I’m hoping that our legislators wake up and start reading this and other stories by agents and consumers who have to deal with the madness of the shortsale process employed by some lenders. Saxon Mortgage is a mortgage servicer that is particularly adept at being inept. Keep reading to understand why.
This shortsale negotiation was started in February. The subject property needs almost total rehab, and I’d repeatedly asked Saxon Mortgage to do an interior BPO. I finally got an answer from them that said: we don’t do interior BPOs, you’ll have to do it yourself and submit it. Great. So I did that. A thorough, full-color, 40 page BPO with photos, descriptions, and comps. Then yesterday I find out that they do in fact do interior BPOs, and now I have to wait for them to do it. My suspicion is that they are suddenly interested in doing it since my value was so low. The guy I spoke to asked for the name of the person who gave me the “wrong” information. I only got one name and extension number of the several people I spoke to, since they said it was company “policy” not to give out names of the people in the shortsale or loss mitigation departments. He found that “strange”. I’m sure he’s just as full of crap as the owners of Saxon themselves.
