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7-9-13 Updated Pre-Foreclosure Sale (PFS) and Deed in Lieu (DIL) of Foreclosure - Effective 10-1-13.
FHA National Servicing Center
(877) 622-8525 Customer Service
1-800-489-1733 Fax
1-866-808-5050 Fax for LOA
customerservice@novadconsulting.com
301 NW 6th Street, Suite 200
Oklahoma City, OK 73102
National Servicing Center:
******
Please note that effective October 1, 2014, Deval LLC will no longer be HUD's National Servicing loan servicing contractor. The new contractor, Novad Management Consulting will be your new point of contact.
For all Customer Service questions please contact [email protected]
FHA Contract Clause
"Sale is contingent upon the seller receiving prior written approval of Insert Name of Lender/Servicer."
FHA Listing Agreement Clause
“Seller may cancel this agreement prior to the ending date
of the listing period without advance notice to the broker, and
without payment of a commission or any other consideration if
the property is conveyed to the mortgage insurer or the mortgage
holder.” The sale completion is subject to approval (under HUD
guidelines) by the mortgagee.
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Comment
Thank you Brett Goldsmith!
@grant yes, they still have the PFS program.
Does FHA-HUD still have the Pre-Foreclosure Sale (PFS) Program?
@tracy you need to open up a case with NOVAD and get a HUD counselor assigned to try to push the variance through if challenges arise.
310-564-6389
I have been doing short sales since prior to the market falling in 2007. I am finding that it is getting harder and harder these days as there are few short sales now. I have an issue with Chase Bank saying they submitted a variance to HUD since my seller had rented the house while on military deployment for a couple of years then got divorced and he was forced to do a 100% disabled medical discharge and now divorced with the decree ordering sale of home. They both live out of state. We have exceed the required net. They submitted the variance to HUD on 04/12/2019. Today is the 25th. I called to escalate it with HUD. HUD now has this crazy call center. Anyone have a direct number to HUD loss mitigation?
@ Guerry, call Novad with FHA Case # and open up a ticket to get a HUD Counselor involved if you are having problem with M&T's servicing of the FHA loan.
[email protected]
310-564-6389
How do I escalate an issue with NOVAD and with M&T Bank? Two issues, actually. Lack of communication with my negotiator and an unrealistic valuation due to property condition.
Background: I have a short sale with M&T. We have an ATP, even though we didn't receive it from M&T for nearly 10 days after it was issued. Seller signed and we returned it 10 days ago. Negotiator emailed yesterday stating that the file would be closed if we did not return the signed ATP. I replied -- with the signed ATP attached -- that I sent it 10 days ago but here it is again. She replied that I could send it directly to her. I replied that it was attached to the email she was replying to, so please confirm receipt. I had also asked in that email and the previous one about the appraisal for valuation because it came in high for the property condition. No response to that.
The only time one is able to go below 84% NET from what I've ever seen is when there is a partial claim that is required to get paid.
Gurerry, let me rephrase that for you. You can get to a lower tier prior to the requested time period per the ATP by having a variance submitted. Here's an example: I've gotten 84% NET approved within 30 days of borrower being in the PFS program.
I'm confused. Why would you need a variance for 86 percent within the 30-60 day period when that's the required net for that period?
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