SPEED: Fannie Mae will directly approve short sales

Freddie delinquency rate down to lowest level in nearly 3 years Freddie Mac’s single-family delinquency rate dipped 2 basis points (bps) to 0.63 percent. In May 2018 the rate was 0.87 percent. The rate for credit-enhanced Primary Mortgage Insurance loans declined.

Fannie Mae has done an excellent job of emphasizing the long term benefit of short sales and eliminating the short term gain of stealing one commission. If Realtors know they will not have a commissionectomy, it is much more likely that they will do short sales. Thank you Fannie Mae.

Fannie Mae now uses appraisals in addition to BPOs on all short sale valuations (April 1, 2013) Fannie Mae redesigns HomePathforShortSales.com to make the short sale experience more transparent for listing agents and their clients who are pursuing a Fannie Mae short sale (early June 2013) Starting in early June 2013: –

May be eligible for a Fannie Mae mortgage to purchase a home sooner (in as little as 2 years) than if you went through foreclosure (up to 7 years) Flexible exit options let qualified homeowners (or their tenants) leave the home immediately, or consider other ways to transition out

A short sale may take up to 120 days, but this could be shorter or longer depending upon your specific situation. If you are unable to sell your home, you may be able to transfer the ownership of your property to the owner of your mortgage (also called a Mortgage Release or Deed-in-Lieu of Foreclosure).

Bush’s FHA Plan May Only Reach 10 Percent of At-Risk Subprime Borrowers Housing Recovery Stymied With Government at Cross-Purposes – The companies, along with the federal housing administration, back about 90 percent of loan originations. Nine out of 10 mortgages bought by Fannie Mae in the first quarter were held by borrowers..HUD homes add to inventory-starved market New-home purchase applications dip slightly  · MBA Mortgage Applications. With interest rates ticking back up slightly, refinance applications were down 8%, and overall applications fell 3.5% despite a 1% uptick in purchase applications. The average rate for a 30-year fixed conforming mortgage was up four basis points to 4.44%. International TradeWe would like to show you a description here but the site won’t allow us.

2018 Fannie Mae Guidelines On Mortgage After Foreclosure mandates a 7 year waiting period for a home buyer to qualify for a conventional loan However, to qualify for a conventional loan after a deed in lieu of foreclosure and/or short sale is a four year waiting period after deed in lieu of foreclosure and a four year waiting period after a.

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FNMA Invites Simultaneous Short sale Submissions SPEED: Fannie Mae will directly approve short sales. In the past, Fannie Mae has worked to reduce short sale timelines, expand eligibility for short sales and prohibit servicers from reducing an agent’s commission. Throughout the first nine months of 2012, Fannie Mae completed 58,376 short sales.

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