Hmmmm Countrywide demands (foreclosure, mortgages, credit report)

[bigfoot55]

I'm looking at a foreclosure and the listing mentions " Come see S-----y at Countrywide for your preapproval"...maybe not exact words. I asked selling realtor what was with the pitch. He said I needed to provide my LSR to Countrywide or I can't bid on the home. I researched all county records and obtained the deed info; nowhere is Countrywide listed. I have to assume they are servicing the loan for title holder. I went to an approved financial institution and submitted a loan application; I forgot to mention, I'm doing a USDA 100% financed loan. I was "golden" with a 770 score. When my lender tried to submit my LSR to Countrywide, Countrywide told my lender THEY wanted all my personal information so THEY could submit my LSR. I see this as a conflict of interest as S-----y at Countrywide is in direct contact with title holder and will have complete access to my bidding strength....how is this fair or ethical?

[azjack]

Countrywide has that on every MLS listing where it held or serviced the loan. I would not submit my info to them either. All you need is another hard pull of your credit report while applying for mortgages. And it is not exactly like Countrywide is the most trustworthy business anyway. Submit the offer without it. If they balk, there are not thousands of other bank-owned houses available in Arizona.

[ji603]

Same deal here this week, but with Wells Fargo Home Mortgage. Have another lender lined up, but before the bank will accept an offer, they need an LSR from their preferred bank... not too into that either.

[azjack]

Unless one is a "Friend of Angelo," I would just as soon leave Countrywide out of my life.


Oh, typo above, I obviously meant to say there ARE thousands of other bank-owned houses in Arizona.