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CHASE: As of April the 2nd you better know it all! (Verification Questions)

CHASE: As of April the 2nd you better know it all! (Verification Questions)

As of April the 2nd Chase has changed up the verification process once again. At least we have seen this on with EMC (Chase side of the business) and the particular agents we were dealing with work both Washington Mutual loans as well as EMC’s portfolio. They...
Bank of America: Puts stop to cash out refinances

Bank of America: Puts stop to cash out refinances

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 “surge of refinancing activity” and capacity problems....
SB 458: What can save me from a short sale deficiecny? This does.

SB 458: What can save me from a short sale deficiecny? This does.

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...
Fannie Mae: Bank of America’s HAFA program sees major changes… Leaves many homeowners in the lurch and forecloses on those who waited.

Fannie Mae: Bank of America’s HAFA program sees major changes… Leaves many homeowners in the lurch and forecloses on those who waited.

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...