Bank of New York Mellon REO question

Foreclosures
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Bank of New York Mellon REO question

Rob Rey
Member since 2008 · 37 posts · 5 votes

Does anyone know if Bank of New York Mellon occasionally sells properties that never hit Realtor.com ?

And if so , do you happen to have any info, such as who they might use to dispose of REO's you can give me ?

Does anyone know who they tend to use to help them with their REO's ?

any info at all that can give me a contact would be much appreciated

I have been doing some research on the deeds site and I notice they manage to dispose of some REO's in Massachusetts yet I cannot find evidence that the property
ever hit Realtor.com or a similar site

Would anybody have a guess how BNY Mellon might be disposing of REO's without using the typical Realtor.com network ?

I am looking for a contact for BNY Mellon so I can see if a properties of there's is sold or ever will be sold ?

There is a lockbox on the property, bit it just sits there empty month after monrth .

Bank of NY Mellon took 8 months to kick the people out AFTER they had fully foreclosed on it , and it has now sat empty for 4 plus months .

A neighbor thought she had saw a sign in the front yard
that had the word foreclosures on it plus a 1 800 number
but the sign disappeared , possibly simply either the sign blew away, or kids removed it, or some local rep of BNY Mellon removed it .

So to sum this up , any info or contact you can give me for BNY Mellon is much appreciated

I sent them an email, havent heard back from them yet

thank you

.
.

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Chris Martin
Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
13y

Not directed at you Linda, but I think a lot of you are barking up the wrong tree. Check the deeds to find the owner. As Rob Rey pointed out in his May 12 post, BoNY acts as trustee and document custodian for certain mortgage-backed security (“MBS”) securitization trusts. The are not the decision maker for these foreclosures. In my county, the property card has /TR or TRUSTEE in the name, like this:

Property Owner
BANK OF NEW YORK MELLON THE /TR

And if you look at the contact information, the property card (in one of the 35 properties "owned" by BoNY) has this address:

Owner's Mailing Address
OCWEN LOAN SERVICING LLC
1675 PALM BEACH LAKES BLVD STE 402
WEST PALM BEACH FL 33401-2122

So in this case, talk to Ocwen, not BoNY. If you can't figure it out from the property card, look at the deed (like this one.) In the example above, the wording for the Grantee is THE BANK OF NEW YORK MELLON, as trustee on behalf of the registered certificateholders of GSAMP TRUST 2004-SEA2, MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-SEA2 c/o OCWEN LOAN SERVICING LLC, 1675 PALM BEACH LAKES BLVD STE 402, WEST PALM BEACH FL 33401-2122.

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  • Jeff TumbarelloPro Member
    Real Estate Broker · Fort Myers, FL · Member since 2008 · 1k+ posts · 323 votes
    17y

    they are sitting on the home rather than charge it off, sometimes they get lost in the shuffle.

    0Reply
  • Rob Rey
    OP
    Member since 2008 · 37 posts · 5 votes
    17y
    Originally posted by Jeff Tumbarello:
    they are sitting on the home rather than charge it off, sometimes they get lost in the shuffle.

    This is sort of what I am thinking on the particular house
    I am interested in.

    I have heard BNY Mellon is very slow to dispose of properties .

    The part I cant figure out is how BNY Mellon managed to dispose of other properties in my area that I cant find evidence the property ever hit the MLS system or Realtor.Com ?

    I am wondering if they are selling some properties off the
    MLS or realtor.Com system ?

    Does anybody out there think BNY Mellon is disposing of proprties off the MLS, Realtor.Com system, and if so,
    can someone give me a lead into how they are getting rid of those properties ?
    .
    .

    .
    .

    1Reply
  • Rob Rey
    OP
    Member since 2008 · 37 posts · 5 votes
    17y

    Briefly:

    To wrap this up:

    BanK of NY Mellon responded to my email

    I was wrong about them owning the property I was interested in.

    BNY Mellon informed me they were the Trustee of the mortgage certificate, but not the actual owner.

    They provided me the name of the mortgage company
    they believed owned the property in question .

    I then contacted that mortgage company, and after a little bit of phone tag, I managed to speak to someone in their REO department . The person I spoke to coughed up the lockbox code with very little begging on my part. I was kinda surprised he coughed up the lockbox code that easily. The mortgage company REO guy then quoted the price they were hoping to get for the property.

    The price he quoted was way way more than I had envsioned .

    I still went and looked at the property, and to say the least, I was disappointed . I took the time to call back the guy form the REO dept, thanked him for his time and professionalism, informed him I had secured the property properly and he need not worry that I left the property unsecure. He asked me if I had an offer price in mind, basically I stated we were way to far apart to even begin negotiating a possible deal. I plan on emailing him information on a couple of comps that sold on the same street of the property i was interested in. The Comps sold on the same street, but on a worse section of the street . He wont know that , he's in Florida,
    and I'm up in a Northeast State. I think he said he plans on putting the property in the hands of a Realtor soon . If a Realtor tells the mortgage comany to list the propertyt for anywhere near what he quoted me , then the Realtor is just snowing them, in hopes of getting the listing .

    I have an email for someone in the REO dept of BNY Mellon if anyone is interested in the future.

    3Reply
  • Jimmy Diego
    Member since 2009 · 1 post · 0 votes
    17y

    Rob Rey, I would like contact info to the REO dept at the Bank of NY Mellon. They have a property that I'm interested in.

    0Reply
  • Jeff TumbarelloPro Member
    Real Estate Broker · Fort Myers, FL · Member since 2008 · 1k+ posts · 323 votes
    17y

    I would like the email if you do not mind. My email is in the sig line

    0Reply
  • Rob Rey
    OP
    Member since 2008 · 37 posts · 5 votes
    17y

    Hello:

    Sorry for the delay

    Try this person,

    Alissa A. Reatz, Assistant Treasurer · The Bank of New York Mellon

    Global Corporate Trust
    Mortgage Backed Securities · Fax

    1Reply
  • C T
    Member since 2009 · 1 post · 0 votes
    17y

    Have any of you had any luck getting through to NY Mellon Bank regarding a foreclosure. I tried the e-mail that was listed in this forum as a contact for NYB but have not gotten a response.

    0Reply
  • Valentin Pfost
    Interior Decorator · Wakefield, RI · Member since 2010 · 1 post · 1 vote
    16y

    Be careful what you wish for. I am in the process of buying an REO from BNY Mellon;They have complicated practically every step of the process, quite un-necessarily.I plan to tell them at the closing what bastards they are. You REALLY don't want to buy an REO from this bank, that is unless you really don't mind being stymied and aggravated to the point that you want to walk away from the deal. :cry:
    Bear in mind, they're being sued in NY for withholding the fact they were doing business w/Bernie Madoff; they carefullywithheld that from their investors. May not be altogether an above-board entity.

    1Reply
  • Alex Anderson
    Real Estate Agent · Milwaukee, WI · Member since 2010 · 129 posts · 24 votes
    15y

    i'm about to look at a property owned by BNY Mellon on Friday...the asking price is $44k and the city assessed the property at $197k a few years ago, now it's down to $165k assessed. Market value is approx $117k. The place appears to have been vacant for years, according to the city inspectors...wish me luck :)

    0Reply
  • Maria Videla
    Member since 2011 · 1 post · 0 votes
    15y

    Hi I read your comments and I am also trying to find put more information on a property that this bank has, however I could not find the information to contact Alissa Reatz. Would you mind providing that to me? Email or phone number will do!

    0Reply
  • Chad Hunter
    Marietta, GA · Member since 2011 · 3 posts · 0 votes
    15y

    If someone could forward that information to me as well that would be greatly appreciated. I am looking to obtain multiple properties that are being held by BNY. PLEASE ASSIST.

    0Reply
  • Lisa Casey
    Member since 2011 · 1 post · 0 votes
    15y

    I am also trying to locate a phone number for the Bank new york mellons REO department. Could some one please forward the information to me thanks.

    0Reply
  • N.A N.A
    Newport Beach, CA · Member since 2012 · 1 post · 0 votes
    14y

    SOOO???? can someone please post the contact name/numbers for reaching the Bank of NY Mellon REO dept?
    THANK YOU!!!!!

    0Reply
  • Linda Emory
    Greensboro, NC · Member since 2012 · 1 post · 0 votes
    14y

    I am wanting to purchase a foreclosure in NC that Bank of NY Mellon now owns. I would appreciate it if you would share the phone number. I have tried to communicate with them via email - no success. Thank you.

    0Reply
  • Alisha D
    Dallas, TX · Member since 2012 · 1 post · 0 votes
    14y

    I know this is a old posting, but can someone please send me a email to contact Bank of New York Mellon REO department.

    0Reply
  • Account Closed
    Huntington, NY · Member since 2012 · 1 post · 0 votes
    13y

    Same. I would like to inquire with the bank about a property they own in my neighborhood. Would appreciate contact information.

    0Reply
  • Chris Chao
    South Pasadena, CA · Member since 2012 · 1 post · 0 votes
    13y

    Hello,
    If someone would forward me the contact info for the Bank of New York Mellon REO department, I would appreciate it.
    Thanks!

    0Reply
  • Chris Martin
    Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
    13y

    Not directed at you Linda, but I think a lot of you are barking up the wrong tree. Check the deeds to find the owner. As Rob Rey pointed out in his May 12 post, BoNY acts as trustee and document custodian for certain mortgage-backed security (“MBS”) securitization trusts. The are not the decision maker for these foreclosures. In my county, the property card has /TR or TRUSTEE in the name, like this:

    Property Owner
    BANK OF NEW YORK MELLON THE /TR

    And if you look at the contact information, the property card (in one of the 35 properties "owned" by BoNY) has this address:

    Owner's Mailing Address
    OCWEN LOAN SERVICING LLC
    1675 PALM BEACH LAKES BLVD STE 402
    WEST PALM BEACH FL 33401-2122

    So in this case, talk to Ocwen, not BoNY. If you can't figure it out from the property card, look at the deed (like this one.) In the example above, the wording for the Grantee is THE BANK OF NEW YORK MELLON, as trustee on behalf of the registered certificateholders of GSAMP TRUST 2004-SEA2, MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2004-SEA2 c/o OCWEN LOAN SERVICING LLC, 1675 PALM BEACH LAKES BLVD STE 402, WEST PALM BEACH FL 33401-2122.

    5Reply
  • Juan Maldonado
    Austin, TX · Member since 2012 · 137 posts · 62 votes
    13y

    The phone number is: [REMOVED]
    When you call it says to send and email to: [REMOVED]

    0Reply
  • Trevor Rutherford
    Wholesaler · Dayton, OH · Member since 2013 · 172 posts · 16 votes
    12y

    Any chance I could get that email?

    0Reply
  • Serenity A.
    Renton, WA · Member since 2015 · 1 post · 0 votes
    11y

    Can someone give me the REO contact for Bank of NY Mellon?

    0Reply
  • Darmi Parikh
    Real Estate Professional · Burr Ridge, IL · Member since 2014 · 38 posts · 1 vote
    11y

    Hello: . 

    I am interested to get REO contact, phone & email for Bank of New York Mellon.

    Can some one point me to right direction to contact NYMellon REO property contact.

    Thanks

    0Reply
  • Carlos Turner
    Union, NJ · Member since 2016 · 1 post · 0 votes
    10y

    Any chance i can get that information as well?

    0Reply
  • Wayne Brooks
    Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    10y

    An absolute total waste of time.

    1Reply
  • Karla Dillard
    Brownwood, TX · Member since 2017 · 1 post · 0 votes
    9y

    Hello! 

    Old thread, but wondering if anyone has the contact info for the REO dept. for BNY Mellon.

    0Reply
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