Fannie Mae is always on the look out, like any servicer, for the best solutions that in the long run lose them the least amount of money. Commercial owners and owners of investment properties rarely see the benefits of these programs. Since October of 2009, a little more than a year ago this date,...
Posts Tagged ‘ solution ’
Bank of America: How long before they respond using Equator?
Due to our volume of business with Bank of America we frequently get asked approximately how long it takes us to process a short sale with Bank of America or BAC Home Loans Servicing, LP and, like most lenders, who have a very large volume of short sales (which is most) Bank of America’s...
Service Link Loss Mitigation Services to start Charging a 1% fee for completing short sales
So as if it wasn’t already tough enough to get your mortgage lender on board with your short sale now they are charging you to approve it! Buyers, agents, homeowners, etc. already have enough trouble on a day to day basis processing short sales but now Service Link Loss Mitigation Services a division of...
One, Bank Failure, Two, Bank Failure, Three, Bank Failure, 2009 Leaves a big dent.
A short time ago we were going to report to you about the 100th bank failure in ’09 but as the pixels we typed out were just starting to settle the numbers just jumped again. We decided to ride it out and wait even past January (not only due to the changes we experienced...
IndyMac (OneWestBank): Non-permanent income must be verified for 3 years
IndyMac Mortgage Services, a division of One West Bank FSB, has a policy that has to with all forms of income the could be considered either less than stable or not completely permanent. In order to count for a type of income for a loan modification this income must be accountable into the future....
Wells Fargo Home Mortgage (ASC): What you say can be used against you!
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...
Wells Fargo Home Mortgage (ASC) limit closing costs.
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...