update on option one/amhms

[harried87]

I just found out that the investor for my loan with optionone (american home mortgage servicing) is deustsche bank. Has anyone heard of them? How tough is db to have modifications if any go through?

[Dan Bailey]

Hi harried, welcome to the forum. A moderataor should be by soon to answer your question...you may want to do a search of the forum to see if anyone else has encountered this scenario.

[harried87]

Thanks Dan!

[Moe Bedard]

Hi harried87,


Welcome to the forum and thank you for joining...................

Deutsche Bank is a very large investor, but since most go through this process without knowing who the investor is on the loan unless they receive a foreclosure notice or an NOD then we don't know how receptive they are to modifying the pool of loans they hold. It would also depend on the type of loan you have, what the rate is at, if it is adjustable or fixed, and when you do your household income and household expenses that you are able to show a surplus of around $100-$250 left at the end of the month.
What you need to do is to contact AHMSI to get started on the modification and they will tell you what options the investor has on your loan...............
Put your hardship letter into the body of an email along with your loan number and contact info and send it to each of the email addresses below and also call the Home Retention Team to get started on the modification...........

Please keep us posted on your progress...........


Home Retention Team
1-877-304-3100




bob.dubrish@oomc.com (CEO)
casey.cunningham@oomc.com
amy.sessnermacedo@oomc.com
christine.sullivan@oomc.com
kim.denger@oomc.com
fabiola.camperi@oomc.com (Senior VP of Loan Servicing)

[harried87]

Thanks *** for the information! You are correct I found out who the investor was because I was served a notice of foreclosure. I applied for a loan modification with option one back in march and after 2 months of waiting they came back and denied it saying that I did not have enough income to qualify! (based on the documentation I sent them I had more than enough excess of 250 left at the end of the month) Right after the denial I was served with forclosure papers. I have a jumbo subprime mortgage that I took out in 2005 with a 6.99 interest on the hope of refinancing it to a fixed mortgage, my rate skyrocketted to 11.00. My friend in the similar situation was granted a modification with countrywide and she wasnt late yet and got approved. Should I try again? I feel like just giving up and walking away.

[Moe Bedard]

The decision would be up to you.............if I were you I would at least give it one more try with the new servicing company and see what they might offer you...........you don't have to accept it, but it won't hurt to give it one last go if you you want to stay in your house..........just my 2 cents.

[harried87]

Yes, you are right I will give them another try as I really do not want to lose my home. I heard though that ahms is really option one? I will definitely email those people on the list you sent. Hopefully I will have luck this time around! If not I am thinking of getting an attorney involved.

[elpjohnson]

Hi harried87...

Yes, do exactly what *** says and try to work out the modification by yourself first, if they deny you again contact these folks

Jeanne Drake- She is the VP of the Home Preservation Dept. I sent her one fax and got a phone call back that evening. She is the one that put me directly through to a loan officer and had it sent directly on for approval.

Jeanne Drake-Direct phone line 949-784-6011
Fax Line 866-642-4196

Jim Davis-Never heard a word out of him, but CC: him on the letter sent to Jeanne Drake.She asked me how I got his name.

Jim Davis- Phone-904-996-9696
Fax-904-996-9653



If you still don't get results, then you may want to hire an attorney and have your loan docs looked at for violations so you can force them to modify based on your violations.....

It's definitely a struggle but you can do this on your own......exhaust all avenues first then if that doesn't work hire an attorney.

Good luck and God bless!

[harried87]

Thanks so much elpjohson for that information! I will definitely be in touch with them soon! I will follow up with results when I get them. Hopefully I will be telling a success story soon.

[elpjohnson]

That's what we're here for......keep us updated on your progress and if you have any questions, feel free to post them.

[harried87]

I certainly will! Thank you guys once again!

[harried87]

I received an email from Amy Mecedo from option one in which she said that she assigned my file to Tyler Bohn. They need the following proof of income, 2 months statement and 2 years tax returns??? My questions is I had a temporary setback due to a job loss 7 months ago what would 2 years mean? I was clearly able to afford this home 2 years ago. This does not make sense. I emailed Amy back and said that I applied for a modification back in March and I should still be in the system she wrote back saying that they scan everything and all she found was my hardship letter in the system. It seems like back in March they did not ask for much. Why now??

[TXHomeowner]

Hi Harrie!

We share the same lender (unfortunately) and everything they are requesting is pretty standard stuff. I had to submit all of that, plus some. So, don't be alarmed. If anything, I would have been alarmed back in March when they only asked for a hardship letter. I don't know why they require all that crap...it's almost like we have to re-qualify for a house we have diligently been paying for. It's crazy...this whole thing is crazy in my opinion, though.

Make sure you send everything in they ask for, otherwise they will not even consider you for a modification and be prepared to fight a LOOOOOOOONG battle. I think this lender is looking for any possible reason to deny homeowners anyway. They only want to look like they are trying to help by going through the motions. Just my $.02.

-TX

[harried87]

you are so right tx. I'm like do the "really want the house??" Unforturnately this lender is known to play hardball! THey probably have the most foreclosures out there. If they deny me once more, I am prepared to fight hard and get an attorney involved review my loan documents, hud, for a long drawn out fight. Lets see f the government will help with that program coming out it Oct. to twist their arms.