Greentree says they have an approval for a 1st lien, investor FNMA.  They said FNMA will not pay the sellers closing costs other than RE Commission and 1 lien release fee.  They refuse to pay the seller's attorney/closing fee which is customary.  Greentree claims this is non-negotiable.

Do I push back and fight it or does the seller or maybe the buyer come up with the money?  It is about $1000.

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Your odds are zero of gettting Green Tree to pay Seller's atty. fees. 

Really, what is up with that?

Green Tree is the most strict, in my experience, of all the lenders on specifying what costs they will and will not pay. Heck, they refuse to pay a lot of normal closing costs. For example, they absolutely will not pay for a condo estoppel letter, which in Fla. is usually $200-250. I always provide in the contract that "Buyer pays Seller's costs" in a specified modest amount to account for Green Tree's seller's fees they refuse to pay. 

I suggest find the money somewhere else, and next time, provide for it when the contract is initially signed. 

I have only done a few with greentree but never had any issues.  We dont call it attorney fees, it goes on the HUD as a settlement fee.

There could be an issue of what the Offer is netting as well.

Thanks everyone.

Greentree is just a pain.  I did have a good experience about 1.5 years ago, but now they are just EVIL!!!  I have a shortsale I have been trying to negotiate with them for several months and was hoping it was a Fannie or Freddie so they would have to follow some kind of guidelines - no luck.  It sounds like even if it was Fannie or Freddie, they try and find loopholes anyway.  Good Luck!!!

 

Just got an $800 seller attorney fee approved with Greentree yesterday.  I'm in an attorney state though.

Well, I wanted to follow up with the end of the story.  We lost that buyer and when I submitted the HUD for the new buyer I put the attorney fees back and they did not touch them and the attorney was paid,  Go figure.  The first rep was just trying to show he would get more money out of me.

remember. they are called negotiators for a reason.:)

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