Replies to This Discussion

Permalink Reply by Sean Wilder on April 8, 2010 at 4:42am

FHA and VA already have their own programs. Fannie and Freddie will be implimenting HAFA their own way and have not done so yet

Permalink Reply by Jeff Payne on April 8, 2010 at 4:44am

Sean, we can only hope :)

Permalink Reply by Steele V. Propp on April 8, 2010 at 5:14am

This was in the notices from the beginning. Interestingly enough Fannie Mae is administrating HAFA. Word on the street is that these groups will be coming out with programs of their own in the near future that will be very similiar to HAFA.

And remember that FHA already had a preapproved short sale package. HAFA actually mirrors part of this program. The thing with HUD is that we don't hear alot about their shortsale program. Because they had tighter standards during the bubble build up, they didn't have the same kind of load. Now that is starting to change as factors like unemployment are causing the foreclosures as opposed to subprime and ARMs.

I think we will be seeing some new programs coming out from the GSEs in the coming months. Some are saying even by end of April or May. They seem to be watching HAFA closely.

Steele

Permalink Reply by Steven Jackson on April 8, 2010 at 5:33am

Jeff,

Were you in the training for BofA loss mit employees?

If so, can you share some insights?

Thanks

Permalink Reply by Jeff Payne on April 8, 2010 at 9:09am

No but a friend did a recorded interview with a BofA short sale negotiator, email me and I will send it over to you, the BofA employees were given training on saturdays on their day off........ [email protected]
Jeff

Steven Jackson said:

Jeff,

Were you in the training for BofA loss mit employees?

If so, can you share some insights?

Thanks

Permalink Reply by Greg Bloss on April 16, 2010 at 12:28pm

Is there a web page to find out what banks have agreed to be a participant in HAFA?

Permalink Reply by Jason Opland on April 18, 2010 at 2:15pm

HAFA is part of the HAMP Program and thus all banks that committed to participate in HAMP are also to participate in HAFA. I've included a complete list of lender participating in HAMP, HAFA at http://columbusrealestatenews.featuredblog.com/?p=648

Jason Opland
Obvious Choice Realty || The Opland Group
614.408.8078 o
[email protected]