real estate short sales: Default Industry Update (for the last 14 days) - 06/07/11 11:50 AM
By: PartnerFirst
 
Things have been a little quiet in the default world for the last few weeks. However, there were some interesting stories and developments that you may find interesting.  I'll give you the Cliff's Notes version...
 
Imminent Default Regulations for Short Sales
Fannie Mae issued a notice to their servicers detailing changes on how they should determine "imminent default" for short sales and DIL's.  In a nutshell, they are now required to use the same method as is used for determining imminent default with a HAMP modification application.  The borrower cannot have more than $25,000 in cash reserves, and must have … (0 comments)

real estate short sales: Secretary Geitner, Welcome to our World - 05/05/10 07:45 AM
Secretary Geitner, Welcome to our World
In what might have been his most direct attack on mortgage servicer performance under Treasury sponsored programs designed to help American homeowners avoid foreclosure, Treasury Secretary Timothy Geitner  stated flatly that "we do not believe servicers are doing enough" when testifying in front of a senate subcommittee on financial services last Thursday.
According to DSNews, Secretary Geitner provided some details. "We are troubled by reports that servicers have foreclosed on potentially eligible homeowners, or that they have steered these borrowers away from HAMP and into the bank's own modification program," Geithner said. "That they have … (0 comments)

real estate short sales: Short Sales Raging Ahead - 03/29/10 08:29 AM
Short Sale Daily News reports:
Short Sale Daily News posted an article recently on the increase of Short Sales from last year to January of this year and some important benefits for banks and homeowners in doing a Short Sale.
     
For full story visit:
http://shortsaledailynews.com/short-sales-raging-ahead/
  
Short Sales Raging Ahead
According to a recently released Campbell/Inside survey, short sales are leading the pack in distressed property sales. Short sale transactions jumped from 10% of home purchases in 2009 to nearly 15.9% of the home purchases last January.
In January, according to the monthly survey of real estate market conditions … (0 comments)

real estate short sales: Treasury Guards Against Short Sale Fraud: - 03/12/10 02:56 AM
As we gear up for the launch of the HAFA program and it’s April 5, 2010 launch there is growing concern as to the potential of shot sale fraud. “The US Treasury Department is taking the necessary steps to prevent short sale fraud under the Home Affordable Foreclosure Alternatives (HAFA) program, officials tell HousingWire today.”
 
HAFA is Buffer Enough Against Short Sale Fraud: Treasury
by JON PRIOR
Original Article Link:
Thursday, March 11th, 2010, 12:15 pm
The US Treasury Department is taking the necessary steps to prevent short sale fraud under the Home Affordable Foreclosure Alternatives (HAFA) program, officials tell … (2 comments)

real estate short sales: WWW.PartnerFirst.org #1 Short Sale Training Network! - 11/24/09 10:05 AM
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real estate short sales: BofA and REO Trans? - 11/03/09 10:40 AM
Equator formally known as REOTrans has reportedly reached an agreement with Bank of America to be the software solution to streamline the short sale process among major lenders.
Partner First has been involved in encouraging dialogue with Equator (REOTrans) as to the role Partner First and our agent network will play with respect to helping streamline the short sale process. See article below: 
BofA Implements Equator (REOTrans) Platform, as Short Sales Gain Ground
By: Carrie Bay of DSNews.com: Link to Original Article
California-based Equator (formerly known as REOTrans) says it has launched the industry’s first-ever short sale module for a large national lender.
 Although Equator declined … (0 comments)

real estate short sales: Legal Matters Affecting Short Sales w/ Mark Mellor of The Mellor Law Group. - 11/03/09 10:34 AM
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