Suzanne White
  • Female
  • Memphis, TN
  • United States
  • TN
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Suzanne White's Discussions

Short Sale Approval Language and Fannie Mae

Started Oct 24, 2011 0 Replies

This is the language of our approval letter: "Upon settlement of the short sale proceeds, the mortgage loan will be reported to the appropriate credit reporting agencies as "Settled in Full for…Continue

 

Suzanne White's Page

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Suzanne White joined Bryant Tutas's group
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SunTrust Mortgage

This group is for information, tips and solutions for Suntrust Mortgage short sales.See More
Apr 18, 2013
Suzanne White replied to Jason Sanseverino's discussion VA Compromise Sale and 2nd/ Home Equity
"I am having a similar issue.  The homeowner has a first with Carrington who actually wants to do a DIL, pay the homeowner 2K, pay Sovereign $3500 (which is almost 15% of the balance) and still pay me a commission and Sovereign…"
Jan 31, 2013
Rachael Babinchak replied to Suzanne White's discussion FHA Short Sale with GMAC - Any escalation contacts in the group GMAC
"You're probably better off appealing to FHA and let them know the violation.  You need FHA case number from GMAC, submit borrower auth, give it a day, and call back for a level 2 rep. For GMAC contacts, private message me:…"
Jan 8, 2013
Celeste ODea replied to Suzanne White's discussion FHA Short Sale with GMAC - Any escalation contacts in the group GMAC
"Yes, I would try that option first. If it doesn't work, you cam always call HUD."
Jan 8, 2013
Celeste ODea replied to Suzanne White's discussion FHA Short Sale with GMAC - Any escalation contacts in the group GMAC
"@Suzanne - To be on the safe side, you should contact HUD right away.  Remember, you need 3rd Party Authorization from your seller to talk to HUD on their behalf.  It will take HUD 24 hrs to image it.  Explain your situation and they…"
Jan 8, 2013
John Edelman replied to Suzanne White's discussion FHA Short Sale with GMAC - Any escalation contacts in the group GMAC
"It is standard procedure for the servicer to counter back at the full appraised price - but they will accept the required net per the tier you are in as regards the the PFS program.   My recommendation is to just respond back that the offer…"
Jan 8, 2013
Suzanne White added a discussion to the group GMAC
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FHA Short Sale with GMAC - Any escalation contacts

Anyone have management/escalation contacts with GMAC for someone who knows the FHA short sale process?  Homeowner has an ATP, contract submitted at day 70 which nets 87% of FMV. Not only did the negotiator take more than 5 days to respond, the 90051 was returned with a rejected, and then a counter to full market value. When I questioned this, the response was that all offers have to be countered at FMV. That is a direct violation of acceptable terms as listed on Mortgagee Letter 2008-43.  This…See More
Jan 8, 2013
Suzanne White joined Wendy Rulnick's group
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GMAC

This group is for information, tips and solutions for GMAC short sales.See More
Jan 8, 2013
Arlene Garcia Hanner replied to Suzanne White's discussion Buyer has provided loan approval letter - BOA negotiator wants buyer bank statement in the group Bank of America Short Sales
"I had this happen several times with BofA, including on a COOP short sale.  When I vet potential buyers/buyers agents for a short sale listing, I let them know there is a chance that not only will proof of funds be requested and…"
Dec 10, 2012
Chad Gelsinger replied to Suzanne White's discussion Buyer has provided loan approval letter - BOA negotiator wants buyer bank statement in the group Bank of America Short Sales
"I understand completely."
Dec 10, 2012
Suzanne White replied to Suzanne White's discussion Buyer has provided loan approval letter - BOA negotiator wants buyer bank statement in the group Bank of America Short Sales
"Thanks for the response.  Unfortunately all this will do is run off more buyers from short sales.  I understand providing proof of funds if cash purchase, that is a given.  But providing personal information to their own mortgage…"
Dec 10, 2012
Chad Gelsinger replied to Suzanne White's discussion Buyer has provided loan approval letter - BOA negotiator wants buyer bank statement in the group Bank of America Short Sales
"Suzanne, I have been seeing this happening more often. Bank Of America is not the only Short Sale lender requiring to see proof of funds. If the buyer wants this home, they will have to provide a statement showing they have the funds available. You…"
Dec 10, 2012
Suzanne White added a discussion to the group Bank of America Short Sales
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Buyer has provided loan approval letter - BOA negotiator wants buyer bank statement

Currently working a short sale with BOA. Negotiator wanted loan approval letter which has been provided. Now negotiator wants buyers; bank statements to show down payment money.  This has already been covered by the buyers mortage officer and the buyer is not willing to provide copies of bank statements to me and/or bank of america.  The buyer's down payment is 5% of purchase price which is covered in the loan approval letter.  I have been doing short sales successfully for a couple of years…See More
Dec 10, 2012
Suzanne White replied to Rosalinda Hernandez's discussion Nationstar Mortgage
"I had the same scenario with Nationstar and Bank of New York.   Contacted Bank of New York, contacted Pres of Nationstar, escalated as much as I could.  Ultimately I was told to agree to the terms including maximum 5% commission or short…"
Oct 7, 2012
Suzanne White replied to Angela's discussion Wells Fargo FHA - Listing Agreement before Appraisal? in the group FHA - HUD Short Sales
"When a homeowner has a FHA mortgage, I do not list the property until the 90045 is issued and this is the reason why - if there are any liens on the property other than a second mortgage, the Approval to Participate will not be issued.…"
Aug 21, 2012
Suzanne White replied to Donna Clayton, Broker, MBA's discussion BofA Co-op -- Allowable Fees to Attorney
"I have had 2 this week and was told it is a Bank of America guideline.  We are not necessarily an attorney state but there is no escrow company in our area that will close a file, including performing a title search, for less than…"
Jul 18, 2012

Profile Information

First Name
Suzanne
Last Name
White
Are you a...
Agent
State
TN
City
Memphis
My Profile
Short Sale Specialist working in Memphis area.

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At 5:56pm on March 6, 2012, Aneetra Isis Sherrell said…
Please inbox me your number. I have a client in Memphis that needs to short sale yesterday. I'm only licensed in GA.

Thanks,
A.
 
 
 

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