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SPEED: Fannie Mae will directly approve short sales

Having successfully completed over 58,000 short sales in 2012, Fannie Mae announced that they are taking additional steps to speed up the short sale process and help troubled homeowners avoid foreclosure. They will do this through their newly introduced HomePath for Short Sales tool, which is designed to help overcome common short sale challenges.

Fannie Mae Lender Fannie, Freddie issue new mortgage lending rules due to prolonged shutdown – Earlier this month, Fannie Mae released guidance Wednesday with new policies on how lenders can originate mortgages during the government shutdown. The government partially shut down after Congress. Please note: While every effort has been made to ensure the reliability of the content in Ask.

Buying a Home after a Short Sale – Don’t Believe the Naysayers. In this qualifying case, the waiting period is only 1 year even if there were late payments. For more on this, see my article about the FHA Back to Work program.

Fannie Mae is committed to preventing mortgage fraud, including fraud perpetrated by any party or parties involved in transactions related to Fannie Mae Short Sales and/or associated with a Fannie Mae REO property. Fannie Mae expects parties in its transactions to consistently and accurately follow both the letter and spirit of all Fannie Mae.

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The real threat to New York Community Bank will be in the volume of originations and the speed at which loans refinance. The average NYCB mortgage loan life is between three and four years, and that.

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Short sales have a reputation for being, well, kind of a pain in the keister. It’s not uncommon to run across horror stories of the short sale process and timeline stretching out over seven months or more. With that kind of timeline, many buyers shy away from short sales, in spite of the great deals out there.

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Midwest Real Estate Data (MRED) has teamed up with Fannie Mae to provide its brokers and agents with a service designed to shorten the time they have to wait for approval from the GSE on short.

Interestingly, a disappointing batch of data invited only a short-lived bid, leaving the 10-yr note near last week’s low: Q3 GDP estimates were lowered in response to weak Retail Sales. Fannie Mae.

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