Comment

Comment by Kevin - Greenville, SC on November 29, 2011 at 3:10pm

Is it a MERS Loan?

Comment by Victoria Frieberg on November 29, 2011 at 3:09pm

yes, always do the lookup right away, and repeated with as many variations of the address as seemed likley.   will have to go with the qwr..although I know the agent doing the 'watching' for Fannie..and she was instructed to rekey etc by her fannie asset manager.

Comment by Kevin - Greenville, SC on November 29, 2011 at 3:08pm

Ask Wells Fargo who this investor is.  If they won't tell you, have the homeowner send in a QWR requesting disclosure.

Comment by Victoria Frieberg on November 29, 2011 at 3:04pm

so, listed a fannie short sale with wells.  wells will not accept any paperwork except the authorization letter, saying they will not review anything unless the home has an offer, then I can resend financials etc. When I looked up the property at the initially, lookup says not a fannie..but in the meantime a Fannie agent has locked us out, winterized and taken control of the home. redid the look up for fannie under both owners, both socials...still says not fannie... hmmm..must be Fannie..very confusing,

 

Comment by Tom Olsewski on October 26, 2011 at 10:37am

I have a B of A Fannie Mae 1st and a USAA 2nd. USAA wants 10% to settle and BofA/ Fannie will only offer max 6%. I have approvals from both but $$ doesn't match. Anyone have any luck with Fannie getting them to pay second more then 6%?

 

Comment by Amy Martin on September 26, 2011 at 6:04pm

Hi Kevin, will call you tomorrow. Thanks again!

Comment by Kevin - Greenville, SC on September 26, 2011 at 5:08pm

Amy,  I'll be happy to talk with you about this.

 

864-485-9283

Comment by Amy Martin on September 26, 2011 at 5:06pm

I am contemplating whether I will cancel listing or not.

My clients, one unemployed and spouse working, insolvent, received an N.O.D. One Loan with Bank of America, have Mortgage Insurance, Fannie Mae, tried 2 loan modifications with BofA and decline, have not paid mortgage for 3 years now, HOA current, Value of home is about $275K, behind $70K, owe $475K.

After 1 week in the market, I secured 2 buyers, 1 FHA and 1 VA asking for closing cost.  I am hesitant to even try a FannieMae HAFA, what do you think? Our buyers are asking for 3% closing cost and in the past, I get declined and lender wont pay for closing cost, is that still the case? My sellers said that they dont care if their home gets foreclosed and would not contribute any penny to the sale. I told them we can try Fannie Mae HAFA but I have a strong fear that its not going to happen. They even said to me that the only reason why they would be considering to do a short sale is to get the $3,000.00 incentive, if not they will allow their home to foreclose so they get the cash for keys. I dont see any motivation for me as an agent. My assessment is that its too risky for me to continue and maybe a waste of my time. Appreciate your feedback. Thank you in advance.

Comment by Nancy Fung Martin on June 22, 2011 at 7:28am

I have a short sale with Fannie Mae as the investor and Bank of America is the servicer. BofA is just useless. I requested a postponement to the Trustee sale 2 weeks prior to the date of June 22, 2011. All I got from the Equator negotiator is denied. I even contacted the VP office at BofA and he said Fannie Mae denied it because the file is still in process. It's still in process because we are waiting for Fannie Mae approval. I was getting no where with Bank of America so yesterday, one day before the trustee sale I looked up Fannie Mae stock symbol information which has the  headquarters phone number and called the CFO. Amazing I got his assistant. She told me to fax over a letter explaining the situation and she will get back to me and gave me her direct fax number. Thank goodness she or the CFO postponed the foreclosure date.  Yeah!!

Comment by Kevin - Greenville, SC on June 15, 2011 at 4:43pm

A nice little excerpt to use with the Servicer's of Fannie Mae Loans - 

 

VII, Chapter 6: Foreclosure Prevention Alternatives (10/31/08)

Fannie Mae does not want to foreclose a delinquent mortgage loan if there is a reasonable chance of avoiding foreclosure. If the reason for default appears to be long-term or too serious for the short-term relief measures that are discussed in Chapter 3, Delinquency Prevention, to be effective, the servicer must consider Fannie Mae’s permanent foreclosure prevention alternatives.

• ‹ Previous
• 1
• …
• 5
• 6
• 7
• 8
• 9
• Next ›
• Page