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Freddie Mac Standard Short Sale FAQs
FreddieMac Short Payof Overview.pdf
Check your loan here to see if Freddie Mac is the investor:
https://ww3.freddiemac.com/corporate/
Freddie Mac Seller / Servicer Guide:
lLook at CH 64 - 69 Servicing Non-Performing Mortgages>
http://www.freddiemac.com/sell/guide/ Click on the Allregs Link
New Initiative to get Fannie and Freddie on the same page:
Contact Info
Freddie Mac Borrower Outreach 877.518.8429
Freddie Mac: 800- FREDDIE press 0
email structure: [email protected]
Freddie Mac Investor Guidelines Info
Started by Ashley Den Uyl Sep 28, 2015. 0 Replies 0 Likes
I have a buyer doing an RD loan on one of my short sales and is asking for roughly 4% closing cost to be paid by the seller. Does Freddie Mac allow more than 3% seller concessions with an RD loan?Continue
Started by Ashley Den Uyl Sep 28, 2015. 0 Replies 0 Likes
I have a buyer doing an RD loan on one of my short sales and is asking for roughly 4% closing cost to be paid by the seller. Does Freddie Mac allow more than 3% seller concessions with an RD loan?Continue
Started by johnna lodge. Last reply by Kevin - Greenville, SC Aug 3, 2015. 2 Replies 0 Likes
Hi All,I know FHA provides seller contributions at closing for owner occupied sellers.Does freddie mac provide owner occupied contributions for owner occupied properties still?thanks,JohnnaContinue
Started by L Brown. Last reply by L Brown Feb 12, 2015. 2 Replies 0 Likes
We're initiating a short sale with Plaza Home Mortgage and were surprised how quickly they filed a Notice of Sale after the loan mod failed. They are quoting 23 days to auction.This is a Freddie Mac…Continue
Comment
@Allan you should escalate to a manager as there appears to be misscommunication somewhere. That doesn't make sense that they would have a "value" of 298 and then do a price reduction per value dispute and say they want a NET of 269K. Did he want a NET of 298K before?
It's tough to escalate to Freddie Mac directly. At times they let the homeowner escalate to them directly.
310-564-6389
Help!! Im working with Bayview on a Freddie Mac short sale. BTW, been specializing in SSs since 2002 but haven't done a lot of Freddie Mac. A BPO was done on and the value is $298K. However, there are some major structural issues with the house that the BPO guy ignored. The negotiator at Bayview said we could dispute the BPO so I sent in my documentation along with a $40k structural estimate.
A week late the negotiator said the new value came back and it is now $269,000. He instructed me to prepare a new counter with a purchase price of $269K and a revised HUD. So I sent that in and Freddie Mac rejected the offer and they said they wanted Minimum Net Proceeds of $269 which makes the purchase price $297 which is the original value.
I dont really have a lot of confidence in the negotiator at this point. Any ideas on what to do next. Can I directly dispute the value with FM?
@bill I'm pretty confident that the answer is yes, the 1st MTG should be able to confirm that for you if the investor on their note is FHLMC.
310-564-6389
FREDDIE MAC: Is the 2nd Mortgage Required to Waive Deficiency?
I know Freddie has a $6k cap for junior liens.
Does Freddie require the 2nd lien to waive the deficiency (in addition to releasing lien) in exchange for the $6k?
Thanks. Bill Garrett [email protected]
Does anyone know the minimum net requirements for Freddie Mac insured loans?
Anyone who knows policy is it common for Freddie Mac to offer 2.5% cobroke on a foreclosure?
How do you do this?
I understand ONE person told you that. time to escalate to people higher up at PNC and to Freddie Mac.
They closed out my file and told me there is nothing they can do....
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