I have received an approval letter from Flagstar but my closing agent is not satisfied with the content.
He says it does not clarify how Raidian MPI company money is to be paid as there is no separate provision for this payment and it is unclear as to whether he is to prepare the release for signature by Flagstar.
I can not get through to the rep having left multiple messages and emails. Anyone with this experience and advise?
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This is the response I got from the Flagstar closing agent: The title company is to not send funds to PMI as all the net proceeds should be sent to us and pmi will then file a claim with us and we will then send funds to pmi to settle the debt that they requested for their approval of the short sale.
It took 4 days to get an answer from Flagstar. It seems when a closer is out there is no one to access their files and jump in when there is a closing. We are closing today 2 days late according to our contract. fortunately this was acceptable to the buyer.
Flagstar did need to get approval from Radian. Radian asked for an additional $5900. which shows on line 405 from the buyer contribution and the seller contribution on 404.
Hud for Flagstar.pdf