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San Ramon Short Sale Experts: Investor vs Servicer

by Scott Fuller on November 15, 2012
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Hi, everybody, Scott Fuller with East Bay Short Sale Group. We are your San Ramon short sale realtors. I wanted to talk to you a little bit about the difference between an investor and a servicer in regards to your loan, in regards to how a short sale works. So, basically the servicer of a loan is the company that you actually make the mortgage payment to. That could be Bank of America, it could  be Chase, it could be Wells Fargo; that’s who you write your check to, and they are the ones that actually service it, process all the paperwork, all the numbers. They make sure that the investor who actually owns the loan gets paid. The investor could be anything from Fannie Mae, Freddie Mac, FHA; it could be a private organization, a private individual. So that’s the person that actually makes the decision if a short sale is approved, and it’s actually the servicer who submits the paperwork and processes the whole file to send over to the investor to approve the short sale. So it’s important to understand, especially if you’re considering doing a short sale, the roles of the servicer in a short sale, and what the roles are of the investor in the short sale; who will ultimately make the decision on the short sale itself.
So if you have any questions on how that works, if you’ve thought about doing a short sale, keep in mind we’re your San Ramon short sale experts, and so contact us with any questions that you might have. We are at Thanks for listening. Hope you have a great day.

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