If I know the final Investor in a Loan, Could I bypass the Servicing Co. ?

Hi, I am in the last stage of my negotiation, I found out the final investor is Washington Mutual. The servicing company is Citi Residential Lending. They are taking all their time and I ready to close with my end buyer. Could I just go to Washington Mutual and get from them the short sale pay off figure?, What do you think ??

Thanks for any help !!


Yes, it’s always better to go straight to the investor in a short sale. However, your subject property will still need to have a loss mit assigned to it. You’ll have to find out who that person or department is. You could try asking the person you are working with now, but odds are they won’t know. ( have a ss with Saxon that took 2 months for a loss mit to be assigned to it!)

When and if you get the right department at WaMu, you will need to submit the entire package as if it was the first time. If you have a Net Sheet or calculations already worked out, that will speed things up.

If you still need to get an actual loan payoff, the seller/homeowner can request it from the bank/servicer or you can request it if the seller has authorized you to do it. Sometimes they charge $10-$20 for the service, that they will add to the balance of the payoff.