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Posted on August 17, 2011 at 1:19pm 0 Comments 0 Likes
File went through all the non-HAFA hoops to get started--all cash buyer for last listed price was rejected by FNMA. By this time prices have fallen even more-file re-submitted for FNMA approval at contract price. 30 days later, no response. I have escalated through Equator, sent e-mail to VP of short sales at FNMA, and file is also escalated at FNMA Business Analysis level (takes 10 days for review, she said). No response from anyone through Equator, negotiator has been available only…Continue
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Also, I saw a message from you about 4% commission, but didn't know how to respond. My first approval came back at 6%, but it didn't exclude recourse. Once I negotiated that out, they dropped to 5%, but I wasn't willing to go any lower. They would have had to take the property at that point. Protect your pay and stand your ground!