hafa: 45 Day Short Sale Approvals or Else! - 04/18/11 11:52 AM
Posted By: Jacob Swodeck, PartnerFirst - Director of Education

 
A new bill that would give servicers 45 days to respond to short sale requests was introduced in the in the U.S. House last week. If passed into law, the Prompt Decision for Qualification of Short Sale Act of 2011, would "require the lender or servicer of a home mortgage, upon a request by the homeowner for a short sale, to make a prompt decision whether to allow the sale."
 
 If this sounds too familiar to you it may be because a similar bill was introduced in September of last … (0 comments)

hafa: NEW - HAFA Approval Timeline (Cheat Sheet) - 04/11/11 10:06 AM
The U.S. Treasury Department has released updates to the policy guidelines for the Home Affordable Foreclosure Alternatives (HAFA) Program:
 
 New HAFA Approval Timeline Reference Guide (CLICK HERE):
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hafa: New HAFA Changes Widen Loopholes for Servicers - 04/08/11 11:26 AM
By: Jacob Swodeck, PartnerFirst - Director of Education
Well, this morning was one of those mornings when you know something isn't right.  
My coffee didn't taste right.  My neck hurt from sleeping wrong.  And, to top it off -HAFA changed...again! Supplemental Directive 10-18 from December 28, 2010 was an encouraging sign for us Realtors and for struggling homeowners.  The HAFA program seemed to have gotten just the improvements it needed to make a dent in this national foreclosure crisis.  Swifter timelines (30 calender days) for servicers to approve or reject HAFA short sales was a big step in the right … (1 comments)

hafa: New Guidance for HAFA Short Sales - Issued by Treasury Department - 04/08/11 07:12 AM

 
New Guidance for HAFA Short Sales - Issued by Treasury Department. A PartnerFirst quick reference guide will be made available soon.
Also, our HAFA Specialist Certification will contain a revised supplemental which will be made available free of charge to ALL who earned the HSC Certification previously. Stay tuned!
DSNEWS ARTICLE:
http://www.dsnews.com/articles/treasury-department-issues-new-guidance-for-hafa-short-sales-2011-04-07
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hafa: Happy Birthday HAFA - 1 Year Old Today! - 04/05/11 12:27 PM
By: Jacob Swodeck, PartnerFirst - Director of Education

I just celebrated my son's one-year birthday late last year.  The party, the presents, the excitement-it was lots of fun!  And there are always those well-intentioned people who asked questions like,  "Is he walking yet, or saying words yet?"  A one year birthday seems to bring about a desire to measure the stature or progress of a thing.  Interestingly enough, HAFA turns one year old today (The Treasury's version).  So, let us ask the questions about its progress, and stature.  Is HAFA up and walking yet?  Or is it still a cute … (1 comments)

hafa: HAFA Treasury Answers pt 1 - 05/21/10 12:44 PM
Working with both the National Association of Realtors and the U.S. Treasury Department on some of the issues that are not directly, or specifically covered in the Supplemental Directive 09-09 (HAFA) continues to be an interesting experience.
NAR has taken the point on HAFA issues and pushes hard at every turn to protect the legitimate interests of agents working on short sale transactions. Treasury wants HAFA to work well in the worst way, but as with most large government institutions is just not set up to respond quickly.
I have several more questions pending with Treasury and Fannie Mae as the … (2 comments)

hafa: Bank of America, IndyMac, and others look to component servicers for solutions: - 04/14/10 09:59 AM
"The REO network of yesterday, is now the PartnerFirst network of today" - Son Nguyen (PartnerFirst) 
I have created a special report for the Active Rain Community. I have to warn you that it is rather long for a traditional blog, however, below are a few sampled points from my special report titled "The Shifting Default Industry".
If you would like to download the report in it's entirety please visit www.partnerfirst.org/connect  There you can also get more information on PartnerFirst and/or register for a free informational webinar on the PartnerFirst Agent Network.
Special Report: "The Shifting Default Industry"  The Phantom Foreclosure Inventory:  Most … (9 comments)