Minna Reid
  • Female
  • Woodbridge, CT
  • United States
  • CT
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Minna Reid's Discussions

BOA pushing HAFA down clients throat

Started Jan 9, 2012 0 Replies

Is it just me or is BofA absolutely ridiculuous in pushing HAFA. They make the customer call in and give them the "HAFA is the BEST program" sales pitch which apparently everyone gets ( whether they…Continue

Bank of America Decline for "High negative mitigation"

Started this discussion. Last reply by Minna Reid Nov 29, 2010. 4 Replies

Please help me understand this decline - as its a new one and makes no sense.I started a short sale several weeks back with First Franklin. Halfway through the short sale the loan gets sold to Bank…Continue

Tags: high, negative, mitigation, sale, short


Minna Reid's Page

Latest Activity

Minna Reid commented on Jim Schneider's group Freddie Mac
"Need some help with a Provident Freddie deal. Ready to approve but the servicer insists Freddie will allow 3% seller concessions to a buyer with an FHA loan only. I know this is nonsense as I have always gotten 3% to any financed buyer, but they…"
Feb 17, 2015
Minna Reid joined Jim Schneider's group

Freddie Mac

Information on Freddie Mac, one of the largest mortgage investors in the world.See More
Feb 17, 2015
Minna Reid replied to Neil L.'s discussion New 15 Day FHA requirement, HOW? in the group Bank of America Short Sales
"Ok guys - here is the actual FHA update - http://portal.hud.gov/hudportal/documents/huddoc?id=14-15ml.pdf Look at page 8. Maybe I am missing something, but I see they now require a 15 day marketing time, but I see nothing about it being tied to the…"
Oct 29, 2014
Minna Reid replied to Andy Luiz's discussion Short sale question
"Ron - you are exhausting. Perhaps the consumer should look at the source of their information. YOU are a servicer...how many short sales have you closed? How many homeowners have you helped to get out of their mortgage debt and move on with their…"
Sep 17, 2013
Minna Reid replied to Andy Luiz's discussion Short sale question
"Financial sheets are not standard...they vary by investor/servicer....and I will 100% disagree with Ron here - You absolutely want 3rd party representation - seek the best you can find. DO NOT look to your servicer for guidance. Your servicer…"
Sep 17, 2013
Minna Reid replied to Andy Luiz's discussion Short sale question
"Since I don't represent you and I do not know the details of which sheet you are completing I can't advise you specifically on that. Your real estate agent or lawyer can help you with your specific documents. My answer is general in…"
Sep 17, 2013
Minna Reid replied to Andy Luiz's discussion Short sale question
"Thanks Ron! Someone has to give the little guy a fighting chance against "bank logic"."
Sep 17, 2013
Minna Reid replied to Andy Luiz's discussion Short sale question
"Ron - Its Minna, not Mindi...and if you actually read my response - you would see I also recommended he turn in all the documents.... However he is the borrower...not his wife. If his wife went for a new mortgage in her name alone, do you think they…"
Sep 17, 2013
Minna Reid replied to Andy Luiz's discussion Short sale question
"I wouldn't go hiding any bank statements now - that is fraud. Yes they will see that she has income - that doesn't matter.She's not responsible for your loan. You don't have to hide her income - it simply shouldn't be a…"
Sep 17, 2013
Minna Reid replied to Courtney's discussion FRUSTRATED - FANNIE MAE + servicer issues
"Just once lately  I'd like to hear about Fannie Mae making a sensible decision. Fannie Mae is a joke lately. This routine of multiple BPO's and ridiculous valuations is routine. I can only imagine how low their short sale approval…"
Sep 17, 2013
Minna Reid replied to Andy Luiz's discussion Short sale question
"I have never once included a non borrowing spouse's income and have never once been asked to. If the spouse isn't on the loan, their income should be irrelevant.  I would submit the package with only your income documentation."
Sep 17, 2013
Minna Reid replied to Wendy Rulnick's discussion Favorite Short Sale Lender
"Mine was GMAC....until they were no more :("
Sep 17, 2013
Minna Reid replied to Raymond Kennedy's discussion Updates on Fannie Mae & Freddie Mac Inflated Value Issues
"Is anyone having any forward movement on these issues? My Fannie Mae issues are only getting worse as the year goes on. Now EVERY Fannie valuation is overpriced, and disputes don't seem to have much affect. If they revise their values at all,…"
Sep 16, 2013
Minna Reid replied to Larry A. Strauss's discussion Jr. lienholder claims not subject to Fannie/Freddie guidelines because the lender spun debt off to an LLC
"As I understand only the big banks (in the settlement) agreed to a standard $6,000 jr lien payoff when Fannie/Freddie holds the first. You don't state who the lender was before the loan was transferred to this LLC...but if it wasn't one of…"
Sep 9, 2013
Minna Reid replied to Drew Ludlow's discussion Just submit any offer or wait for the RIGHT offer?
"The lender is not a principal in short sale and has no responsibility to the sellers best interest. You represent your sellers best interest which is not sending every lowball offer to the lender to see if the buyer can get a great deal while you…"
Aug 21, 2013
Minna Reid replied to Sharon Vest's discussion HAFA and the occupancy requirement
"Why did she even move out? Unless she wants to move back in and establish occupancy ( time consuming) forget about the $3k and just close. Look at the big picture here. She's getting her morgage debt forgiven. Fighting over the $3k while…"
Aug 12, 2013

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