Bank of America [stock BAC][/stock] completed more short sales than it unloaded previously foreclosed homes every month for the last year and a half. In May, BofA completed roughly 9,000 short.
They are the chosen platform for 17 of the top 25 lenders nationwide and have handled over 63 million transactions that represents over $67 billion in transactions. For Bank of America they have spent almost 8 months building a Bank of America Short Sale Portal. If you click the link you will see the Bank of America Short sale processing system.
James Mackey heads to Freddie Mac Freddie Mac (OTC: FMCC) announced that James G. Mackey is joining the company as Executive Vice President and Chief financial officer. mackey will be joining Freddie Mac the week of November 11 from his most recent leadership position as Executive Vice President and Chief Financial Officer of Ally Financial.
Just bought my first short sale. wanted to share a timeline. Bank of America. I had a short sale with them wherein we went through 5 negotiators before I got one that was capable of answering emails and calls and giving me. I’ve seen short sales take 12-18 months to get approved, just.
2 Senators, 1 plan to completely reform housing finance? On June 29, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing on "Principles of Housing Finance Reform," marking the Senate’s first formal step this year to discuss the mortgage finance system, including the future of Fannie Mae and Freddie Mac, the mortgage companies that were placed into government conservatorship more than eight years ago. witnesses included The Honorable David H. Stevens, President and Chief Executive Officer of Mortgage Bankers Association.
Can I short sale my investment property?" Some people think that the short sale option is limited only to a personal residence. They probably assume this because there is a lot of hoopla from certain types of lenders over whether a person occupies the home or does not occupy the home, but that has little to do with most short sales.
The data showed that loans becoming delinquent were less likely to proceed to a foreclosure sale during the months after the rule. required servicers to define a complete application as a more.
California AG Wants Pay Option ARM Answers This option may be appropriate if your problem paying your mortgage is temporary. Repayment plan: Your servicer gives you a fixed amount of time to repay the amount you are behind by adding a portion of what is past due to your regular payment. This option may be appropriate if you’ve missed a small number of payments.2018 Women of Influence: Nancy Jardini 2018 Women of Influence: nancy jardini senior vice president and Chief Compliance and Ethics Officer at Fannie Mae. August 1, 2018. KEYWORDS 2018 Women of Influence Fannie Mae Nancy Jardini.
They could have done more, perhaps, but you can’t transfer a few thousand loans to another servicer at the drop of a hat. it takes months to make such a transfer happen, so Bank of America knew far in advance that the loan was part of a pool scheduled to be serviced released, and my experience tells me that they stopped trying.
Read more: Short Sales & Foreclosures on the Rise. Read more: Bank of america short sale deficiency policy Change? Your Mortgage: When to Walk Away. It was quite an honor to be asked by the folks at Rich Dad to speak on the subject of Short Sales and Foreclosures at their Annual Forum last week. It was four days of 12 hours a day intense.