Does anyone know what bank took over Option One Mortgage Corp. I'm interested in a property which they were the lenders. I've read a few article online saying the were bought out by a gentlemen by the name of Wilbur Ross. I've done a million google search and still nothing. If anyone in the forum has any information on this bank please reply. Thank You
Real Estate Rocks
Option One Mortgage Corporation named changed to Sand Canyon Corporation.
Sand Canyon Corporation is an investor and not a Mortgage Servicer so interfacing with SCC will be difficult. American Home Mortgage Servicing is one of the parent company's servicing arms but the loan 'could' be with another servicer like Ocwen Loan Servicing. Or any of the other large servicers.
You can try AHMS first as just a shot in the dark. There is a chance it is there. If they do not have it you might have to look up the assignments or even better would simply be a coupon from the Borrower to see who is servicing it.
Thank you, the information given was very helpful. I'll let you know the outcome. I have been eyeing this property for some time. The neighborhoods says it had been abandon for the past seven years. It has the potential to be a great flip depending on how much the bank is asking. The door were open so I was able to have my contractors go in and give me an estimate. I need all the luck I can get to retain this property. Thanks again
@Danielle Thomas I was searching online for Sandy Canyon Corporation and this post came up. Did you ever find out any other information or contacts? I have a property I am looking at and Sandy Canyon Corporation was the last investor as a grantor. I'd like to know who services the loan. There are notices on the door with phone numbers directing to Wells Fargo, but they've backed the loan, and not actually the servicer.
@Dion DePaoli Since you've last posted this have any other info on the loan servicer?
Any info would be great.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.