no problem gn,
We are a servicer so all of the loans we deal with are already securitized. There are however different levels of delegated authority within each of our assigned portfolios. For example if I have been assigned all of our Alt-A or Subprime loans, there may be more scrutiny placed on the the original HUD1 to see if there was cash taken out or going over the borrowers bank statements to see if there was a true “hardship” or simply negligence. If it were an A paper portfolio we may simply look at their recent payment history to show that the borrower was maintaining the payments and then simply refer to the latest appraisals that dictate the current market values. You have to keep in mind that short sales usually fall under some type of hardship classification for a servicer. Bottom line is that each investor has their own authority thresholds. Some investors like to be more hands on, while some investors let the servicer make the decisions.
