Jim Schneider
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Jim Schneider's Discussions

Loan Modification Review = three weeks lost time

Started this discussion. Last reply by Ron Scribner Sep 12, 2013. 9 Replies

I've been seeing more servicers force a loan modification review on my short sale clients. I mean clients that have no interest in retaining the home, haven't asked for a mod. This wouldn't bother me…Continue

A Flood of BPOs

Started this discussion. Last reply by Greg Zajdel Aug 17, 2012. 1 Reply

This last week my e-mail has been flooded with BPO requests, I mean THOUSANDS of bpo orders. Mind you these are not requests to me in particular but e-mail blasts for assignments accepted on a first…Continue

Fannie Mae requires shorter short sale Timelines

Started this discussion. Last reply by Jim Schneider Apr 28, 2012. 2 Replies

April 25, 2012Fannie Mae Sets New Short Sale TimelinesNew Guidelines Will Expedite Process, Improve Foreclosure Prevention OptionsAndrew Wilson202-752-5168WASHINGTON, DC – Fannie Mae (FNMA/OTC)…Continue

Can I notarize client affidavits?

Started this discussion. Last reply by Jeffrey Sampson May 4, 2012. 12 Replies

With more and more notarized documents needed, I'm wondering, will banks balk if I get a notary license and notarize the signatures (while being the listing agent on the same file?). It would save a…Continue

 

Jim Schneider's Page

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Deutsche Bank

Information Regarding Short Sales with Deutsche BankSee More
Jun 21
Dean E Eshelman, CPA, CDPE, IRES commented on Jim Schneider's group Freddie Mac
"@Corinn I would like to know too. BPO 360 reduced price now down to 299 and fixing to reduce another 10k."
Jun 16
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Myrtis Brown joined Jim Schneider's group
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Freddie Mac

Information on Freddie Mac, one of the largest mortgage investors in the world.See More
Feb 23
Myrtis Brown joined Jim Schneider's group
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Lori Stewart joined Jim Schneider's group
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Deutsche Bank

Information Regarding Short Sales with Deutsche BankSee More
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Rebeka Shadpour joined Jim Schneider's group
Dec 1, 2016
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Freddie Mac

Information on Freddie Mac, one of the largest mortgage investors in the world.See More
Nov 26, 2016
Steve prashad joined Jim Schneider's group
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BPO

Upset that the bpo was too high? Think the bank or MI is asking for too much? No idea how to price your short sale? Find out here.See More
Oct 5, 2016
Pattilynn Guilford joined Jim Schneider's group
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Freddie Mac

Information on Freddie Mac, one of the largest mortgage investors in the world.See More
Aug 4, 2016
Elvira Quiray joined Jim Schneider's group
Jul 27, 2016
Lori Young commented on Jim Schneider's group Freddie Mac
"Anyone who knows policy is it common for Freddie Mac to offer 2.5% cobroke on a foreclosure?"
Jul 12, 2016
Thomas Guarino joined Jim Schneider's group
Jun 17, 2016

Profile Information

First Name
Jim
Last Name
Schneider
Are you a...
Agent
State
Illinois
City
Bloomingdale-Chicago Suburbs
My Profile
sold my first short sale in 2006, since then have sold many more. I am currently working with an attorney that specializes in short sales, but I actively work the negotiating side too.

Jim Schneider's Blog

Wells Fargo short sale approved in 60 days!

Posted on May 24, 2012 at 12:17pm 2 Comments

Feeling good on this one, sixty days from contract to short sale approval. Investor was Freddie Mac.

How to Find the MI Company

Posted on April 24, 2012 at 8:42am 0 Comments

If I see there was less than 20% down at purchase (without a piggyback) or if I see the servicer changing since the loan was issued, I assume there is MI either paid for by the seller or added by the new lender when they bought the loan.

 

1st, I call the servicer and ask, REPEATEDLY, because you have to find the rep that hasn't got them memo not to give out this critical information. Get the MI company and the mortgage certificate number (it's like the account number for…

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Comment Wall (4 comments)

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At 10:16am on July 26, 2012, Guy Lofts CRS said…

call me if you have specific questions.  You speak to one person.  One of the most efficient banks to deal with.   I do a happy dance when i have one!!  but did not want to waive deficiencies.

At 2:11pm on October 28, 2011, Azim Jessa said…

Hi Jim,

 

SLS did ask my sellers to pay for the BPO.  They tacked on $115 to the next statement and said if the SS is approved, that cost would be built in to the payoff amount.  If the SS was denied, the seller would then be responsible for the charge.  

 

Hope this helps,

Azim

 

At 4:26pm on January 6, 2011, Zach Shepard said…
Great! Thanks for the invite Jim! I love this market. If agents don't like doing short sales, I have no problem w/ that. Just send em my way. ;)
At 12:06pm on November 7, 2010, Gwen Mark said…
Sure Jim, would love to help. Let me know what you need.
 
 
 

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