Posted by John Corey on March 22, 2006 at 05:31:29:
Bank owned REOs can experience slow responses. Hence nothing for 10 days is not a surprise. Some of the time the response happens quickly. I have seen really long delays at various stages when dealing with a lender as the seller. Some of the time it matters if we are near a holiday, the end of the month, the end of the quarter, etc. One deal took 60 days to close after the accepted offer because the lender was slow to find the paperwork and Christmas was in the middle. Another lender offered an extra $1,000 off is we could close quickly.
Ocwen might have other issues as other folks have posted.