As a rule of thumb they ask for 10 % of UPB, or and upto 20% if you have show them the Senior approval already. Now you could start with 2% of the UPB and stop them at 10% the most.
Blessings
I am in trouble, Fannie Mae will never give 10% or $6000. Why do they even bother when they know its Fannie mae? They know they wont get more then 6%. This sucks.
They can get UPTO $6k that doesn't mean they will get $6K. You need to stay on your ground and say $2K is the best I can do. Most of my negotiations I finish them with the Managers. The Mrgs' will negotiate with you when there is no more to negotiate. 2% is perfectly ok specially for charged offs but they will ALWAYS ask you for more. When you negotiator says 2% won't fly then you ask for the name of her/his suprv and ask to talk to them. That is called negotiation.
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