Pat M
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Latest Activity

Pat M replied to Neil L.'s discussion New 15 Day FHA requirement, HOW? in the group Bank of America Short Sales
"I wonder if its listed as active contingent would that count for the 15 days?   Since with the status as active contingent back up offers can still be submitted.   "
Jun 18, 2015
ElizabethWeintraub00697006LyonRE replied to Pat M's discussion SS denied for Failed internal quality review in the group Bank of America Short Sales
"I have had this happen ONCE and when I pressed, they said the reason was the seller, in their mind, did not have a hardship. Although the house was gutted due to mold, and unpaid liens were filed for mold remediation and the home was not really…"
Apr 1, 2015
Brett Goldsmith replied to Pat M's discussion SS denied for Failed internal quality review in the group Bank of America Short Sales
"Yes, this can happen for many reasons. They apparently feel they are catching wind of something they are not okay with. I'd be escalating the file to see why it m,ay be failing audit and if anything can be done to correct…"
Apr 1, 2015
Pat M added a discussion to the group Bank of America Short Sales
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SS denied for Failed internal quality review

We have been working on short sale (FHA) for a while now and back in September the lender declined the short sale and removed it from equator for reason: failed internal quality review.   BOA had everything they needed, offer was high enough and all fha rules were followed and filed was submitted for final appoval.  That buyer walked and we had a new buyer and the SAME THING happened yesterday.  It was declined for failed internal quality review and immediately removed from Equator. Has this…See More
Apr 1, 2015
Pat M joined Mori Langshaw Sr's group
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Reverse Mortgage Short Sales

If you have a client that has done a reverse mortgage and now needs to short sale, this is the groupSee More
Dec 11, 2014
Pat M commented on Stephanie Lim's group FHA - HUD Short Sales
"Does anyone know what the current fha seasoning requirements are on a double close?  I know back in 2010 they did away with the requirement for one year but I cant find any info for 2014 to know if it was extended."
Aug 13, 2014
TOP END Properties replied to Pat M's discussion Has anyone had any luck getting Ocwen to allow for a repair allowance on a Hafa Short Sale? in the group OCWEN
"If anything, the repair credit will have to be paid directly to the contractor, and not the buyer.  Also it will have to be a major issue and/or lender required repair."
Mar 14, 2014
joe beauchamp replied to Pat M's discussion Does anyone know if its quicker to get a variance or just lower the offer amount? in the group FHA - HUD Short Sales
"Lower the offer. Rules are clear for FHA and if net is met, you are on your way. Variances usually start at taking weeks and unless you have a real good reason for them to give you extra money, you aren't going to get it."
Jan 29, 2014
Pat M replied to Pat M's discussion Does anyone know if its quicker to get a variance or just lower the offer amount? in the group FHA - HUD Short Sales
"I understand that the bank paid so they are entitled to them etc etc..    My client is an investor and he has the opportunity to put about $2,200 more in his pocket.       So I was just wondering if anyone knows if…"
Jan 29, 2014
Kathleen Sheridan replied to Pat M's discussion Does anyone know if its quicker to get a variance or just lower the offer amount? in the group FHA - HUD Short Sales
"The taxes came off the HUD, because the lender paid them. The lender is due the amount that they paid in tax, not the buyer."
Jan 29, 2014
David A. Roebuck replied to Pat M's discussion Does anyone know if its quicker to get a variance or just lower the offer amount? in the group FHA - HUD Short Sales
"Pat,  the fact that the bank has paid the taxes off the HUD shouldn't matter to your buyer client -- the bank still paid the taxes.  And since the bottom line to the bank is now higher there should be a quicker and easier approval…"
Jan 29, 2014
Pat M added a discussion to the group FHA - HUD Short Sales
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Does anyone know if its quicker to get a variance or just lower the offer amount?

The buyer has been trying to but the property for a while now.    Before December the taxes werent paid so the full amount of the taxes came out of the lender net. The lender paid the taxes so the taxes came off the HUD.....which brings the lender net up.He wants to put that money back in his pocket and have the lenders minimum net around the 84% required. So- he could either lower his offer amount or add in some buyers closing costs which would require a variance.So my question is: which is…See More
Jan 29, 2014
Pat M replied to Jim McCormack's discussion Anyone successful in getting Ocwen to waive the Altisource / Hubzu Online Auction/Marketing System in the group OCWEN
"HI Tyra- had already started with a Hafa Short sale and actually disputed the value and the dispute worked.  Then all of the sudden they wanted it to be put in Hubzu.   So we sent in a letter signed by the borrower stating they didnt…"
Jan 22, 2014
Michael Hayley replied to Pat M's discussion Has anyone had any luck getting Ocwen to allow for a repair allowance on a Hafa Short Sale? in the group OCWEN
"I've never even tried; it seems impossible. Im interested in other agent responses. "
Jan 20, 2014
Pat M added a discussion to the group OCWEN
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Has anyone had any luck getting Ocwen to allow for a repair allowance on a Hafa Short Sale?

Has anyone had any luck getting Ocwen to allow for a repair allowance on a Hafa Short Sale?    Or any short sales for that matter?See More
Jan 20, 2014
Robin Dahlstrom liked Pat M's discussion Does anyone know if PNC will do a short sale if seller is current?
Jan 15, 2014

Profile Information

First Name
Pat
Last Name
Martinez
Are you a...
Investor
State
TX
City
Dallas

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