I received a phone call the week before Christmas from DTS telling me that they would be handling Fannie Mae's short sale outreach. They said they had chosen only a few of the DTS agents to handle the deals. I have received a set of leads so I called in today to see what exactly I'm supposed to offer them since there has been documentation or guidance into what exactly Fannie Mae was offering with their outreach.
I was told that they MIGHT qualify for up to $3000 but that was only with owner occupied properties (not vacant or tenant occupied) and IF they qualified, it would be offered like COOP with no additional incentive available at this time. I was also told that there would be no attempt to stop the foreclosure even when enrolled in the program unless there was an offer on the propety. In the event that they don't qualify, they will be prompted to do a "traditional" Fannie Mae short sale. To me it still sounds like they are working otu the kinks. . .let me know if anyone else has any additional info.
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Now come on MIKE. . .check the posts I've made in all those OLD news forums. I've been a DTS outreach agent in GA since August of 2011. . .B of A has used them to outreach to portfolio and designated investor groups only. The NEW development (as you can see above) is that they are now doing Fannie Mae outreach. . .When they rolled out Coop, they trained the designated agents (which I was a member of) very thoroughly on the program outlines and requirements. The Fannie Mae outreach started with BofA on December 26, 2012, . . .that's the program to which I'm referring:-)
My bad... Just had a brain fart and didn't even read the whole post to be honest, so I owe you an apology! That is definitely BIG news if they are outsourcing for Fannie Mae now!! Hopefully someone will chime in on this, I'll get the word out tomorrow on it.
Was also just watching your cruise video from last year! I left your name OFF the "belligerent, naughty, ain't ever gonna get on this cruise list", so looking forward to seeing you soon!!!
I love you, Mike! You KNOW I do. . .and I WILL be on that cruise. . .but, there WILL be a surprise this year. . . I knew you didn't read the topic. . .and I RELISH the opportunity to point out the "errors" of the male leaders amongst us :-) Can't wait for some three card poker, red bull, and who knows what else. . .
Was just actually on the Liberty of the Seas again a few days ago, but poker and craps just wasn't the same without the Georgia Peaches around!
I have gotten BOA a few leads from them but not told specifically they were Fannie Mae short sales.
talked to someone at DTS the other day--remember these are only Fannie AND Bank of America---not all Fannies
My leads from DTS have dried up in the last 6 months or so...
anyone been getting them still???
been being told there is another batch coming anytime now
DTS offers a webinar that answers some questions. I was concerned that they said the deficiency "may" be waived.
when contacting home owners for cooperative short sales that was the big sales pitch - the lender waiving their right to come after the homeowner for the deficiency, if I cant offer that - what is the point?
I get these as well and have been on with DTS just over a year now. I got on the Fannie training last Friday to get some of the details. It is not all crystal clear yet, but it is very similar to the HAFA and Coop's. The borrower calls in and they let them and us know what the borrowers eligibility is for incentive and participation.
The Fannie's are coming with a lower amount and are much more strict on their criteria to qualify for an incentive.
I am working on one at this moment and as of yesterday, I was told that in my area today or Monday they will be releasing some additional leads.
The leads have been slower, but I also narrowed my area to better be able to meet their contact requirements.
Can anyone tell me how to get registered with DTS and if it is beneficial to do so?