As part of the Federal Housing Administration (FHA) document requirements agents are required to provide a signed "FHA  Preforeclosure Sale Addendum & Real Estate Licensee Certification Form". This document is required by all lenders however, you can…

To improve the customer experience, Bank of America has enhanced it's home retention application and document collection process in an effort to help customers explore all opportunities to resolve their mortgage delinquency. Changes to their home retention evaluation process have been implemented to support that commitment.

What has changed?

Application & document collection process:

A…

Fannie Mae and Freddie Mac announced changes to their Servicing Guides aimed at helping more borrowers avoid foreclosure through short sales and deeds-in-lieu of foreclosure (DILs).

Some of the changes are to align with…

Bank of America's team of short sale specialists are dedicated to assisting you and your client through the short sale process. Occasionally, an issue arises that demands immediate attention or an escalation. The best way to resolve escalated issues is to follow the steps…

Effective October 1, 2013 U.S. Department of Housing and Urban Development (HUD) has announced the following changes to their Federal Housing Administration (FHA) Short Sale requirements:

• Eligibility Requirements: To successfully complete a short sale under the FHA short sale program, the borrowers must meet the following requirements:
  • They cannot list the…

Fannie Mae recently introduced a new tool to help short sale real estate specialists successfully close short sales. Short Sale listing agents are now asked to register accepted short sale offers (accepted between the buyer and homeowner) with Fannie Mae to provide greater transparency into the process and allow Fannie Mae to…

Bank  of America has entered into an $11.6 billion settlement to end Fannie Mae's  claims that the bank improperly sold it mortgages that later soured, and to  resolve problems with foreclosures,  the companies said.

The settlement is a major step for Bank of…

As part of the fiscal cliff deal, Congress extended the cancellation of mortgage debt relief provision, also known as the Mortgage Debt Relief Act for one…

The National Association of Realtors and the U.S. Department of the Treasury are collaborating to help Realtors better assist distressed homeowners who are struggling to Selling Your Home Through a Short Sale - Avoid Foreclosure.

Realtors who attend upcoming Making Home Affordable "Help for Homeowners" outreach events, sponsored by the Treasury Department, will learn insights to help them…

Bank of America is making a process change that will reduce the processing time and improve customer service for HAFA Short Sales (Home Affordable Foreclosure Alternative Program) that are submitted with an…