Replies to This Discussion

Permalink Reply by joe beauchamp on December 13, 2013 at 10:20am

Ask them for a BPO dispute form. I'm attaching one that I got from BofA. Also, I have found Freddie will discuss issues with you.

Attachments:

• BPO DISPUTE form FHLMC.pdf, 39 KB

Permalink Reply by Evelyn Santiago on March 12, 2014 at 10:47am

Do you need a signed Third Party Authorization to speak to Freddie on behalf of homeowner?  Could not find anything on their site.

Thank you!

Permalink Reply by Evelyn Santiago on March 12, 2014 at 10:51am

Experiencing the same with PNC which states it came from Freddie Mac and they can't do anything about it except homeowner can do a DIL and still get a $3K relocation incentive.  Isn't that interesting?  H/O is current and is struggling to make payment but does not want hit on credit more than the short sale will cause.

At least Fannie Mae has an online dispute tool but I could not find anything similar on Freddie Mac's site.  If  find anything else I will let you know.  I have already blasted them on Twitter and Linkedin and will be doing a blog about it.  If they happen to be monitoring social media for any mentions they are going to get a bunch of bad info.  I did that with BOA/FHA short sales last year and got better response.  Do the same!

Permalink Reply by Evelyn Santiago on March 21, 2014 at 12:44pm

You can email the dispute/complaint directly to Freddie Mac along with a Third Party Authorization - they don't have a proprietary one like Fannie Mae email to:[email protected].  Unfortunately, my short sale was denied by PNC - they want to net 20K over market value which would be a $50K +/- more than current list price.  It appears they are pushing deeds in lieu of instead of approving short sales especially if you are current. 

 

If the hardship is traditional such as job loss, death, divorce or major medical issues you will stand a chance technically, although again no guarantees.  Because of increasing values Freddie may feel they can get a better price down the road by holding on to the asset or probably selling to an instituational buyer like Blackstone, America4Homes, if they can rent it out.  Our unit does not qualify for that - they may not even realize it since its only owner occupied - HOA changed rules.

 

Here is a good article that describes their change in direction:  http://www.inman.com/2012/08/22/realtors-applaud-streamlined-short-...

 

PNC has called the homeowner 2x asking them to make a decision on the deed in lieu program.  Any one have any other suggestions at this point?

 

Thanks!

Permalink Reply by Deborah Y Wilson on September 17, 2014 at 12:16pm

I have had success in getting value disputes done with Freddie Mac a couple of different ways. Lots of detail.  Just email me outside this program and I will get docs and information to you.  I am willing to share with everyone, just don't have the time right now.  My email address is [email protected]. 

Permalink Reply by Deborah Y Wilson on September 17, 2014 at 12:22pm

You need to use their forms but there is very specific information and processes that work.  It is not as easy as just giving them new comps and sending the dispute form in any more.  YOu have to really substantiate it and I can let you know how, just no time right now.  Email me at [email protected]