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RMA OR 710?

Posted by Geri L. Lewis on February 18, 2015 at 1:45am in Short Sale Discussions

How do you know which form to use, RMA or 710?  I try to be proactive and get the sellers to fill out the forms prior to getting an offer and it never fails, if I have them fill out RMA, lender will ask for 710 and vice versa. 

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Replies

  • Jonathan Katz February 18, 2015 at 4:55am

    Depends on who the investor is on the note and how the borrower purchased their property (FHA,VA,CONVENTIONAL). FNMA and FHLMC have their version of the UBAF/710 form.

    Brett@ishortsalenow.com

    310-564-6389

    www.ishortsalenow.com

    • Geri L. Lewis > Jonathan Katz February 18, 2015 at 6:14am

       I can figure out by looking at the recorded mortgage whether FHA, VA or Conv, but won't know ahead of time who investor is on the note.  I have the June,2014 version of the Fannie and Freddie 710 form.  So I guess I will just have to wait until the short sale lender asks for RMA or 710.  Thanks for your help Brett.

      • Jonathan Katz > Geri L. Lewis February 18, 2015 at 6:27am

        RMA acts also as aHAFA application. I would suggest having it completed on all non FHA, VA, and USDA files.

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