Essentially when you send in a REST Report, showing you qualify you are making that servicer adhere to the 800 page (PSA) pooling service agreement in place which states a servicer must work in the best interest of the investor.
The NPV, test is ran in many cases but for all the wrong reasons with all the wrong inputs either by accident or intentional.
The servicers make 3-4x more on a foreclosure compared to a modification. If they ran a report proactively small loan lenders that means they might just have to modify the loan and make less money.
Just after doing our 3 way , call and gathering inputs and running the REPORT, the banks seem to be very aware, and have been sending out modification after having ran the REPORT even before it is sent in. Being very conservative it payday today takes about 3 hours of work on our end before being able to generate an accurate report. Also we include need cash fast bad credit Investor and servicer submission instructions with template to use. There is NO pretty BARS, CHARTS, GRAPHS or extra pages… that I have seen with people trying to create a similar REPORT. COM, SX3, or other qualifying software can in no way actually tell you if you qualify and you must even sign something acknowledging that their report is based off the FDIC npv, which BTW is not used.
These reports I named other than the REST Report are about as good as a paper airplane or a coaster. FDIC would be cool if you actually got something from the FDIC… lol it is really is crazy the things some companies are doing, and will do. And this is a public forum so if anyone from any other company would like to debate that there report is GOOD, and WHY feel free we are here in the public. We have said this many times in blogs, as well and guess what no one ever calls or emails or debated in public because they KNOW. Moe, I believe Charlie Rose had mentioned over on another thread, there is a new waterfall test coming out in the Rest Report that will show principal reduction.
REST loans for bad credit no guarantor no fees Report Matters will include the new waterfall and (PRA). I just want to see it get done, and once it does you know I will have a thread showing the REPORT, with the RESULTS. I am a under promise over deliver kind of guy in general, so I would hate to get everyone going on this, and see it fail or it becomes optional and they can decide which water fall method to use. How they arrive there, being interest rate reduction or extension of terms or PRA, is no matter to me and most folks I spoke to. I will keep you posted on this, we are to have a meeting today, now looks like tomorrow regarding the USE, release and final changes. Treasury has payday today been testing and playing with this 3 months prior to October, and it has seen many changes. Servicers will conduct evaluations IN ADDITION TO THE NPV 4.
What this means to you is that even though the software online loans bad credit direct lenders application for NPV 4. Again leaving you the need for obtaining your OWN Report, based on your specific situation. As to the Rest Report report, one thing I like about the report is that is assesses for short sales and modification and I wanted real estate agents to be aware of it so that homeowners who might qualify for short sales might be able to able to determine whether a modification might be an alternative. I did pretend to be interested in making money by marketing it to try to discern whether it was real or snake oil directly with Andelman, and backed off after I felt it was real.
I do wish the report was more affordable so I can could provide it for Pro Bono clients. It would also be nice if the report could be provided at loans direct lenders cost to professionals that are wiling to donate time toward volunteer work.
But I do understand that the property valuation data is expensive, and it does require expertise to run same as AUS.
We do have a affiliate program, where a BROKER or ATTORNEY or any other Mortgage expert or professional can get the REST REPORT, we are slowly moving everything under this one ROOF, besides the mom and pop shop attorneys who take on 5 modification per month and run 5 REST Reports per month.
The affiliate program allows for you to sell the REST Report, and will allow for an attorney to obtain a REPORT for his client. A client would just come over and go through normal process, having an agent work on get a hold of them, etc after they have filled out a contact form expressing the time they would like to be contacted.
Lawyers should remember paying for the cost of the REPORT, is small compared to the extra 8 months they need to pay staff to follow up on a client who paid 3500.. We will be gathering the most up to date, inputs needed for running the REST Report. The analysis evaluates your loan and situation for FLEX mods, HAMP mods and CAP mods along payday today with the value of the loan at foreclosure and short sale. A 2 page document with instructions and a template letter you can customize on how to present the REST Report analysis findings to your servicer and investor of the loan. It need cash now is also used in calculating your NPV and can be used to establish a basis for re-assessment of your property taxes and insurance. The budget is payday today formulated or revised using the monthly minimum and maximum nationally published household allowances.
Instant cash loan
Chadd question for you do you think I should make up the 1 payment and that way march 1st we will only be one behind or does it not matter? And I am a real person that works every single day, and I talk with home owners myself daily. Feel free to actually ask for me if you want to or it makes you feel more comfortable. As stated by Jeffrey, the HOPE Hotline should only be used to report HAMP fraud or if you are being abused.
Also, you should report this abuse to your state attorney general, the OCC, the media an everyone. A bunch of people came out of the wood work, who have just been watching, for years some of them without ever so much as making one reply. I would encourage anyone on here just watching to help out a bit. Even more so if you are a professional, and know what is going on with this foreclosure crisis.