loan modfication: Washington States 2nd Certified Distress Property Expert - 06/08/10 06:04 PM

I am very happy to say I just completed my CDPE designation and one of two mortgage professionals in the state of Washington with this certification. I look forward to sharing the information with our team at www.nwssn.com and www.nwlmc.com to improve our short sale negotiation business and assist homeowners obtain up to $3,000 under the new HAFA program.
 

 
What is a CDPE?
A Certified Distressed Property Expert® is a professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are … (2 comments)

loan modfication: HAFA starts showing some changes- MGIC streamlines approval process in short sales - 04/09/10 07:41 AM
Due to HAFA making improved timelines on approving short sales, Mortgage Guaranty Insurance Corp. (MGIC) released new guidelines for servicers wanting a quicker route to approvals.
Servicers must get approvals from the lender, investors and, if applicable, insurance companies to execute the agreement. This has sometime slowed down the process for short sale providers another 1-5 weeks. The new MGIC guidelines give an automatic go-ahead if the loan meets certain criteria.
The borrower must be at least 60 days delinquent on the owner-occupied property. The loss on the sale must be less than $75,000, based on a broker price opinion (BPO) or appraisal performed … (0 comments)