"Well, what we did was pull all sales in the county from list until CLOSING which wasn't easy info to find, because on our MLS it only lists from list until UA. So we found that traditional sales took an average of 100 days from LIST…"
"Not necessarily true. Freddie and Fannie did not allow third party negotiation fees until recently. I believe this year. Somewhere around 2013 - 2015 they prohibited 3rd party negotiation fees out of proceeds. I believe it…"
"Had they disclosed that they were asking for a credit and that credit was going for short sale negotiations then the bank would decline. Paying out of commissions has always been acceptable as it is not an additional loss "
"Interesting. What if they could argue that "we did have enough time" What do you feel the results would of been then? I had two approved short sales die because of this guideline when the buyers fell through."
"JUST FYI we had this happen on our files. Complained to cfpb and SHOWED them that it was impossible to list, get under contract and sell a short sale in the time SPS allotted. Also sent to AG's office. Now all four files are being…"
"The FRAUD occurred because he didn't disclose what he was doing. Fannie mae actually states that a third party negotiator can be paid out of commissions. This guy was also transfixing HUDS etc. SO there is more to the…"
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