Tony Morales
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Tony Morales's Discussions

Wells Fargo HAFA Approval

Started this discussion. Last reply by Fiel Barrow Aug 5, 2016. 1 Reply

Am I dreaming...  sent full package To WF for 1st mortgage and 2nd WF Home Equity loan on July 25, 2016  The assigned negotiator/processor said he would handle both loans.  I received approval…Continue

HAFA Incentive to tenant

Started this discussion. Last reply by Kevin - Greenville, SC Apr 21, 2015. 6 Replies

Can a Section 8 tenant receive the $10,000  relocation incentive?Continue

Nationstar Auction Process

Started this discussion. Last reply by Tony Morales Dec 11, 2014. 4 Replies

As many of you may know, Nationstar now runs their short sales through Homesearch.com instead of Auction.com. And in case you were not aware, Homesearch is owned by the same investors that own…Continue

Bank Of America Vendor Seneca

Started Aug 12, 2014 0 Replies

Formally AMS Servicing.  This company has to be the worst vendor B of A has ever used. It appears their employees are low wage and very untrained. They do not answer their phones and calls are not…Continue

 

Tony Morales's Page

Latest Activity

Tony Morales commented on Mayra Espinosa CDPE, HAFA, SFR's group SPS Select Portfolio Servicing, inc
"Actually, Catalina, they are not in violation of CFPB guidelines which state that a servicer/lender does not have to review for a short sale if the sale date is within 37 days. There are new CFPB guidelines as of Oct 4, 2017. Short sales will become…"
Nov 8
Minna Reid replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"Cool thanks....I can see how that could be "open to interpretation"...sigh..."
Oct 31
Tony Morales replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"there are 901 pages of the new guidelines   here are 2 pages that I feel are applicable"
Oct 31
Minna Reid replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"Could anyone share a link to these new CFPB guidelines?"
Oct 31
Angie Fraguas replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"Below was her response. The short sale approval letter expired 10-27 and she sent this 10-25. :  Angie Fraguas, Jennifer Fabi I regret to inform you that Short sale is no longer an option. Borrower/Seller can apply for DIL, see below LMA…"
Oct 30
Tony Morales replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"CFPB rule 1024.41 (c)  it does not specifically state that servicer must require a borrower to apply for modification prior to doing a short sale. It does state that servicer may offer all loss mitigations options. here is reply from B of A…"
Oct 26
Smitty replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"Tony, do you have a copy of the new CFPB guidelines? I would love to read that, as BOA just told us the same thing but when we pressed to get a copy of the new rules we were told NO.  A lender offering a DIL IS unfortunately an alternative to…"
Oct 26
Tony Morales replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"that's ridiculous   They cannot due a DIL if there are junior liens/mortgages.  And according to what I am reading, the new CFPB guidelines require lenders to offer ALL options to avoid foreclosure.  Can you get that in…"
Oct 25
Angie Fraguas replied to Tony Morales's discussion New CFPB Guidelines for Short Sales in the group Chase
"I was doing a short sale with Caliber Home loans and they told me no more short sales only DIL."
Oct 25
Angie Fraguas liked Tony Morales's discussion New CFPB Guidelines for Short Sales
Oct 25
Tony Morales added a discussion to the group Chase
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New CFPB Guidelines for Short Sales

Here we go again.  .. Lenders are giving different interpretation of new CFPB guidelines effective Oct 2017.  Bank of America is stating that borrower/seller MUST apply for Home Retention ( modification) before they can be considered for short sale and they cannot opt out no matter who the investor is.  SPS is stating the opposite. That seller can opt out and choose just to do a short sale.  OCWEN has not given a clear answer yet.  Has anyone else come across this issue?Tony MoralesTM Short…See More
Oct 25

Profile Information

First Name
Tony
Last Name
Morales
Are you a...
3rd Party Negotiator
State
Calif
City
Rancho Cucamonga
My Profile
former loss mitigation employee worked in short sale dept at major lender for over 5 years. Also licensed real estate agent

Tony Morales's Blog

Franklin Still Killing Short Sales

Posted on October 22, 2015 at 8:11am 0 Comments

I was hired by the listing agent to save this short sale  Franklin played their silly games. We offered $12,000.00   They countered back at $20,000.00  Buyer walked. Month and a half later obtained new buyer, whose offer was approved by  and the first lien holder, and allowing $20,000.00 to Franklin. They came back and countered at$28,000.00 claim they have new guideline. That is a crock.  This one will end up in foreclosure. Other than preaching to the choir, who can we reach out to stop…

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Fannie Mae Countering above their own values

Posted on November 1, 2013 at 1:00pm 0 Comments

If you are in a real estate market that is going strong and values are increasing then this applies to you. My reliable sources have informed me that Fannie Mae will counter your offer above what their BPO or appraisal came in at.

As of November 1, 2013 they are instructing servicers to submit  all offers to them where the net proceeds are less than what they have required They are stating that they want the sales price to be inline with how their REO's are handled.

They are…

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Fight Back Against Nationstar

Posted on February 23, 2013 at 8:20am 6 Comments

Nationstar has taken the position that they will dictate to agents and if you don't like it they will just close your file. Agents need to join together and not accept the silliness of Nationstar.  DO NOT ACCEPT 5% commission!  DO NOT ACCEPT that they will not pay title insurance or any other state regulated fees. Recently they closed my file because I questioned why they required a separate letter on a LLC buyer's letter head  their instruction said .....: Must…

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At 12:19pm on July 1, 2016, Donna Perry said…
Tony: I need to talk to you ASAP. Have a short sale that I just got my second offer on and now they want to go to auction....again. Please send me your number....so frustrated Donna Perry
508-287-4186
Massachusetts real estate agent
 
 
 

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