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	<title>Mortgage Lender Report</title>
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		<title>Bank of America: Puts stop to cash out refinances</title>
		<link>http://www.mlreport.com/2012/01/31/bank-of-america-puts-stop-to-cash-out-refinances/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=bank-of-america-puts-stop-to-cash-out-refinances</link>
		<comments>http://www.mlreport.com/2012/01/31/bank-of-america-puts-stop-to-cash-out-refinances/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 18:31:04 +0000</pubDate>
		<dc:creator>Dan Chapman</dc:creator>
				<category><![CDATA[B of A]]></category>
		<category><![CDATA[BAC]]></category>
		<category><![CDATA[BAC Home Loan Servicing LP]]></category>
		<category><![CDATA[BAC Home Loans Servicing]]></category>
		<category><![CDATA[bank of america]]></category>
		<category><![CDATA[BoA]]></category>
		<category><![CDATA[Cash Out Refi]]></category>
		<category><![CDATA[Cash Out Refinance]]></category>
		<category><![CDATA[Debt Consolidation]]></category>
		<category><![CDATA[HARP]]></category>
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		<category><![CDATA[cash out refinances]]></category>
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		<guid isPermaLink="false">http://www.mlreport.com/?p=2092</guid>
		<description><![CDATA[Bank of America certainly turned some heads last week when it told its retail loan officers nationwide that the lender will halt, for now, originations of cash-out refinancings, citing what it calls a &#8220;surge of refinancing activity&#8221; and capacity problems. A memo written by B of A home loans sales executive Matt Vernon notes that &#8220;while we regret the inconvenience this will cause to some of our customers in the short term, we are making the responsible choice that is in the best interest of our long-term capabilities to provide a predictable customer experience.&#8221; In spite of arguments that this is some of the cleanest product ever to be originated, and profit margins being solid for many in the business, BofA continued to de-emphasize residential loans in the fourth quarter, producing just over $22 billion in mortgages, a stunning 75% decline from 4Q 2010.]]></description>
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		</item>
		<item>
		<title>What&#8217;s the difference?: Chapter 7 v. Chapter 13</title>
		<link>http://www.mlreport.com/2012/01/25/2083/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=2083</link>
		<comments>http://www.mlreport.com/2012/01/25/2083/#comments</comments>
		<pubDate>Thu, 26 Jan 2012 04:50:31 +0000</pubDate>
		<dc:creator>Michael Parker</dc:creator>
				<category><![CDATA[mortgage assistance]]></category>
		<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Bankruptcy Code]]></category>
		<category><![CDATA[Chapter 13]]></category>
		<category><![CDATA[chapter 7]]></category>
		<category><![CDATA[Emergency 13]]></category>
		<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[lawyer]]></category>
		<category><![CDATA[Liquidation]]></category>
		<category><![CDATA[Reorganization]]></category>
		<category><![CDATA[Short Sale]]></category>
		<category><![CDATA[Woodland Hills Attorney]]></category>
		<category><![CDATA[Woodland Hills Bankruptcy Attorney]]></category>

		<guid isPermaLink="false">http://www.mlreport.com/?p=2083</guid>
		<description><![CDATA[Even though many individuals are familiar with bankruptcy in general, few are aware of the differences between a Chapter 7 and a Chapter 13. First, a Chapter 7 bankruptcy is considered a liquidation of assets. A Chapter 13 is a reorganization of debts for an individual with regular income. In Chapter 7, most unsecured debts are discharged within 3-4 months. During this process your property is generally sold to pay off outstanding debt. However, there are exceptions such as homestead laws that allow you to protect certain assets. The process moves quickly, and creditors cannot contact you while the automatic stay is in effect. Eligibility for Chapter 7 is determined by income and the means test. Chapter 13, on the other hand, allows a petitioner to keep most of their property, while spreading out the time to pay on past due accounts. The typical payment plan allows the petitioner 3-5 years to catch up on delinquent accounts. This plan must be accepted by all of the petitioner’s creditors and approved by the Trustee. At the end of the payment plan period, any remaining outstanding debts will be discharged. Most individuals will qualify for Chapter 13, however, if an individual has [...]]]></description>
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		</item>
		<item>
		<title>Incomplete Bankruptcy Petitions: The Truth Behind Emergency Chapter 13s</title>
		<link>http://www.mlreport.com/2012/01/22/incomplete-bankruptcy-petitions-the-truth-behind-emergency-chapter-13s/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=incomplete-bankruptcy-petitions-the-truth-behind-emergency-chapter-13s</link>
		<comments>http://www.mlreport.com/2012/01/22/incomplete-bankruptcy-petitions-the-truth-behind-emergency-chapter-13s/#comments</comments>
		<pubDate>Mon, 23 Jan 2012 04:45:33 +0000</pubDate>
		<dc:creator>Michael Parker</dc:creator>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Bankruptcy Laws]]></category>
		<category><![CDATA[Foreclosure]]></category>
		<category><![CDATA[Foreclosure Assistance]]></category>
		<category><![CDATA[attorney]]></category>
		<category><![CDATA[Automatic Stay]]></category>
		<category><![CDATA[Bankruptcy Court]]></category>
		<category><![CDATA[Emergency Chapter 13]]></category>
		<category><![CDATA[Incomplete Bankruptcy]]></category>
		<category><![CDATA[lawyer]]></category>

		<guid isPermaLink="false">http://www.mlreport.com/?p=2070</guid>
		<description><![CDATA[Many people call a Chapter 13 filed on the dawn of a foreclosure sale an emergency Chapter 13. However, it would be more accurate to call it an incomplete Chapter 13. An emergency Chapter 13 Bankruptcy is often done in order to stop the sale of a property at the very last minute. Sometimes, when negotiating with a lender on a short sale or modification, the borrower is unable to get an extension of the sale date. In those circumstances, the most effective way to halt the sale is to file bankruptcy in Federal Court. Many attorneys and legal document preparers call this type of filing an emergency Chapter 13. However, there is no such term in the bankruptcy code, and there is no such process built into the bankruptcy system for “emergency filings.” Under the bankruptcy code, a petitioner may amend a bankruptcy petition up to fourteen days after filing. What an emergency Chapter 13 is then, is an incomplete petition naming only the property being foreclosed on. This is done to expedite the filing process (preparing a full Chapter 13 takes significantly longer). The petitioner may then amend within the fourteen day period to complete the bankruptcy petition. DISCLAIMER: [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>MHA-HUP: Freddie Mac (FHLMC) to give homeowners more time in their homes!</title>
		<link>http://www.mlreport.com/2012/01/22/mha-hup-freddie-mac-fhlmc-to-give-homeowners-more-time-in-their-homes/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=mha-hup-freddie-mac-fhlmc-to-give-homeowners-more-time-in-their-homes</link>
		<comments>http://www.mlreport.com/2012/01/22/mha-hup-freddie-mac-fhlmc-to-give-homeowners-more-time-in-their-homes/#comments</comments>
		<pubDate>Sun, 22 Jan 2012 19:17:40 +0000</pubDate>
		<dc:creator>Loss Mitigation Advocates @ Absolute Consultant Group</dc:creator>
				<category><![CDATA[HAFA]]></category>
		<category><![CDATA[hamp]]></category>
		<category><![CDATA[HARP]]></category>
		<category><![CDATA[hasp]]></category>
		<category><![CDATA[Help]]></category>
		<category><![CDATA[Making Homes Affordable]]></category>
		<category><![CDATA[mha]]></category>
		<category><![CDATA[mortgage assistance]]></category>
		<category><![CDATA[12 months]]></category>
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		<category><![CDATA[anything]]></category>
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		<category><![CDATA[CONTACT]]></category>
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		<category><![CDATA[customer care team]]></category>
		<category><![CDATA[FHLMC]]></category>
		<category><![CDATA[forbearance]]></category>
		<category><![CDATA[Freddie]]></category>
		<category><![CDATA[freddie mac]]></category>
		<category><![CDATA[GSEs]]></category>
		<category><![CDATA[hardships]]></category>
		<category><![CDATA[homeowner]]></category>
		<category><![CDATA[Homeowners]]></category>
		<category><![CDATA[MHA-HUP]]></category>
		<category><![CDATA[natural disaster]]></category>
		<category><![CDATA[NY]]></category>
		<category><![CDATA[option 1]]></category>
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		<category><![CDATA[US]]></category>

		<guid isPermaLink="false">http://www.mlreport.com/?p=2062</guid>
		<description><![CDATA[For many the industry isn&#8217;t getting better at solving their problems. Hopefully, at least for those finding themselves experiencing a long bout with unemployment, they will find a little relief coming from at least one of the GSEs Freddie Mac. In an announcement FHLMC stated that they would be extending their previous Forbearance plans in an effort to keep people in their homes from the traditional 6 months up to 12 months. It isn&#8217;t clear if this is part of the Making Homes Affordable (MHA): HUP (Homeowner Unemployment Program) but it does seems to fit in with many of the other programs such as HAMP and HAFA. Now in our business this isn&#8217;t anything new but was traditionally only extended past the 6 months in the past for sever hardships such as being effected by a natural disaster. In this case is going to be applied to more homeowners and is being expanded to include, and be specifically geared towards, those being affected by unemployment. If you have been affected by unemployment and are looking for assistance please contact our Customer Care Team at 888-945-5553 option 1. We&#8217;re here to stand by you.]]></description>
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		</item>
		<item>
		<title>New and Improved HARP Program to take affect March 1st</title>
		<link>http://www.mlreport.com/2012/01/17/new-and-improved-harp-program-to-take-affect-march-1st/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=new-and-improved-harp-program-to-take-affect-march-1st</link>
		<comments>http://www.mlreport.com/2012/01/17/new-and-improved-harp-program-to-take-affect-march-1st/#comments</comments>
		<pubDate>Tue, 17 Jan 2012 19:36:54 +0000</pubDate>
		<dc:creator>Dan Chapman</dc:creator>
				<category><![CDATA[mortgage assistance]]></category>

		<guid isPermaLink="false">http://www.mlreport.com/?p=2048</guid>
		<description><![CDATA[On March 1st Fannie Mae is putting the newly enhanced HARP program also known as REFI PLUS into full swing. This will benefit those Homeowners that are underwater to the point of going past 105% loan to value, they will now be able to refinance with No Loan to value cap. This program has been popular but was originally limited to a first mortgage currently owned by Fannie Mae of up to 105% Loan to Value (LTV). The new unlimited cap will allow many upside down mortgages to be refinanced at today&#8217;s low interest rates. For example if you owe 300k on your first mortgage and the home is now worth 200k you may be eligible. Here are some of the details of this program. Mortgage must be a Fannie Mae owned or guaranteed loan No Cap to First Mortgage LTV for All occupancy types If there is a second mortgage it cannot be paid off with the new loan min 620 credit score To see if your mortgage is owned by Fannie Mae go to www.fanniemae.com/loanlookup/ &#160; &#160; &#160; &#160; &#160; &#160; &#160;]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>SB 458: What can save me from a short sale deficiecny? This does.</title>
		<link>http://www.mlreport.com/2011/08/07/sb-458-what-can-save-me-from-a-short-sale-deficiecny-this-does/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=sb-458-what-can-save-me-from-a-short-sale-deficiecny-this-does</link>
		<comments>http://www.mlreport.com/2011/08/07/sb-458-what-can-save-me-from-a-short-sale-deficiecny-this-does/#comments</comments>
		<pubDate>Sun, 07 Aug 2011 23:21:59 +0000</pubDate>
		<dc:creator>Loss Mitigation Advocates @ Absolute Consultant Group</dc:creator>
				<category><![CDATA[foreclosure laws]]></category>
		<category><![CDATA[Foreclosure News]]></category>
		<category><![CDATA[Foreclosure Rise]]></category>
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		<guid isPermaLink="false">http://www.mlreport.com/?p=2036</guid>
		<description><![CDATA[Senate Majority Leader Corbett came through for many homeowners in a tight pinch. Those that were worried about completing a short sale while still having a second mortgage that could come after them years later, commonly to what everyone refers to as seeking a deficiency, was not a settling thought for many sellers who found themselves with high payments and upside down property values. For many that had been forgotten by the loop-hole left by SB 931 only protecting those homeowners for their first mortgage SB 458 has now closed that loop-hole on second mortgages as well. As many homeowners during that last boom found lenders pushing them towards taking on more than what they could chew there is a hope that this will be a strike back to protect them from any further insult and injury. The bill made into the hands of the governor where it was quickly signed and rushed into law on July 15th. The anti-deficiency law to protect homeowners from their Jr. Liens (second mortgages or other) from coming after them will ride on the heels of SB 931 in this case amending civil code 580E&#8217;s current written form. Many will rejoice but few with [...]]]></description>
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		</item>
		<item>
		<title>Fannie Mae: Bank of America&#8217;s HAFA program sees major changes&#8230; Leaves many homeowners in the lurch and forecloses on those who waited.</title>
		<link>http://www.mlreport.com/2011/08/07/fannie-mae-bank-of-americas-hafa-program-sees-major-changes-leaves-many-homeowners-in-the-lurch-and-forecloses-on-those-who-waited/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=fannie-mae-bank-of-americas-hafa-program-sees-major-changes-leaves-many-homeowners-in-the-lurch-and-forecloses-on-those-who-waited</link>
		<comments>http://www.mlreport.com/2011/08/07/fannie-mae-bank-of-americas-hafa-program-sees-major-changes-leaves-many-homeowners-in-the-lurch-and-forecloses-on-those-who-waited/#comments</comments>
		<pubDate>Sun, 07 Aug 2011 16:19:24 +0000</pubDate>
		<dc:creator>Loss Mitigation Advocates @ Absolute Consultant Group</dc:creator>
				<category><![CDATA[B of A]]></category>
		<category><![CDATA[BAC]]></category>
		<category><![CDATA[BAC Home Loan Servicing LP]]></category>
		<category><![CDATA[BAC Home Loans Servicing]]></category>
		<category><![CDATA[bank of america]]></category>
		<category><![CDATA[BoA]]></category>
		<category><![CDATA[HAFA]]></category>
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		<guid isPermaLink="false">http://www.mlreport.com/?p=2033</guid>
		<description><![CDATA[As of July 13th 2011 Bank of America received a new guidelines (or in the business it is called a directive) from our old pal Fannie Mae(FNMA). In this new guideline change they are requiring homeowners that look to go through the HAFA program to actually jump through several new hoops. One of those hoops is that as the HAFA program was originally designed to help homeowners that had been declined from HAMP providing them an Affordable Foreclosure Alternative to help the bank avoid having to take the home away from the homeowners. Well in this case they are now making all those homeowners that want to go through HAFA go through a check list and if HAMP decline is not on there they will no longer be eligible to participate in HAFA. Also, where HAFA gives the directive that the sale date must be postponed through the processing and review of the file they are now saying that they will no longer allow homeowners to participate in the Home Affordable Foreclosure Alternative if there is a pending sale date within 60 days. To only make matters worse there isn&#8217;t a lot of information about this last part but there [...]]]></description>
		<wfw:commentRss>http://www.mlreport.com/2011/08/07/fannie-mae-bank-of-americas-hafa-program-sees-major-changes-leaves-many-homeowners-in-the-lurch-and-forecloses-on-those-who-waited/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Aurora Bank FSB: Starting today no more emails to Loss Mitigation Processor</title>
		<link>http://www.mlreport.com/2011/08/05/aurora-bank-fsb-starting-today-no-more-emails-to-loss-mitigation-processor/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=aurora-bank-fsb-starting-today-no-more-emails-to-loss-mitigation-processor</link>
		<comments>http://www.mlreport.com/2011/08/05/aurora-bank-fsb-starting-today-no-more-emails-to-loss-mitigation-processor/#comments</comments>
		<pubDate>Fri, 05 Aug 2011 21:27:37 +0000</pubDate>
		<dc:creator>Loss Mitigation Advocates @ Absolute Consultant Group</dc:creator>
				<category><![CDATA[Aurora Bank]]></category>
		<category><![CDATA[Aurora Bank FSB]]></category>
		<category><![CDATA[Aurora Loan Servicing]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[Short Pay Off Help]]></category>
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		<category><![CDATA[account]]></category>
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		<category><![CDATA[Lien]]></category>
		<category><![CDATA[LOA]]></category>
		<category><![CDATA[Loan]]></category>
		<category><![CDATA[Loan Modification]]></category>
		<category><![CDATA[loss]]></category>
		<category><![CDATA[loss mitigation]]></category>
		<category><![CDATA[message]]></category>
		<category><![CDATA[Mitigation]]></category>
		<category><![CDATA[Mod]]></category>
		<category><![CDATA[modification]]></category>
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		<category><![CDATA[mortgage servicer]]></category>
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		<category><![CDATA[way]]></category>

		<guid isPermaLink="false">http://www.mlreport.com/?p=2030</guid>
		<description><![CDATA[In setting a new president starting today Aurora will not longer allow its loss mitigation (loan modification and short sale representatives) to message their processing department representatives. Due to the high volume they are being instructed to only transfer you to their voice mail and/or document the account that you called. They too along with many other mortgage servicers have implemented a one point of contact program possibly due to all the issues that the average homeowner, along with even the professionals, have had trying to make their way through these mortgage gauntlets. We have come to find out that even though this is the case there is still flexibility to always bend the rules as we have found that reaching out to some of our direct contacts at Aurora who have advised us that they still have the ability to make sure all our client&#8217;s processors still get the message.]]></description>
		<wfw:commentRss>http://www.mlreport.com/2011/08/05/aurora-bank-fsb-starting-today-no-more-emails-to-loss-mitigation-processor/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>EMC: Chase slowly engulfs its prey until they become one and the same!</title>
		<link>http://www.mlreport.com/2011/08/02/emc-chase-slowly-engulfs-its-prey-until-they-become-one-and-the-same/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=emc-chase-slowly-engulfs-its-prey-until-they-become-one-and-the-same</link>
		<comments>http://www.mlreport.com/2011/08/02/emc-chase-slowly-engulfs-its-prey-until-they-become-one-and-the-same/#comments</comments>
		<pubDate>Tue, 02 Aug 2011 14:12:47 +0000</pubDate>
		<dc:creator>Loss Mitigation Advocates @ Absolute Consultant Group</dc:creator>
				<category><![CDATA[Chase]]></category>
		<category><![CDATA[Chase Bank]]></category>
		<category><![CDATA[Chase Home Mortgage]]></category>
		<category><![CDATA[Chase Manhattan]]></category>
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		<category><![CDATA[DIFFERENT]]></category>
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		<category><![CDATA[loans]]></category>
		<category><![CDATA[loss mitigation]]></category>
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		<guid isPermaLink="false">http://www.mlreport.com/?p=2020</guid>
		<description><![CDATA[Starting July 1st Chase continued down their path of their slowest merger ever with EMC (Guinness Book of World Records currently weighing out if they qualify for any records). By Chase opening up their Collections Department and other Loss Mitigation Departments to this they hope to start servicing their EMC portfolio in order to help with the overflow. The Chase employees are still working in different portals and are using tools to differentiate what type of loans that you are calling in about but all of Chase&#8217;s Departments should be able to begin to help you with all your EMC needs. Though this merger has taken years there are still complaints from Chase Home Loan workers that are saying the EMC systems are antiquated and run very slowly. We are sure that this will continue to improve but it has definitely added to the run around. There are still dozens of telephone numbers for different departments that are being provided, some that direct you to EMC&#8217;s different departments and many that are now directing you back to Chase. In fact some numbers that you call are specifically asking you if you are either with EMC or with Chase. This is [...]]]></description>
		<wfw:commentRss>http://www.mlreport.com/2011/08/02/emc-chase-slowly-engulfs-its-prey-until-they-become-one-and-the-same/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Wells Fargo: Short Sales go through Equator&#8230; Well at least for the most part.</title>
		<link>http://www.mlreport.com/2011/07/28/wells-fargo-short-sales-go-through-equator-well-at-least-for-the-most-part/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=wells-fargo-short-sales-go-through-equator-well-at-least-for-the-most-part</link>
		<comments>http://www.mlreport.com/2011/07/28/wells-fargo-short-sales-go-through-equator-well-at-least-for-the-most-part/#comments</comments>
		<pubDate>Fri, 29 Jul 2011 03:48:49 +0000</pubDate>
		<dc:creator>Loss Mitigation Advocates @ Absolute Consultant Group</dc:creator>
				<category><![CDATA[Foreclosure Assistance]]></category>
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		<guid isPermaLink="false">http://www.mlreport.com/?p=2021</guid>
		<description><![CDATA[Wells Fargo has a long standing reputation to upkeep of being the fuddy duddy of the Loss Mitigation industry. I am sure that if they could convince people to submit their short sale and loan modification packages via the old horse drawn cart they would. Well in an unprecedented leap into the 20th century, as many of you may know, they have made the leap to Equator. We&#8217;ll wait till the cheering calms&#8230; Ok&#8230; OK&#8230; it&#8217;s been five minutes of applause and we have to move on. This news doesn&#8217;t come too soon for many weary short sale faxers (though they did have one of the most effective fax machines in the industry &#8212; depends on the day). If you thought though that our days of faxing Wells Fargo were totally gone&#8230; Think again. Certain files will still need special handling (much like many of the other Lenders like Bank of America) including but not limited to FHA and VA loans along with other Government Programs. Though it is not clear how the HAFA files will proceed at this time they are saying that loans with pending sale dates within 10 days or less of the sale date will need [...]]]></description>
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		</item>
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