Sunday, March 2, 2008

Try Examining The Short Sale Backwards

You cna try to examine the short sale backwards. the way you do that is to look at the short sale moving forward (as if it was a long sale) and then remove the setps by truning the short sale forwards. This is an about face short sale and is reminiscient of teh Florida short sales in Orlando that larry was discussing.

Loss Mitigation Department in Orlando for Countrywide had the loss mitigator fired for working too slow. he spilled coffeee on the supervisor loss mitigator and then the report came back to Angelo Mozillo that loss mitigation at Countrywide was underperforming on their loan modifications. This subprime conversion of the 2/28 to the five year teaser rate extension on an Orlando loan modificatin was unusual and so Angelo (the tan man) grabbed some SPF and threw it at the supervisor loss mitigator. Anyway, at the end of it the Orlando loss mitigation deprtament had one less loss mitigator in Florida. And the short sale took a lot longer for the Florida short sale realtor.

Now don't get me started on Indymac's loss mitiagtion department.

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