Jim Schneider's Groups
Jim Schneider's Discussions
Loan Modification Review = three weeks lost time
Started this discussion. Last reply by Ron Scribner Sep 12, 2013. 9 Replies 0 Likes
I've been seeing more servicers force a loan modification review on my short sale clients. I mean clients that have no interest in retaining the home, haven't asked for a mod. This wouldn't bother me…Continue
A Flood of BPOs
Started this discussion. Last reply by Greg Zajdel Aug 17, 2012. 1 Reply 0 Likes
This last week my e-mail has been flooded with BPO requests, I mean THOUSANDS of bpo orders. Mind you these are not requests to me in particular but e-mail blasts for assignments accepted on a first…Continue
Fannie Mae requires shorter short sale Timelines
Started this discussion. Last reply by Jim Schneider Apr 28, 2012. 2 Replies 0 Likes
April 25, 2012Fannie Mae Sets New Short Sale TimelinesNew Guidelines Will Expedite Process, Improve Foreclosure Prevention OptionsAndrew Wilson202-752-5168WASHINGTON, DC – Fannie Mae (FNMA/OTC)…Continue
Can I notarize client affidavits?
Started this discussion. Last reply by Jeffrey Sampson May 4, 2012. 12 Replies 0 Likes
With more and more notarized documents needed, I'm wondering, will banks balk if I get a notary license and notarize the signatures (while being the listing agent on the same file?). It would save a…Continue
Jim Schneider's Page
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- First Name
- Jim
- Last Name
- Schneider
- Are you a...
- Agent
- State
- Illinois
- City
- Bloomingdale-Chicago Suburbs
- My Profile
- sold my first short sale in 2006, since then have sold many more. I am currently working with an attorney that specializes in short sales, but I actively work the negotiating side too.
Jim Schneider's Blog
Wells Fargo short sale approved in 60 days!
Posted on May 24, 2012 at 8:17am 2 Comments 1 Like
Feeling good on this one, sixty days from contract to short sale approval. Investor was Freddie Mac.
How to Find the MI Company
Posted on April 24, 2012 at 4:42am 0 Comments 1 Like
If I see there was less than 20% down at purchase (without a piggyback) or if I see the servicer changing since the loan was issued, I assume there is MI either paid for by the seller or added by the new lender when they bought the loan.
1st, I call the servicer and ask, REPEATEDLY, because you have to find the rep that hasn't got them memo not to give out this critical information. Get the MI company and the mortgage certificate number (it's like the account number for…
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call me if you have specific questions. You speak to one person. One of the most efficient banks to deal with. I do a happy dance when i have one!! but did not want to waive deficiencies.
Hi Jim,
SLS did ask my sellers to pay for the BPO. They tacked on $115 to the next statement and said if the SS is approved, that cost would be built in to the payoff amount. If the SS was denied, the seller would then be responsible for the charge.
Hope this helps,
Azim