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Freddie Mac Standard Short Sale FAQs
FreddieMac Short Payof Overview.pdf
Check your loan here to see if Freddie Mac is the investor:
https://ww3.freddiemac.com/corporate/
Freddie Mac Seller / Servicer Guide:
lLook at CH 64 - 69 Servicing Non-Performing Mortgages>
http://www.freddiemac.com/sell/guide/ Click on the Allregs Link
New Initiative to get Fannie and Freddie on the same page:
Contact Info
Freddie Mac Borrower Outreach 877.518.8429
Freddie Mac: 800- FREDDIE press 0
email structure: [email protected]
Freddie Mac Investor Guidelines Info
Started by Ashley Den Uyl Sep 28, 2015. 0 Replies 0 Likes
I have a buyer doing an RD loan on one of my short sales and is asking for roughly 4% closing cost to be paid by the seller. Does Freddie Mac allow more than 3% seller concessions with an RD loan?Continue
Started by Ashley Den Uyl Sep 28, 2015. 0 Replies 0 Likes
I have a buyer doing an RD loan on one of my short sales and is asking for roughly 4% closing cost to be paid by the seller. Does Freddie Mac allow more than 3% seller concessions with an RD loan?Continue
Started by johnna lodge. Last reply by Kevin - Greenville, SC Aug 3, 2015. 2 Replies 0 Likes
Hi All,I know FHA provides seller contributions at closing for owner occupied sellers.Does freddie mac provide owner occupied contributions for owner occupied properties still?thanks,JohnnaContinue
Started by L Brown. Last reply by L Brown Feb 12, 2015. 2 Replies 0 Likes
We're initiating a short sale with Plaza Home Mortgage and were surprised how quickly they filed a Notice of Sale after the loan mod failed. They are quoting 23 days to auction.This is a Freddie Mac…Continue
Comment
I'm not aware of any guideline. time for escalations.
6 months
how long is your states redemption period?
Does Freddie Mac have a guideline that requires the short sale to be approved within 3 months of the redemption period? PNC Bank is telling me this is the reason they shut down my ss file..... :-(
Is Freddie Mac contributing funds to seller at closing for an owner occupant or has that changed?
Thanks guys. Already restarted the file, and BofA has open inquiry to Freddie for response. Buyer is now delinquent this month, and it appears they were demanding more than full payoff as the offset is only $28k not $30k+.
It does not pay to do the right thing by borrowers, only what is necessary to complete a short sale.
I agree with Kevin, it could very well be because the borrowers are current. The other idea is to try a value dispute and to keep pushing the fact that the borrower(s) are facing imminent default.
310-564-6389
Jeff, It's very common for Freddie to do that on loans that are current. A BPO is just one piece of the puzzle too.
Need a little help on a Freddie Mac issue. We had an offer of $209k and BPO value at $208k with Seneca Mtg(on behalf of BofA). They just declined out saying freddie wants $30k more than fair value. I have never seen this before and I have done hundreds of short sales. Before we go directly to Freddie, does anyone have any ideas? The seller is current on their mortgage as well.
Jeff
Yea, thanks Bryan and Kevin!
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