countrywide)
National City/PNC - heavily involved in 80/20's during the boom
Wells Fargo/Wachovia
US BANK
Citi Mortgage
Key Bank
USAA
others (regional banks and credit unions)
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