FHA - HUD Short Sales
Information
HUD rules for FHA short sales, tips, experiences, etc.
Fax LOA: 918-236-3274
PH 877 622-8525
Members: 581
Latest Activity: Sep 28, 2020
FHA Preforeclosure Sale Guidelines
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7-9-13 Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure - Effective 10-1-13.
FHA National Servicing Center
(877) 622-8525 Customer Service
1-800-489-1733 Fax
1-866-808-5050 Fax for LOA
customerservice@novadconsulting.com
301 NW 6th Street, Suite 200
Oklahoma City, OK 73102
National Servicing Center:
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Please note that effective October 1, 2014, Deval LLC will no longer be HUD's National Servicing loan servicing contractor. The new contractor, Novad Management Consulting will be your new point of contact.
For all Customer Service questions please contact [email protected]
FHA Contract Clause
"Sale is contingent upon the seller receiving prior written approval of Insert Name of Lender/Servicer."
FHA Listing Agreement Clause
“Seller may cancel this agreement prior to the ending date
of the listing period without advance notice to the broker, and
without payment of a commission or any other consideration if
the property is conveyed to the mortgage insurer or the mortgage
holder.” The sale completion is subject to approval (under HUD
guidelines) by the mortgagee.
Discussion Forum
NOVAD as 2nd lien
Started by Noelle Battle. Last reply by Short Sale Superstars LLC Nov 22, 2019. 5 Replies 0 Likes
Loan is TOO FAR DELINQUENT to qualify for a Preforeclosure Short Sale?
Started by Neil L.. Last reply by Short Sale Superstars LLC Oct 3, 2019. 2 Replies 0 Likes
Hud/FHA declining to do short sale
Started by Savita Savita. Last reply by Short Sale Superstars LLC Sep 26, 2018. 1 Reply 0 Likes
Comment Wall
Comment
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Comment by Kevin - Greenville, SC on April 3, 2015 at 4:38pm
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you may want to move along if the listing agent has little experience and is doing this on their own.
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Comment by Guerry Clegg on April 3, 2015 at 4:35pm
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We might do that. My concern is that the agent has done only a few short sales, apparently none were FHA, and is following Citi's lead. I know she's not aware that it can be escalated. She's the second listing agent so I'm not sure she even knows all that has or has not been done.
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But as a practical matter the listing agent may/will have to push them to order another. If your buyer is interested make a fair market value offer.
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there is not a waiting period.
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How long after the ATP expires will the lender have to order a new appraisal?
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They don't even need to wait. But as a practical matter the listing agent may/will have to push them.
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When a seller's ATP expires, will the lender have to order a new appraisal to determine an updated acceptable net per FHA? I'm on the buyer's side for a change so I don't know all of the facts, but I'm told the seller had an ATP but it has expired. Not sure when. Listing agent is saying CITI told her they will have to get an offer before they will order an appraisal.
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Comment by jeni lamberto on February 20, 2015 at 10:05am
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I endedn up emailing the authorization to [email protected] and they responded within 24 hours. I just spoke to a contact who gave me a case number after someone else gave me a ticket number. Anywho, I have his direct line. He is calling the USBANK escelation team to find out what's happening. Praying he will help me sort this out. WTH is wrong with USBANK?
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Comment by Wendy Rulnick on February 19, 2015 at 7:03am
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Thanks, Kevin!
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The correct fax number for authorizations to FHA is 1-800-489-1733. I am updating our info box.
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