REO contact at WaMu?

I'm trying to find an actual person at WaMu who can talk to me about a house they got back in forclosure about a week ago. It's not on any of their asset management websites, and I'm trying to find out what they are planning to do with it.

Feel free to PM me if you don't want to post the info

Thanks in advance
Steve Nicewarner

Edited: 06/26/2010 at 03:51AM

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Icon_minipost Aug 07 '07, 02:09 AM

Matching a specific house to a specific loss mitigation rep is almost impossible. More than one person could be handling the file if the file is even in the system. As the house is not their property it likely will switch departments.

There is a slightly higher chance of someone providing useful info if you name the location of the property. Most large firms organize the work by location.

John Corey

Edited: 06/26/2010 at 03:51AM

Steve Nicewarner

Residential Real Estate Broker · Durham, North Carolina

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Icon_minipost Aug 07 '07, 02:47 AM

Thanks REI

The house I want to find out about is in Durham, North Carolina. It actually went back to the lender on July 24, and it hasn't shown up on the asset menagement sites they claim to use.

Thanks again

Steve

Edited: 06/26/2010 at 03:51AM

Jim Gordon

Residential Real Estate Agent · Ohio

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Icon_minipost Aug 07 '07, 02:28 PM

I have seen lenders take up to 6 months after the sheriff sale to release the home for sale. The asset management company and the realtor that will be given the listing will be taking care of the property until then.

There was one in my neighborhood whhere the owner did a deed in leu and it sat from September until March then sold in 10 days. I know the realtor that was the listing agent and he was getting upset about weekly checks on the property for so long with no chance to sell it yet.

Edited: 06/26/2010 at 03:52AM

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Icon_minipost Aug 07 '07, 03:58 PM

1. Check the public records to see if an address is listed for the lender. That office might still have the file or know where it went.

2. Contact the person who handled the sale. See if they have a contact person or know the lawyer who handled the bank's position.

3. Call a main number for WaMu and ask what office handles property that has gone back to the bank in that specific location.

4. Remember that the loan might have been sold as part of a bond pool. Who exactly owns the loan and therefore now owns the property might be unclear and not WaMu. Or WaMu might have received the loan back when the default happened given the bond pool terms and conditions.

You need to chase the details. Expect that most everyone you speak with will be paid by the hour or a salary but do not get paid to be all that helpful. This is one file. One property. If the details get lost none of the people on the phone will see a pay reduction. They will also not get a bonus if the property sells faster in most cases. Hence they are not going to be on top of their game when it comes to this one specific house. It is a number on a computer screen and not much more.

It might be worth your time but it certainly will be a rather painful experience most of the time. Painful in terms of frustration.

John Corey

Edited: 06/26/2010 at 03:52AM

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Icon_minipost Aug 07 '07, 04:27 PM

I'm trying to find out what they are planning to do with it.

I'd bet they plan on selling it " for the highest possible price within the shortest possible time" .

Edited: 06/26/2010 at 03:52AM

Steve Wrightstone

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Icon_minipost Aug 07 '07, 07:44 PM

Originally posted by "Stefanos"

it hasn't shown up on the asset menagement sites they claim to use.

Which sites have you been checking?

Edited: 06/26/2010 at 03:52AM

Steve Nicewarner

Residential Real Estate Broker · Durham, North Carolina

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Icon_minipost Aug 07 '07, 08:22 PM

According to the answering machine they dump people to, they use reoexperts.com, buybankhomes.com, and matrixasset.com. Of course, the Matrix Asset link is dead, so I know they haven't updated the message in some time.

Thanks for the tips REI. I tried contacting the local WaMu office, but WaMu pulled out of North Carolina in 2006. I'll probably hit the main office again later today.

The funny part of all this is that the former owners listed the property prior to the foreclosure. I've called their listing agent, who still has a sign in front of the house, and the listing on the MLS. He has given me every excuse under the sun to avoid telling me they no longer have the listing.

Edited: 06/26/2010 at 03:52AM

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Icon_minipost Aug 07 '07, 08:40 PM

Read the thread " Request for check list tips for Bank cold calling"

Edited: 06/26/2010 at 03:52AM

Neil Palmer

25 posts

Icon_minipost Sep 06 '07, 11:45 PM

Steve,

I have a contact at WAMU in the reo dept.
I obviously cannot broadcast it openly and I would need to courtesy call her in advance to see if she would take your call.
You would firstly need to contact me.

neil palmer

Edited: 06/26/2010 at 03:57AM

Steve Nicewarner

Residential Real Estate Broker · Durham, North Carolina

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Icon_minipost Sep 07 '07, 06:53 AM

It turned out that WaMu had passed the mortgage on to someone else. Thanks for all your help, though.

Edited: 06/26/2010 at 03:58AM

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Icon_minipost Nov 07 '07, 03:33 AM

Hello, I just read you have contact in WAMU reo dept. Kindly send me a Private message if you can, i really now need some contacts. I am in Los Angeles CA

Edited: 06/26/2010 at 04:13AM

Alex Steward

Renter · Belfort, NY

15 posts
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Icon_minipost Nov 09 '07, 04:57 AM

Cricket11

That's great. I am also interested in a property currently owned by WaMu but they seem pretty adamant about any REO offer concessions, in addition to their REO' bring over priced considering they are " as is" .

Looking at new lately, I hope they change their attitude just because their shares took a 17% dive just yesterday. I hope that will soften them.. :lol:

Edited: 06/26/2010 at 04:14AM

Jeremy Butler

Residential Real Estate Agent · San Mateo, CA

2 posts

Icon_minipost Nov 19 '07, 10:50 PM

Neil:

I'm new to the forum. Saw your post re: wamu reo contact. Much appreciated if you can share contact (and any others) with permission of course. I am a Realtor in the San Francisco/San Mateo area. Have done some BPOs for various organizations and have had some success making contacts with Reo departments, but could use all the help I can.
Thanks,
Jeremy Butler

Edited: 06/26/2010 at 04:17AM

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Icon_minipost Nov 21 '07, 06:02 AM

Jeremy,

The following is O/T but likely helpful to you.

1. Go to the new member area and introduce yourself. Check the rule and follow them closing. People want to know about you and not what you have to sell. Stuff that will help people remember you.

2. Then consider updating your signature so that it stands out a bit. Contact details or a tag line.

3. Maybe put something in the signature encouraging people to reach you through the website link you have set up in your profile. It works so remind people to use it.

John Corey

Edited: 06/26/2010 at 04:17AM

Jeremy Butler

Residential Real Estate Agent · San Mateo, CA

2 posts

Icon_minipost Dec 18 '07, 03:43 AM

John:

Thank you for your advice and help.

Jeremy

Edited: 06/26/2010 at 04:23AM

Lauro Ruiz

Real Estate Consultant · Tustin, CA

12 posts

Icon_minipost Jan 09 '08, 01:04 PM

For sure I would imagine WaMu is having alot of fun in the REO arena! If anyone knows what I mean by " Whats up with the Voicemail " let me know..... :wink:

Edited: 06/26/2010 at 04:29AM