Don’t ask IndyMac about what they are doing for their own loan modifications these days because they don’t know. Prior to the Making Homes Affordable Plan (MHA – Obama Plans) and prior to any talk about the HASP/HAMP programs there were regular loan modifications. Some of these loan modifications consisted of principal capitalization, rate...
The state of Nevada is catching up to many other states effectively asking for Certified Funds only at all closing. As of October 1, 2009, per Nevada NRS AB #133, All closing funds must be in the form of a Cashier’s Check or other form of certified funds (check with your title company for...
Wells Fargo Home Mortgage and their sister division America’s Servicing company has just about totally illuminated all their counselors ability to put any thought into their job. They now have a system that diminishes the capability of the agent on the phone from adjusting a plan till it fits the clients needs to now...
Few investors know but in fairy recent legislative efforts in the state of Florida decided to add a tax to all short term rentals. Month to month leases and just about anything less than 6 months the owner must pay sale tax on any rent collected. That means the average investor forecast should take...
Wells Fargo Home Mortgage is notorious for the being nit-picky. Whether it is that one of the contract is not executed to their liking or when they ask you to submit their own listing and contact addendum one thing is guaranteed and that is that they do not want to lose on a deal...
The average person when calling their lender only has one thing in mind; How are they going to help me?!? Rightfully so. Have you ever wondered what was happening on the other end? Well even if you haven’t here’s a little food for though. The average real estate agent deals with a handful of...
Select Portfolio Servicing (SPS) states on their approval letter that 48 hours or two business days prior to closing a short sale they want want to receive a copy of the HUD as it will stand final and recorded. The strange part is most lenders have this clause but they normally send you an...
Wells Fargo Home Mortgage and a subsidiary America’s Servicing Company in a conversation today they advised that they accept payment by phone as certified funds. In essence a payment by phone is not a form of certified funds but would be acceptable. This came directly from the “High Escalation” department supervisor so as for...
In this industry knowing all the details can be the crucial key between getting your client what they need and on the other hand a client receiving a decline. That is why this is new section whereI we are informing the community in yet another vital place. As one can never say that any...