Deutsche Bank ranks mortgage servicers on short sale timelines

For prime mortgage servicers, GMAC conducted short sales the fastest, averaging roughly six months per transaction. Also, 53% of their dispositions were short sales. It had a recovery score of 59.3.

The next fastest servicer was Citigroup’s servicing arm CitiMortgage, which did a short sale in about seven and a half months, and 56% of dispositions were short sales for a recovery score of 54.4.

Third, was Wells Fargo, conducting short sales in roughly eight months for 34% of its total dispositions. It had a higher recovery score than Citi, however, at 55.6.

Countrywide, acquired by Bank of America, had the slowest short sale timeline. It took more than 13 months on average to conduct a short sale there. BofA took more than 11 months, but 59% of its dispositions were short sales. BofA had the lowest recovery score at 45.5

About Stout Law Firm

James Stout has practiced law in Orange County since 1995 and is highly regarded by the business community. He has passed three bar exams, California, Arizona and Nevada.
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