Mortgage and Lending with All Western Mortgage Broker # 14210

New Fannie Mae rules dfor short sale and foe Deed in Lieu....

Original content by George Souto NMLS #65149

Fannie Mae has announced a new updated.  This time they are revising the waiting period for Deed-in-Lieu of foreclosure and Short Sale on conventional conforming loans effective with applications dated on or after July 1, 2010. Fannie Mae's Automated Underwriting System (DU) will be updated to version 8.1 and implemented during the weekend of June 19, 2010 to include these changes. No changes will be made to bankruptcies or strict foreclosure, so the present guidelines will continue to apply.

Below is a breakdown and time periods for the new changes.


Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or

Posted by

         Kenny Salame                                                                                                  Equal Housing

Kenny Salame
Senior Loan Officer
All Western Mortgage Inc.
8345 W. Sunset Rd.
Suite 380
Las Vegas, NV, 89113
Mobile: 702--506-3301
Direct: 702-947-0609
Office: 702-369-0905
Fax: 702-952-0887

Comments (8)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for the update on this information today. Very useful

May 16, 2010 07:31 AM
Fred Sweezer Sr. CMI, LLC.
Hud Certified 203K Consultant - Long Beach, CA
Certified Home Inspector

Your update is great!

May 16, 2010 07:32 AM
Kenny Salame
All Western Mortgage Broker # 14210 - Las Vegas, NV
NMLS ID 313873

Harry and Fred

Thanks. We all need to keep informed of the changes in our industry.

May 16, 2010 10:27 AM

I recently came across your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.



May 22, 2010 05:40 PM
Kenny Salame
All Western Mortgage Broker # 14210 - Las Vegas, NV
NMLS ID 313873


Thank you. I appreciate knowing when someone reads the blogs and can walk away learning something.

May 23, 2010 08:27 AM
then there's the cnrreut recession. Brought on by a Clinton-era program to force lending to minorities, it was equally wrecked by Clinton's adviser Robert Rubin and his tendency toward cheap money
Feb 18, 2012 09:28 AM
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Feb 27, 2012 08:09 PM
Rob Teeters

Excellent information!

Nov 17, 2012 07:15 AM