Replies to This Discussion

Permalink Reply by Jeff Payne on September 8, 2011 at 10:26am

Escalate this with FNMA immediately.  Be sure to have everything ready to fight this and MAKE sure that there is not money somewhere that you may not know about.  Fannie Mae has a help desk with some MLS systems but you should be able to escalate with out help desk

  This would be a good one for the National News

Permalink Reply by Erica Contreras on September 9, 2011 at 6:49am

Hi Jeff,
I'm new to this..but how do you escalate to fnma when the lender won't provide a # for them other than the resource center at fnma..and they don't help either. I have a BoA 1st with FNMA as Investor and a 2nd with Real Time Resolutions-we finally got Approval on the 1st but the 2nd wants more than then 6k (they want 20k-or at least 13.7k) offered by fnma and they prefer to let it foreclose instead of taking that, and fnma (according to boa) won't pay more than that...sale date is coming up again in 3 weeks. HELP, any suggestions?!

Permalink Reply by Angela Pitre Reddy on September 8, 2011 at 10:27am

Sorry about the mispelled words. My typing gets a little crazy when I am angered, lol

Permalink Reply by Jeff Payne on September 8, 2011 at 10:33am

No worries, my wife and I share an office and she can tell when I am upset because she says I have little fingers of fury tapping away on my keyboard.

Channel that anger into a really good escalation.   It works!

Send an email to every single Fannie exec that you can find an email for AND LET THEM HAVE IT

Permalink Reply by Jim Schneider on September 8, 2011 at 10:44am

I agree, also check with your attorney, legally speaking there is more to primary residence than where do you sleep at night. The attorney may be able to show that your client meets the requirement of residency for your state.

Permalink Reply by Angela Pitre Reddy on September 8, 2011 at 11:04am

Thanks so much for the input! I have escalated with FNMA and am hoping for the best. I hope he doesn't have any money hidden away but I don't think he does- never can be sure though

Permalink Reply by Tracy Hatchell on October 3, 2011 at 1:29pm

I am having the same horribe problem. I have a good friend that I am selling his place that his wife only has in her name since she owned it before they were married. He is dying of ALS that is very progressive. They have had to move out in order to have a bigger bedroom in order to have a bed kift since he is soon to be a complete bedridden

convalescent who will no longer be able to breathe on his own before dying and Nationstar says they do not qualify foe HAFA since they did not move more than 100 miles away when the new rules that were implemented on June 1 state they can no longer ask for other family member's income verification when they are not on the loan nor deed and they more than qualify with a serious illness. They said they do not care. They are not going by the new rules that Fannie Mae implemented as a result of US department of Treasury directive that was sent out in May that also went into affect on June 1. They also tried to force the buyer to get approved with them but I told them they could not force them at all and that was against the rules for them to do that and they stated that I could just give them the conditional approval from the underwriter and that would work BUT they still state my client cannot do HAFA. She is not working since she has had to quit her job in order to stay home to take care of her dying husband. I cannot believe they really get away with all of this!!!! I have threatened to call Fannie Mae many times and tehy cannot care less.

  

Permalink Reply by Angela Pitre Reddy on November 9, 2011 at 4:34am

Nationstar is horrible. They sent another approval this time with $2100 cash contribution. We agreed to $1800 (buyer paying on  behalf of seller). This approval does not waive the deficiency and the seller will not close with this. I can't believe Nationstar gets away with this crap. My negotiator "Dawnisha" won't return emails or voice mails and neither will her supervisor "Larry"

By the way, I escalated with FNMA and they did nothing... I have advised seller that maybe he should move back into his home or rent it out. Lis Pendens was dropped sometime ago and and has not been refiled.