"Andrew... We were told the first batch (50,000) of Fannie loans are scheduled for transfer on 11/01. The rest of the loans are scheduled over the next 60-90 days. Unfortunately nobody knows exactly when an individual loan transfer will occur. Where…"
"Hi Andrew, you will not need the Ditech ALT... Ditech is closing all departments due to their BK filing. New Servicers are being assigned to all loans.
If the loan is backed by Fannie, New Res/Shellpoint should be the newly assigned Servicer.…"
"Hi Andrew, you are wasting your time with Ditech. They are closing all of their operations due to their BK filing. New Servicers are being assigned to all loans.
If the loan is a Fannie backed loan, Shellpoint/New Res should be the newly…"
We have never closed a VA Compromise Sale with the Borrower being current. VA regulations typically require 60 days of delinquency.
It makes sense the Servicer will not close without the VA backing. I would agree with Brett, where the…"
"Brenda, Typically VA does NOT require the resale language in the new deed. Check with the Servicer though... Sometimes they will require the language. We recently had an FHA file where the restrictive language was required by the Servicer, not FHA.…"
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My seller interprets the language as they can never buy the house back (I consulted an attorney who said this is not exactly the case). In the latest version of the form, under section (b), they would just like to take out the part that says they can never obtain title of the mortgaged premises again. I spoke to Wells and they will not accept a redacted form in any case. Thank you for your response.
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