Product: Mortgage

Mr. Cooper/Natioanstar and XXXX XXXX XXXX XXXX are FORCING A FORECLOSURE Re : Mr. Cooper Mortgage Loan : # XXXX XXXX XXXX XXXX Policy : # XXXX ( Mortgage Insurance Purchased by Lender at Origination ) Property Address : XXXX XXXX  XXXX XXXX. XXXX, MD XXXX Please help us avoid a forced foreclosure. My wife and I are seniors ( XXXX ). Our main source of income is Social Security Retirement. Mr Cooper and XXXX XXXX XXXX  XXXX ( XXXX XXXX ) have rejected our good faith attempts at loss mitigation and cancelled a short sale which indeed had met their indicated BPO. Mr Cooper and XXXX XXXX appear to be manufacturing excuses to force foreclosure on us. Further, while Mr Cooper has invited us to apply for a deed in lieu, its Representative at the same moment of this invitation indicated that the deed in lieu will also be rejected ; thus forcing foreclosure. 



Why I think Mr Cooper / XXXX XXXX are Manufacturing Excuses to Force Foreclosure : After nearly 6 months in negotiating two short  sale offers on our property, Mr. Cooper provided a response indicating that the mortgage insurance company, or investor, declined to participate in the program. This clearly is a manufactured excuse. I am saying this because we had been in a short sale negotiation with Mr Coopers from XX/XX/XXXX to early XX/XX/XXXX. If indeed XXXX XXXX does not participate in the short sale program, what was behind the six months of negotiations? Throughout that period we presented two offers : the first offer expired and the buyer walked away in frustration ; the second offer enjoyed negotiations from Mr Cooper and XXXX XXXX On XX/XX/XXXX Mr Coopers negotiator indicated that XXXX XXXX would like to see the buyer on the second offer increase the Offer Price, and indicated that a price of {$370000.00} would be accepted by XXXX XXXX, the mortgage insurance company. In response to the request, on XX/XX/XXXX the buyer increased the offer by {$10000.00} to {$370000.00} to meet the suggested acceptable counteroffer, which also met the indicated BPO. Further, as Mr Cooper and XXXX XXXX were mulling this over, on XX/XX/XXXX the buyer indicated in writing here willingness to increase its offer further to {$380000.00}. This new higher price was duly communicated to Mr Coopers negotiator by our negotiator ( XXXX XXXX ). Nonetheless, on XX/XX/XXXX, Mr Cooper communicated its cancellation of the short sale citing that the Mortgage Insurance or the Lender does not participate in the short-sale program ( see supplied document ). 

Actions and behaviour taken by Mr Cooper in the 6 months from XX/XX/XXXX through XX/XX/XXXX indicate that the excuse for not accepting the short sale is manufactured and that for some reasons unknown to us these parties prefer to force foreclosure. 

Predatory Real Estate Loan The mortgage loan for this property was provided by XXXX XXXX in XX/XX/XXXX at the height of the real estate market by one of its aggressive originators ( Aurora Loan of Colorado   ). The loan was set at 100 % loan to value, it was an interest only loan for 10 years and had a prepayment penalty for 3 years. At the time of underwriting this loan, XXXX XXXX, its financial analysts, risk underwriters, and real estate specialists must have known that these conditions made the loan very susceptible to creating an upside-down mortgage situation in any market downturn. XXXX XXXX did not care about the riskiness of the loan because it had plans to bundle the loan with others, securitize it, and offer it to investors. To increase its transaction profit and to entice investors, XXXX wrapped the loan with a Mortgage Insurance from XXXX XXXX. XXXX failed as a financial institution in XX/XX/XXXX, and not long after XXXX XXXX also failed. XXXX XXXX was put into Rehabilitation by Illinois Insurance Commissioner in XX/XX/XXXX. 

We first faced financial trouble when I became unemployed in XX/XX/XXXX. Because of my age, and the type of work I did, I could not find steady employment since that time. Unable to live in the property, but wanting to meet my financial commitments, I went ahead and found renters for the property. In XX/XX/XXXX, our last tenant gave us a 30-day notice that they will vacate the property. I immediately listed the house as For Sale or For Rent. However, we could find no buyer nor renter. Even without the rental stream, we continued to make my mortgage payments of nearly {$3500.00} for 3 months. Finally, I could no longer support the payment and defaulted. 

Request for Help The current real estate market conditions are in decline. Housing starts have fallen for the last four months. This is an indication that prices will continue to soften. But, with the original lender bankrupt, and the mortgage insurer in Rehabilitation, we are suffering from poor decision making towards loss mitigation. 

We would like to have Mr Cooper and XXXX XXXX reopen negotiations on a short sale and allow us time to find a new buyer or at a minimum allowing us to proceed in good faith towards a Deed in Lieu Cordially,