no mortgage insurance: 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)

no mortgage insurance: Fannie Mae owned homes offer special financing- Homepath - 07/24/09 01:31 PM
Hello first time home buyers and Investors,
Fannie Mae is offering special financing program on all the Bank Owned properties with benefits such as No mortgage Insurance, No Appraisal... http://www.utipu.com/app/invited/id/bdfbf211
… (0 comments)

no mortgage insurance: 65,000 homes for sale- GO- Homepath and America One Finance - 04/01/09 07:10 PM
Fannie Mae Oversees A Third Of U.S. Home Loans- and getting creative on selling 65,000 of the ones they now own!

 

Fannie Mae owns or guarantees about a third of the nation's home loans —18.3 million loans valued at $2.7 trillion — according to recent data from the Federal Housing Finance Agency. Due to the increased number of investment foreclosures and the fact that 60% of homeowners walked from their home instead of trying to work out a modification Fannie Mae is found in a situation trying to get creative to move 65,000 homes with as much finesse … (3 comments)