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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
Does someone have info on this situation?
I have a Freddie 1st and a Wells 2nd, both serviced by Wells.
My client would like to fully settle the 2nd at time of closing, making an additional payment if necessary.
Wells is stating that Freddie policy prohibits them from negotiating and settling the 2nd at time of closing. Rather, this must be handled one week after closing.
This is NOT a Freddie/HAFA sale, btw.
Wells is stating that this is a Freddie requirement.
Has anyone else run into this? Is this really Freddie policy?
Karen,
I have a recent Approval in writing from Chase (Freddie Mac) with the language to not pursue after pushing back on the negotiator when the first Approval letter did not contain this language.
Call Freddie 800-373-3343 I use them all the time they are great. HAFA also has an esclation email. I don't have that off hand youcan google it.
Good Luck
How do you go to Freddie? Do you just call them?
I was driving home after I posted my question and I think I know why they did this. The seller has a 1st and a 2nd with Chase. The first lien is a Freddie Mac Investor loan. The 2nd lien is a Chase loan. If they allow this to be a HAFA short sale they have to take what is allowed as the 2nd lien holder and they can't pursue a deficiency. They are doing this to protect their 2nd lien!
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