Is being assigned a negotiator mean anything?

[kayday]

I called today and was told that my loan mod was assigned a negotiator. Does this mean anything or is this where the long wait is?

[Cat Damiano]

Hi kayday,


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

It is all a part of the modification process. They assign you what is called a Relationship Mgr. to be your single point of contact throughout the modification process.

The relationship manager’s responsibilities include, without limitation:

Communicating the options available to the borrower for resolving the delinquency or
imminent default, the actions the borrower must take to be considered for those options,
the timing requirements for completion of actions by the borrower and the servicer, and
the status of the servicer’s evaluation of the borrower for those options;

Coordinating maintenance and tracking of documents provided by the borrower so that
the borrower generally will not be required to resubmit the same documented information,
and that the borrower is notified promptly of the need for additional information;

Being knowledgeable about the borrower’s situation and current status in the entire
delinquency or imminent default resolution process, including any home retention or nonforeclosure
liquidation options; and

Coordinating with other personnel (in-house or third-party) responsible for ensuring that a
borrower who is not eligible for MHA programs is considered for other available
proprietary loss mitigation options.

Additionally, the relationship manager must be aware of MHA program requirements and
timelines and must coordinate with the borrower and in-house and third-party servicer personnel
to promote compliance with those requirements and timelines.

[kayday]

I failed to mention that this is a HAMP mod app. Don't know if that makes a difference. They didn't give me a relationship manager as a contact or any info like that. I was given the negotiator's name of Stephanie Wandon and she said there is no way to contact her. I was told just to call the number I always call if I have any questions. The main number where I speak to many different people. Should I call and ask for a relationship mgr contact info?

[Cat Damiano]

The information I posted is from the HAMP process. How far into the modification process are you? You should have been assigned a Relationship Mgr within 5 days of sending in your RMA. You also are supposed to be given direct contact information for that person.

[Cat Damiano]

This is also a part of the HAMP process;

The relationship manager must provide written notice to the borrower within five business days of the assignment, which notice must include a toll-free telephone number and at least one other method by which the borrower may directly contact the relationship manager, as well as the preferred means by which documents should be delivered by the borrower to the servicer. The relationship manager must attempt to initiate contact with the borrower promptly following the assignment.

[kayday]

I faxed AHMSI all the HAMP forms on Jan. 4th. I called Jan 5th to comfirm they got it all and was told yes and to call back on Wed to follow up. So called back Jan 11th and they needed me to refax the signed part of tax forms. Faxed and called on 12th to make sure they received it and was told that they did and it was with I believe underwriting. Then said they needed me to fax a updated dobbs-frank form. I faxed it on 13th and called today Jan 17th (today) to make sure they received that and was told they must have b/c it was assigned a negotiator. I'm not sure how far that means I am in the process. I know its been more then 5 days and I have not been give a number or contacted by anyone except they sent letters asking for requested info. Also I don't know if it makes a difference but we are in a Chapter 13 BK.

[car67]

Your at the beginning journey that could be good or bad... Everyone seems to have different results..... I been trying for months and still stalled so far for a resolution...

[kayday]

Well I received papers Saturday. Mortgage company filed for a motion for relief from stay. So I guess Mod app doesn't put a hold on that. They reversed one of my mortgage payments and charged me 800.00 attorney fee back in Sept. Then they referred my account for this motion back in October. Now that they filed it they are asking for that months payment they reversed and attorney fees again! I'm so scared of going to court but I don't think that is right.

[mghoit]

I started the mod journey 2 1/2 years ago. On 1-19-2012 I got the first call from AHMSI that I've ever had. It was from Donna Simpson, my negotiator. Today I found out what the proposed mod is. Rate reduction from 10.25% to 6.125%, payment reduction from $1217.84 to $1080.82, term 257 payments. When I started this in August of 2009 it was a nightmare. I sent the loan mod package to them three days after I received it, did not hear from them three-four weeks so I called, they said they had everything and it was being reviewed, don't call them they will call me. A week later I get a letter wanting W2's. I called and told them I was self employed, no W2's. Ok then send Profit & loss statement. I faxed it within the hour. 30 days later I got a letter saying they need paycheck stubs, I called and explained again that I was self employed, no pay stubs. Ok then send us a Profit and loss statement. I faxed it with in the hour. Two weeks later I get a Letter wanting W2's. Do we see a pattern forming here? This continued every week or two till Nov-Dec, at which time I found HOPE HOTLINE, I talked to one of the nicest ladies I have ever spoke with. She did a three way call with AHMSI, back then they had a choice of "calling on your own behalf" or "Third Party" caller.
This was the first time using the third party, also the first time I spoke with an AHMSI person that spoke fluent English. He admitted that they dropped the ball I should not have had to send all those Profit & Loss statements. This should have been assigned to a negotiator a long time ago, but I should send an other 4506T, and several other documents since ithad been so lo0ng since I started this process. It was assigned to 6 different negotiators. The stress level by now is unreal. Jan 18, 2010 I had a heart attack, was out of work 4 months making a bad situation worse. I kind of gave up. By June-July we filed chapter 13. A month or so ago my wife decided we should try HAMP again things have gone a little smoother this time, we have only had to fax 3 4506T's, two Profit & Loss statements, and 2 Dodd-Franks. I do not believe the proposed mod would save us but I am not sure what to do now.