Ar_home_b_search
 



fannie mae: Fannie Mae & Our Commission... - 03/01/09 06:14 PM

Fannie Mae loan servicers can no longer require real estate brokers to reduce their commissions as a condition to a short sale approval.  This new Fannie Mae policy takes effect on March 1, 2009.  According to Fannie Mae, the closing of a pre-foreclosure sale cannot be conditioned upon a reduction of the real estate commission to a level below what the listing agent and borrower negotiated.  An exception applies if the total commission is more than six percent of the sales price.
This good news may be tempered by the difficulty for REALTORS® to ascertain whether the underlying loan in … (5 comments)

fannie mae: Freddie/Fannie Suspend Foreclosures Until 1-31-09 (REMINDER) - 01/22/09 10:29 AM
Freddie Mac is extending its suspension of all foreclosure sales and evictions involving occupied single family and 2-4 unit properties with Freddie Mac-owned mortgages through January 31, 2009. The suspension does not apply to vacant single family properties.
The extension will also provide servicers with more time to help troubled borrowers find an alternative to foreclosure and implement the Streamlined Modification Program that went into operation on December 15, 2008. Developed by Freddie Mac, Fannie Mae, the Federal Housing Finance Agency (FHFA), HOPE Now and 27 mortgage servicers, the Streamlined Modification Program was designed to expedite loan modifications for eligible borrowers … (5 comments)

 
Ppilogo

Pederson Properties, Inc.

La Quinta, CA

More about me…

HK Lane La Quinta & Prudential Maui Realtors

Address: 78-100 Main Street Suite 108, La Quinta, CA, 92253

Office Phone: (760) 834-7500 x 4900

Cell Phone: (760) 575-4847

Email Me



Links

Archives

RSS 2.0 Feed for this blog