Midland Mortgage Co. Loan Modification

Midland Mortgage Modification Process

Midland has the similar conventional loan modification process which most of the companies have. The process is further explained below:

1. Interview By Phone The process of Midland loan modification initiates by a phone interview.
2. Package Submission After the interview the second process the complete filling out of the Midland Request For Mortgage Assistance (RMA) form which requires the complete documentation of the financials.
3. Midland BPO  (Broker’s Price Opinion) Sometimes during the loan modification process valuation of the property is required, for this broker’s price opinion is obtained. 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. Sometimes the documents have to be resubmitted again and again. The departments give you the run around from department to department. Their transferring you from Midland loan modification department to customer servicing department and 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.

Midland’s Home Mortgage Loan Modification Timeline

There are a lot of levels of bureaucracy in a company like Midland Mortgage. Due to this the timeline of modification of Midland loan modification 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, Midland is a company that functions as a loan provider only. They represent dept on somone else’s behalf. This majorly limits the decision taking capabilty of Midland. 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 which 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 Midland Corp’s hands tied.

Another issue, Timeline is priority in Midland 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 your 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 Midland have 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.

Midland 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 A Penny Mac Loan Modification Decline

Have you been declined by PennyMac? Has PennyMac Corp. 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 PennyMac Home Mortgage loan modification was rejected. Have us review your declined modifcation for free by calling us at 888-934-3444.

Additional Midland Co’s Mortgage Contact Information

Midland Corp. Customer Service

Midland Corp. Home Mortgage Complaints