The type of loan you have and your lender's identity will set the stage for your short sale timeline. You might not recall the type of loan you originally took out.
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Note: If the mortgage loan is current or less than 60 days delinquent, the servicer must determine that the borrower’s monthly payment is in imminent default in accordance with Evaluating a Borrower for Imminent Default for Fannie Mae Short Sale or Fannie Mae Mortgage Release Eligibility in D2-1-01, Determining if the Borrower’s Mortgage.
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The new guidelines are issued to provide quicker and more efficient short sale timelines. If you are a real estate professional involved in short sales, this should come as good news! While many real estate agents avoid short sales because of lengthy and grueling timelines, the new guidelines may encourage more agents to get involved.
Fannie follows Freddie: Sets New Short Sale Timelines. the servicing and loss mitigation standards of Fannie Mae and Freddie Mac. "Short sales are an important tool to help prevent.
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that it is directing servicers to expedite short sale transactions and improve.
Instead, if your loan is owned or securitized by either of the dominant conventional mortgage market players – Fannie Mae or Freddie. short sales say setting mandatory timelines is a step in the.
FHFA ANNOUNCES NEW SHORT SALE GUIDELINES: PROGRAMS ALIGNED TO EXPEDITE ASSISTANCE TO BORROWERS OVERVIEW . The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to align existing short sales programs into one standard short sale program and issue clear guidelines to mortgage servicers.
The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to develop enhanced and aligned strategies for facilitating short sales for homeowners, deeds-in-lieu and deeds-for-lease in order to help more homeowners avoid foreclosure.
Doc Stamps In Connection With Transactions Involving Fannie Mae/Freddie Mac.. Fannie Mae and Freddie Mac Set New Short Sale Timelines September 21, 2012. Does Freddie Mac Own Your Loan?. The lawyers at Berlin Patten Ebling handle a wide variety of real estate matters with clients.
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