Did FHA Short Sales Change?

I just had a seller submit all her documentation to apply for a short sale through Chase and they are saying that they need the listing agreement, history, mls printout etc.  I haven't listed the home yet as this is an FHA short sale.  The loan department told my client that it doesn't matter what type of short sale, that they need the listing and the offer before they can approve unless it's HAFA?

 

I can't talk to them until Thursday (when their system updates and the letter of authorization is accepted), but before I do, I just want to make sure that the FHA pre-forclosure (short sale) process hasn't changed from what I have been taught. 

 

Thank you.

Views: 173

Replies to This Discussion

Permalink Reply by Kevin - Greenville, SC on May 23, 2012 at 2:35pm

No they haven't changed.  An offer is not required prior to the issuance of an ATP as it would defeat the whole purpose of having one if that was a requirement.

Permalink Reply by Suzanne White on July 5, 2012 at 5:25am

I am having exact same problem with Chase and cannot seem to speak to anyone at Chase who understands FHA short sales.  I have been working for a month trying to get a homeowner reviewed for  PFS.  If anyone has contacts at Chase for FHA short sales please share as I am not making any progress.

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