Shauna Andrade
  • Lowell, MA
  • United States
  • MA
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USDA as Investor / PennyMac as Servicer

Started this discussion. Last reply by Phoenix Nest Homes Mar 24, 2023. 6 Replies

We're currently working on a short sale where PennyMac is the servicer and USDA is the investor.  PennyMac relayed their appraised value and the required minimum net needed for approval.  We…Continue

Tags: USDA, PennyMac

 

Shauna Andrade's Page

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Phoenix Nest Homes replied to Shauna Andrade's discussion USDA as Investor / PennyMac as Servicer
"Great job! Another one down!"
Mar 24, 2023
Shauna Andrade replied to Shauna Andrade's discussion USDA as Investor / PennyMac as Servicer
"It worked!!!!! Thank you for the tip :)"
Mar 23, 2023
Shauna Andrade replied to Shauna Andrade's discussion USDA as Investor / PennyMac as Servicer
"Hi Minna, we've done this on HUD files, but never USDA.  We just emailed the lender to see if that's an option.  I'll let you know how it goes.  Thank you!"
Mar 20, 2023
Minna Reid replied to Shauna Andrade's discussion USDA as Investor / PennyMac as Servicer
"You can request a variance from HUD on an FHA. I have had much success with variances. I would imagine USDA has a similar process (although I have never had to try with USDA to confirm). Someone correct me if I'm wrong. Would love to know for…"
Mar 20, 2023
Shauna Andrade replied to Shauna Andrade's discussion USDA as Investor / PennyMac as Servicer
"Thank you for the response!  We've had this happen to a few with PHH as the servicer and HUD as the investor - very frustrating.  We'll try what you suggested - thanks again!"
Mar 7, 2023
Phoenix Nest Homes replied to Shauna Andrade's discussion USDA as Investor / PennyMac as Servicer
"They likely want to have a insurance claim made. They can also have the bpo amended or adjusted. I believe its anything over 100k.  Maybe do your own with less.  I have been finding A LOT recently the investors just want the house and make…"
Mar 7, 2023
Shauna Andrade posted a discussion

USDA as Investor / PennyMac as Servicer

We're currently working on a short sale where PennyMac is the servicer and USDA is the investor.  PennyMac relayed their appraised value and the required minimum net needed for approval.  We submitted an offer that exceeded the minimum net required, but the USDA still denied the short sale stating that the appraisal listed 113k in repairs needed to the property.  Their official denial was that it was denied due to excessive repairs needed.  This is also an estate deal so the seller is a…See More
Mar 7, 2023

Profile Information

First Name
Shauna
Last Name
Andrade
Are you a...
3rd Party Negotiator
State
MA
City
Lowell

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