Gregory Holmes
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Gregory Holmes's Discussions

FNMA irrational offers

Started this discussion. Last reply by Yalda Alawi Oct 29, 2012. 4 Replies

Ok, so we are all having the same experience on FNMA short sales - they want more than the property is worth.  Heck I had one where they got so lost in deciding how much they would accept relative to…Continue

Will Greentree ignore their expired BPO???

Started this discussion. Last reply by Gustavo Sep 5, 2012. 3 Replies

Does anyone know if Greentree will ignore their original BPO (which was at a ludicrous value) after it expires and they obtain a new one?   It is a FHLMC loan and this poor guy really needs a break…Continue

 

Gregory Holmes's Page

Latest Activity

Linda Cadotte replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"I totally agree!"
May 18, 2013
Josh Leventhal replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"I have encountered similar issues with FNMA in Maryland. Had a buyer with an FHA appraisal $40k under where Fannie valued the property. Got absolutely no movement after a dispute. No explanation for why the appraisal can not be honored. Seems like…"
May 15, 2013
Victoria Frieberg replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"when in doubt, look on twitter.  I actually got a response from the call center within a couple hours..not that they did anything..they did say they would contact the short sale valuation team and ask them to expedite the file, but they have no…"
May 7, 2013
Wendy Smith replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"tweeted?   "
May 7, 2013
Victoria Frieberg replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"first fannie has an appraisal done, upon my listing of the home.  offer rejected..ridiculous counter.  valuation dispute rejected..same counter.  buyer walks.  new offer, nationstar rejects, valuation dispute entered with buyers…"
May 7, 2013
Ro Reed replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"Barbara, I have a non-FNMA with NationStar and have had the same problem, so I wonder in your case if it's FNMA or NS.  I had an accepted offer via Equator in Jan 2012 for $203,000 but we couldn't get the second to agree to the…"
May 3, 2013
joe beauchamp replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"To answer your rhetorical question, yes, FNMA ignores appraisals - on their own properties. They are happy to foreclose and put the property on their website with their now typical 20% inflated price and offer buyers a **special** deal. Buyers do…"
May 1, 2013
Barbara Thomas replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"House on market since January.  Started at $249,000 with no interest.  Reduced to $239,000 and finally got an offer at $230,000.  Fannie Mae countered at $260,000.  Buyers ordered an appraisal, which came in last Friday at…"
May 1, 2013
Anna Chroscicki replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"Just last week I attended CDPE web interview with Fannie Mae Representative. Point blank he said that Fannie Mae will not accept anything else but "Fair Market Value". He said that they order BPO but also they handle their own evaluation…"
Apr 18, 2013
Wendy Smith replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"Kudos to you Rachel."
Mar 6, 2013
Wendy Smith replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"that's a great video - we need a reporter here in the Tampa Bay area... or we Realtors need to band together...something.  I have another failed short sale - FNMA value $30k over FMV .  what are we going to do???"
Mar 6, 2013
Aida Rodriguez replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"Just caught Citi Mortgage red handed on this.  Previously approved short sale in Phoenix for $72K. We were going for re-approval on the file.  Citi performed an updated appraisal on the property and I received a counter from the negotiator…"
Mar 5, 2013
Wendy Smith replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"hi Anna - it's been a couple of months since your blog post -- any updates?   By any chance do you have any script of wording that works best when homeowners complain to the state attorney general - if you are willing to share, please…"
Feb 15, 2013
Janet W Slimak replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"Looks like we've all discovered the same thing. I'm working on the 4th contract on a home with NYCB and it seems nothing we do is working. They just came back with a higher acceptable contract price than they had accepted several months…"
Jan 23, 2013
Patsy Clevenger replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"Ok I have to jump in.  Have a B of A Co-Op Short Sale where Fannie Mae is the investor.  Closed sales in this development that are exact model matches have closed at $315K.  B of A does a BPO and appraisal ( both on the same…"
Jan 22, 2013
Donna McClelland replied to Gregory Holmes's discussion FNMA Irrational Values in the group Fannie Mae
"Not only are the BPOS done by agents who do not know what they are doing, I have found that the agents aren't even entering the properties to do the BPO.  With electronic lockboxes, we can track who is accessing the property. On two of my…"
Jan 21, 2013

Profile Information

First Name
Greg
Last Name
Holmes
Are you a...
Agent
State
Virginia
City
Vienna

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