The Johnson Real Estate Group is constantly striving to become Woodbury's top real estate team and wants to make sure our level of service is the kind you would refer to friends and family! With short sales being a larger portion of our business than expected this year I attended another training today on how to be preparred and make sure you are successful in these complicated transactions. Wells Fargo, who is MN's #1 mortgage lender and of couse #1 in the USA had a lot of good information to share regarding the stipulations for the HAFA programs and their in house loans. I found it very interesting that on 80% of their inventory they service the loans for almost 6000 differnt investors and the other 20% is portfolio products. The latter taking only a week sometimes to gain approval if there are no jr. lien holders or MI companies etc. involved. Although very complex transactions, knowing who the players are in the game and the rules they make is the first step to success.
Thanks for reading!