They did not waive any fees. The loan processor was awful. I tried to go around him to get someone else to deal with but that was a dead end. It was a nightmare. I am typically a great negotiater but I promise you it wasn't going to happen with GMAC Mortgage. Their position is "We are forgiving all this principal, how dare you try and negotiate anything." The loan officer I delt with actually told me I was acting ungrateful which was so far from the truth. They charged me a ton of points and fees and there wasn't anything I could do about it. If you are in the early stages don't worry too much until after the appraisal. Originally they were going to reduce my principal by $179K but the appraisal came back too low so they had to reduce it even further or forget the deal. They ended up reducing by $204K.
If your house appraises lowere then they estimate they may offer a larger principal reduction.
I asked him for his email address and he gave it.
If you have the first and last name you can try for example:
joe.smith@gmacm.com The emails that I got from the loan officer and later the loan processor were first name dot last name @ gmacm.com.
It's worth a try.
Here is a link to my story. You will probably get some questions answered.
GMAC/Homecomings Not Late!
Please let me know if you have any other questions.
I'll be keeping my eye on your thread and rooting you on.