I got a few more short sales approved:
Tyndall Federal Credit Union:
Original Mortgage Amount : $175,000
Sale Price: $85,000
Commission as per PMI: 5%
3 weeks for approval

AHMSI:
Original Mortgage Amount: $235,000
Contract price: $115,000
Commission: 6%
Buyer to pay 1% for short sale fee to AHMSI

Got an extension on a BofA short sale

Closing a Wells Fargo short sale next week

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Jeff - Good info on Tyndall! Congratulations on a banner week, too.
Beware: the story about the MI restricting the commission is tpyically just that ; a story. Determine the amount of MI coverage (ie. 19%,25% etc). Use that percentage against the original loan amount do determine the MI company's liability. If the loss to the lender is greater than the amount of MI coverage then the MI cannot interfere in your compensation with the Seller. Typically, if they are maxed out the MI authorization is drafted from instructions created by the first lender. The first lender will attempt to blame the MI company but that correct and if properly argued the MI authorization will be ammended to the commission as permitted by the first lender and in accordance with GSE or HAFA policy.

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