Negotiators, Underwriters, oh My!

PhildVegas · 11-17-2009, 10:58 AM

I'm confused, (ok, a normal state for me lately.

), so can someone please tell me the difference between a negotiator and an underwriter? Can a loan mod be approved by an underwriter? Is a negotiator always assigned?

Thanks!

zander · 11-17-2009, 11:19 AM

Welcome to modification hell where nothing is clear. To my knowledge my accoutnt was assigned a negotiator 2 times why i have no idea . i believe that after negotiation, the underwriters have the final approve or deny , may go back to negotiator, who i was told at one point was negotiating on my behalf, interesting since they have never contacted me!!!!

yomann · 11-17-2009, 11:43 AM

A Negotiator is the person we get to talk to ......
He/she completes the loan mod package, tries to make sure nothing is missing, and passes it on to the Underwriter for approval.
Typically, we never get to speak to the Underwriter. All communication for additional info, is funneled back to us via the Negotiator.

PhildVegas · 11-17-2009, 11:51 AM

Hmmmmm, so the fact that I've not been assigned a negotiator, but received a call from the underwriter requesting more documentation, is unusual, eh?

yomann · 11-17-2009, 11:55 AM

Not really ..... it just means they are short handed, and the Underwriter is wearing two hats.

kdtran08 · 11-17-2009, 04:45 PM

Quote:

Originally Posted by yomann

A Negotiator is the person we get to talk to ......
He/she completes the loan mod package, tries to make sure nothing is missing, and passes it on to the Underwriter for approval.
Typically, we never get to speak to the Underwriter. All communication for additional info, is funneled back to us via the Negotiator.

I faxed my negotiator all documents and he confirmed he got them all. I faxed these documents to different documents >10 times before. Now, the Hope Department sent me a FEDEX requiring 4506T and 2008 tax return AGAIN. What pissed me off is the fact that they said my modification is delayed because of these missing documents. It is all my fault and they are trying to be nice to extend my modification trial period until Dec 31st. There you go. My 3rd trial payment was for October 1st. Great! I FEDEX them those documents the same day they requested. Now just wait and see what they will do. What is the point of having a negotiator???? WTF- I am so angry, tired, frustrated, and concerned.