Wendy Haisley
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Wendy Haisley posted a blog post

HAFA short sale relocation assistance raised to $10,000 !!

Effective February 1, 2015, if short sale is approved through HAFA, $10,000 relocation assistance funds will be paid to property occupant.  This has been increased from $3,000.  Also, new directive states senior lien can allow up to $12,000 to junior lien up from $8,500 in the past.  Treasury will reimburse first lien $2 for every $3 they provide to junior lien at short sale closing.  All the HAFA changes are available on the link below:…See More
Jan 15, 2015
Wendy Haisley replied to Team Thayer's discussion What is the max amount that Fannie Mae will pay to subordinate lien holders?
"FNMA no longer does HAFA short sales.  This would have to go traditional short sale. FNMA allows a max of $6000 to 2nd lien.  SLS will allow $0 of that to go to the credit card judgment lien.  FNMA WILL NOT allow anyone to contribute…"
Apr 15, 2013
Jennifer Keefer left a comment for Wendy Haisley
"I am trying to find some information regarding a post you had commented on previously and am hoping you can help? You had posted the following information in regards to 2nd lienholders and the amount they can receive: "It depends entirely on…"
Aug 25, 2011
Dominique Van Ryckeghem replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"Jim,   Sadly I agree with Wendy. US Bank 2nd especially would rather have US Bank 1st lose lots of money and let the property foreclose before they would agree to take money on an un-collectable debt in this case.   What is irrational to…"
Mar 8, 2011
Wendy Haisley commented on Wendy Rulnick's group Bank of America Short Sales
"If BofA is servicing the first mortgage, what they will accept for offer depends on their investor's calculation of fair market value, regardless of what the seller owes on the property.  Investor calculates fair market value by…"
Feb 21, 2011
Wendy Haisley commented on Wendy Rulnick's group Bank of America Short Sales
"The percentages I was talking about was the percentage of the UPB of the second lien.  Example:  If FNMA is investor of first mortgage and the 2nd mtg unpaid balance is $120,000, then first will allow 6% of $120k which is $7,200 or $6,000,…"
Feb 21, 2011
Wendy Haisley commented on Wendy Rulnick's group Bank of America Short Sales
"What Bank of America will allow 2nd is not their decision.  It is the investor's decision.  80% of mortgages are either FHA, FNMA, or Freddie Mac as investor.  Those mortgages are only serviced by BofA.  With FHA, max to…"
Feb 21, 2011
Daryl New replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"total agreement, I'm closing my accounts with US Bank and removing over $100K of funds and credit lines...  they suck and I'm spreading the word :) I've had 2 short sales go to foreclosure :("
Jan 19, 2011
Cindy Greenya replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"Thank you for the email addresses of the executives a US Bank. I currently have a short sale going with US Bank, they asked my client to apply for a loan modification, otherwise she would be held responsible for the deficiency balance. She declined…"
Jan 12, 2011
JulieAnn DeCeunynck replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"AMEN Wendy!  Thank you for this posting! We do need to  stand together and make a change! Unfortnately I have 3 files in with US Bank now...I will be emailing everyone now, and NOT accepting any short sales where US Bank is the lien holder."
Jan 5, 2011
Wendy Haisley replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"Jim,  I agree.  The issue of the new US Bank home mortgage boycott is simply that as a real estate professionals, you care about your clients, and there is no way I would recommend one of my buyers use US Bank Home Mortgage so in case of…"
Jan 5, 2011
Jeff Payne replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"The black hole, I like it :)  Most of the US Bank stuff in our area is VA or FHA or some govt backed loan.  They service Florida Housing loans too so they have specific guidelines to follow."
Jan 5, 2011
Wendy Haisley replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"Exactly, Jeff.  Our firm does still work with US Bank on FHA and VA loans.  Two reasons, we have negotiators within US Bank on these types of short sales who know our files are complete and accurate and are willing to have them assigned…"
Jan 5, 2011
Jeff Payne replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"I agree Jim... I have invited US Bank to meet with a group that is meeting in California next month, alot of lenders are agreeing to show up.  They need to be part of the solution and not part of the problem. The last 2 negotiators that I…"
Jan 5, 2011
Jim Hale replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"From a purely power politics point of view, a boycott makes no sense.  The listings go to agents who don't care or who don't know any better.  And USBANK gets to go to foreclosure without problems. The far more rational (and…"
Jan 5, 2011
Jeff Payne replied to Wendy Haisley's discussion TIME TO BOYCOTT US BANK NEW MTGS UNTIL THEY FIX SHORT SALE DEPT! in the group US Bank
"I have 3 in process, one got approved in about 7 weeks, it was an FHA loan, one got approved in 2 weeks, it was a VA loan AND I have a nightmare out in cyberspace right now that I can not get an answer on and we are 8 weeks into it.  Mixed…"
Jan 5, 2011

Profile Information

First Name
Wendy
Last Name
Haisley
State
MN
City
Maple Grove
My Profile
I manage the short sale team at a law firm. We work with 300+ short sales at lenders at a time.

Wendy Haisley's Blog

HAFA short sale relocation assistance raised to $10,000 !!

Posted on January 15, 2015 at 9:23am 0 Comments

Effective February 1, 2015, if short sale is approved through HAFA, $10,000 relocation assistance funds will be paid to property occupant.  This has been increased from $3,000.  Also, new directive states senior lien can allow up to $12,000 to junior lien up from $8,500 in the past.  Treasury will reimburse first lien $2 for every $3 they provide to junior lien at short sale closing.  All the HAFA changes are available on the link below:…

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At 5:07pm on August 25, 2011, Jennifer Keefer said…

I am trying to find some information regarding a post you had commented on previously and am hoping you can help?

You had posted the following information in regards to 2nd lienholders and the amount they can receive:
"It depends entirely on who the investor is.  If it is HUD (FHA short sale), max allowed is $2500 regardless of UPB.
If it is FNMA, max allowed is 6% of UPB (was 8% until FNMA guidelines changed last fall)
If it is Freddie Mac, max is 10% of UPB or $3,000, whichever is lower
With HAFA, max is 6% or $6,000, whichever is lower."
Your comment is leading me to where I need to be, I just need help getting there :)
 
 
Where can I find official documentation regarding the FNMAE max 6% issue? The second in my transaction will consider 6% IF they have that information. I was told this by the 1st, but they won't put it in writing. I have searched high and low thorugh FNMAE information to find this statement, but I can't find anything that isn't related to HAFA. Client was denied HAFA, so this is a standard "in-house" short sale.
 
 
 

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