Comments

• 

  Jennifer Keefer August 25, 2011 at 1:07pm

  I am trying to find some information regarding a post you had commented on previously and am hoping you can help?

  You had posted the following information in regards to 2nd lienholders and the amount they can receive:

  "It depends entirely on who the investor is.  If it is HUD (FHA short sale), max allowed is $2500 regardless of UPB.

  If it is FNMA, max allowed is 6% of UPB (was 8% until FNMA guidelines changed last fall)

  If it is Freddie Mac, max is 10% of UPB or $3,000, whichever is lower

  With HAFA, max is 6% or $6,000, whichever is lower."

  Your comment is leading me to where I need to be, I just need help getting there :)

   

   

  Where can I find official documentation regarding the FNMAE max 6% issue? The second in my transaction will consider 6% IF they have that information. I was told this by the 1st, but they won't put it in writing. I have searched high and low thorugh FNMAE information to find this statement, but I can't find anything that isn't related to HAFA. Client was denied HAFA, so this is a standard "in-house" short sale.