Seterus Inc. Loan Modification

Seterus Inc. Mortgage Modification Process

Seterus Inc. Modification process goes through the same conventional process which the most mortgage companies have. The process is further explained below:

1. Interview By Phone The process of the loan modification is started by a phone interview with the customer servicing department of Seterus Inc.
2. Package Submission After the interview the second process the complete filling out of the Seterus Inc. Request For Mortgage Assistance (RMA) form which requires the complete documentation of the financials.
3. Seterus Inc BPO  (Broker’s Price Opinion) Sometimes the broker price opinion is required for the property for the loan modification process. Sometimes Automatic valuation model is used for the valuation.
4. Negotiations In this stage of the process the terms are negotiated and reviewed and the reviewed terms are sent to the underwriting for approval.
5. Modification Approval/Decline The servicer responds on behalf of the client about the approval or decline of the modification application.

We regret to say that the process is never this easy. We Absolute Consultant Group (ACG) are a company that supports the homeowners through the loan modification process. The runarounds are normal during the modification process. Sometomes the documents have to be resubmitted again and again. The departments give you the run around from department to department. The transfer from Seterus loan modification department to customer servicing department their transferring you back to customer service is pretty normal. Coming to our staff rather than submitting the wrong information, getting denied or not being able to figure out what to do can save you a lot of trouble. Our staff is available to review your paperwork and to help you step with the best foot forward. Call us at 888-934-3444.

Seterus Home Mortgage Loan Modification Timeline

There are a lot of levels of bureaucracy in a company like Seterus Inc. Due to this the timeline of modification of Seterus Inc. mortgage varies  due to reasons that sometimes are very straight but not always. Here are a few reasons why the answer to this question has such complicated answer.

For one, Seterus Inc. is a company that only functions as a loan provider. They represent dept on someone else’s behalf. This limits the decision taking capabilty of Seterus Inc. As a home loan servicing company they follow the Pooling and Servicing Agreement (PSA), This serves like an agreement with all institution. They are allowed to make some decisions on the investor’s behalf for ehich they are servicing the loan but not all the decisions. This means that they have to get permision from the investor for every loan modification that they want to make. Certain investors take the process of making decision and do it themselves. In this kind of regulated business the more hands involved the longer it takes in processing leaving Sterus Inc’s hands tied.

Another issue, Timeline is priority in Seterus Inc’s loan modification. The servicer usually prioritize the application by the date it was received but it depends upon other factors too. The applications are usually sorted by first come first serve basis but it depends on if you have a near foreclosure date. If that is the case then it is likely that you application will be pushed to the front of the line and considered sooner for the mortgage asisstance. It must be kept in mind that the institutions like Seterus Inc havr foreclosure dates for almost every day. Due to this, the process does not proceeds as quickly as you want it to.

• Lastly, All mortgages are not created equal. There are a large number of programs each with different terms that how they will modify your loan. Mostly, if the first program does not work for you or them they will consider you for the next one and so on untill they find the mortgage solution that works. Departments due to these conditions are very specialized so many times different representatives handle different parts of the review.

Seterus Inc’s Home Mortgage Loan Modification Timeline Conclusion: While we would like very much to give our customers the exact timeline for the loan modification. the timelines vary greatly from customer to customer. It depends on whether the servicer can take the decision themselve or they have to send it to the investor for approval. It depends on whether you fit the first program you are reviewed for or the 10th or 11th. It also depends on the factors from outside the bank such as how fast they can get the valuation on the property and how fast they receive the legible documents.

Dealing With An Seterus Loan Modification Decline

Have you been declined by Seterus? Has Seterus Inc. denied your request for Home Loan Modification? The Decline can be confusing. Understanding the details of all the plans and how that conflicts with your information is key. Here at ACG we have dozens of points we review in order to understand why your Seterus Home Mortgage loan modification was rejected. Have us review your declined modification for free by calling us at 888-934-3444.

Additional Seterus Inc’s Mortgage Contact Information

Seterus Inc Customer Service

Seterus Inc. Home Mortgage Complaints