partnerfirst short sale: Short sales increase drastically nationwide! REO’s continue to fall… - 05/09/11 12:13 PM
Need more reason to stay connected to what is going on at PartnerFirst?  This very recent report confirms the inevitable!
Short sales rose from 17% of all sales in Feb to 19.6% of all sales in March and continue to outpace REO’s. This is good news for Realtors and homeowners and I take it as an indicator of a couple positive trends.
 1. Buyers are more willing than ever to consider short sales as options for them to purchase
 2. Realtors, on both sides of the transaction, are becoming more informed about short sales and less afraid of the problems that … (0 comments)

partnerfirst short sale: GSE's align on delinquency management...finally! - 05/09/11 11:45 AM
By: Jacob Swodeck - PartnerFirst, Director of Education
So, if you’re wondering what is happening at the highest levels in the mortgage servicing world, here it is! The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to align their guidelines for servicing delinquent mortgages they own or guarantee.  According to the FHFA, this framework will create uniform servicing requirements, as well as monetary incentives for servicers that perform well and penalties for servicers that do not.
The directive requires the two government-sponsored enterprises to align servicing requirements in four areas: borrower contact, delinquency management practices, loan modifications and foreclosure … (0 comments)

partnerfirst short sale: 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)

partnerfirst short sale: Ehhh, who really cares... - 04/06/11 10:16 AM
By: Jacob Swodeck, PartnerFirst - Director of Education
So what is new in the default servicing world?  The Treasury will start to publish a scorecard of the servicers HAMP performance soon, the House voted by a large majority to end Obama's HAMP program altogether Tuesday evening, the shadow inventory is dropping slightly (but still very little non-GSE REO inventory), Wells Fargo is now on the Equator platform, Bank of America launched a revitalized cooperative (HAFA-like) short sale program, and Fannie Mae is participating in the game changing top-down / lender initiated short sale initiative with default servicing giant ServiceLink.

partnerfirst short sale: 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)

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Top Mortgage Default Industry Executive Bill Breeden Announced as Chief Development Officer of PartnerFirst.
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partnerfirst short sale: NAREB Forms Strategic Partnerships to Serve Minority Communities - 08/23/10 12:01 PM