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7-9-13 Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure - Effective 10-1-13.
FHA National Servicing Center
(877) 622-8525 Customer Service
1-800-489-1733 Fax
1-866-808-5050 Fax for LOA
customerservice@novadconsulting.com
301 NW 6th Street, Suite 200
Oklahoma City, OK 73102
National Servicing Center:
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Please note that effective October 1, 2014, Deval LLC will no longer be HUD's National Servicing loan servicing contractor. The new contractor, Novad Management Consulting will be your new point of contact.
For all Customer Service questions please contact [email protected]
FHA Contract Clause
"Sale is contingent upon the seller receiving prior written approval of Insert Name of Lender/Servicer."
FHA Listing Agreement Clause
“Seller may cancel this agreement prior to the ending date
of the listing period without advance notice to the broker, and
without payment of a commission or any other consideration if
the property is conveyed to the mortgage insurer or the mortgage
holder.” The sale completion is subject to approval (under HUD
guidelines) by the mortgagee.
Started by Noelle Battle. Last reply by Short Sale Superstars LLC Nov 22, 2019. 5 Replies 0 Likes
Started by Neil L.. Last reply by Short Sale Superstars LLC Oct 3, 2019. 2 Replies 0 Likes
Started by Savita Savita. Last reply by Short Sale Superstars LLC Sep 26, 2018. 1 Reply 0 Likes
Comment
Thom, I'm not aware of any additional Incentive(s) available from Chase on their FHA Loans above the $1000 that's offered as part of the FHA PFS Program. I will check with my contact over at Chase though to verify.
Has anyone completed a Chase FHA PFS and they have paid relocation ? I have a file where Chase has told the borrower they will receive $3,500 in relocation assistance but has told me not to include any such relocation assistance on the HUD. Thoughts ?
Need higher escalation ideas than Twitter and HUD. Having a terrible time getting an approval on a BofA FHA short sale. ATP issued 1/9. Offer meeting HUD guidelines sent 1/15 and no approval to date. I've escalated through Twitter and HUD TWICE! That gets me a call from the specialist but then nothing comes of it. My buyer is walking and now I've only got 30 days left on the ATP. Any other escalation ideas?? I know I can get another offer on the house but am afraid I'll have to wait another 90+ days for no approval and probably a foreclosure in the meantime. I am soooooo pissed at BofA right now. I thought they were supposed to be "getting better"!?! All I see is them getting worse
BOA is trying to change things, the FHA has not changed their Guidance on PFS.
Does anyone know where HUD states they will not allow/pay "late fees" on things like utility bills, junior liens (not exceeding $2500 and applying the seller incentive towards it first), HOA dues, etc. I have been dealing with Bank Of America on a few FHA SS and they are stating that theres been a lot of changes apparently such as not paying late fees (first I hear of this) and also only paying $750 in settlement fees?
You're going to have to go higher than that at BOA and probably get the National Servicing Center of HUD involved as well.
Thank you Kevin. When you say I have to fight with the bank to do another appraisal, I'm looking for some advice. I call my negotiator and her supervisor 8 times without response. I've emailed them equally with no response. I call the short sale department and am told they can only escalate to her manager. I've got no where else to go. What would you suggest?
If the ATP has expired the financials may have to be reviewed again.
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