Short Sale Negotiator Fraud - Short Sale Superstars2024-03-29T09:33:35Zhttp://shortsalesuperstars.com/forum/topics/short-sale-negotiator-fraud?feed=yes&xn_auth=noNot necessarily true. Freddi…tag:shortsalesuperstars.com,2019-12-10:3468065:Comment:3997922019-12-10T19:24:44.350ZSmittyhttp://shortsalesuperstars.com/profile/Smitty
<p>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 was around the same time they prohibited non-mortgage debt negotiated and paid on the huds, so then suddenly third party fees are charged to the buyer, whether it was a short sale fee or execution, judgement, IRS lien, mechanics lien, etc. <br></br><br></br>Other lenders made…</p>
<p>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 was around the same time they prohibited non-mortgage debt negotiated and paid on the huds, so then suddenly third party fees are charged to the buyer, whether it was a short sale fee or execution, judgement, IRS lien, mechanics lien, etc. <br/><br/>Other lenders made their own rules. Like I said, if it's disclosed, you will rarely see fraud. It's those that are trying to get a payment out of proceeds without disclosing what they did, work they did etc.</p> Had they disclosed that they…tag:shortsalesuperstars.com,2019-12-10:3468065:Comment:3997882019-12-10T17:50:44.495ZTony Moraleshttp://shortsalesuperstars.com/profile/TonyMorales791
<p>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 </p>
<p>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 </p> The FRAUD occurred because he…tag:shortsalesuperstars.com,2019-12-10:3468065:Comment:3997852019-12-10T17:11:41.034ZSmittyhttp://shortsalesuperstars.com/profile/Smitty
<p>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 story. Bottom line, DISCLOSE DISCLOSE DISCLOSE</p>
<p>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 story. Bottom line, DISCLOSE DISCLOSE DISCLOSE</p>