Bank Loss Mitigation Phone Numbers ?

rgarrasi profile photo

Anyone know where to get them?

Is there a directory available?

Thanx.

Bob

Comments(4)

  • alegrier24th July, 2004

    Each lender has several loss mitigations rep's. It would not really help you to have a list. The better option would be to call the particular bank you are working with once you get the deal.

  • gotmike24th July, 2004

    i have never seen one. we keep a log of all the bank numbers and contact names we deal with. when we get a call from an owner who is being foreclosed on by a bank we have done a short sale with before, we call the last person we dealt with directly. this speeds up the process immeasureably. since they know we closed with them before, they know we can do so again. that particular contact may not be assigned to the new deal, but they can usually point you to the right person and vouch for the fact you know what you are doing.

    to answer your question a little more directly, i think www.easyhud.com claims to have one if you pay 15$/mo or something for it, but it is not a directory, more of a search. that way they can keep you paying them instead of signing up and just printing out the directory. of course, they get the directory numbers from the members paying 15$/mo as well. i searched for several banks like wachovia, bank one, countrywide, and many other big ones we deal with. the search failed every time. either they don't have any numbers and it's just a gimmick to get you to join or their search tool is broken and they just need to make a directory.

    i also remember seeing a text bulletin board somewhere that had some loss mitigation numbers listed, but i don't remember where that was.

    you will probably have to get pretty creative to find these numbers. one time we were looking for a loss mitigation number and through a bit of google'ing, we found a lawyer who used to work for loss mitigation at this bank and had it listed on her resume online. we emailed her and she gave us the direct number. use your noggin' and keep an address book. good luck...

  • MarleneM24th July, 2004

    Search through the larger online search engines. I've found dozens that way. When I emailed their contact people, I usually got a response, but they just referred me to their particular website listings.

    The pickings were rather slim, but hey, they are increasing. Looking at those listings are free, so you have nothing to lose.

    Good luck,
    MarleneM

  • gotmike24th July, 2004

    i disagree with alegrier. to us, having the number helps a lot. sometimes it can take the better part of a day just to get to talk with someone in loss mitigation. the customer service people don't know what you are asking for, the collections people play dumb, and it's just a time consuming mess to try and get through to these people without some sort of direct number. menus and computer prompts and call queues don't help the matter at all. this is very frustrating when you are working with someone who has a foreclosure date in a week.

    to that end, having actually done a deal with the bank will get you much farther than just the phone number. the phone number just saves time, that's all. having done a deal gets you a little ways with the people inside loss mitigation. it is not like you just call the number and they say "hey, because you called me on this number, we'll go for a 40% discount."

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