Comment

Comment by Debbie Parkans, CDPE, CSSG, CRS on March 16, 2012 at 10:05pm

They seem to be moving a bit quicker on the FHA ones right now.  I'm about 30 days in on one and supposedlly getting close to the first approval.  They won't negotiate the contract until the seller is approved and has signed the approval to participate - then they negotiate the offer.  My last BA took only 1 week from the time we sent the ATP back in until I had my approval.

Comment by Patti Guilford on March 16, 2012 at 8:36pm

I tried uploading a new B of A short sale in Equator yesterday and was stopped as it was an FHA loan and instructed to call the 1232 number. I did, they told me what to send. This morning the negotiator for B of A FHA called and said that she keeps an eye on all her files and saw that I had called in yesterday. She ordered the title work and appraisal, emailed me the FHA specific docs for this transaction and said she needed 7 items and we would move forward. I told her you have just increased my faith exponentially in closing this sooner rather than later. It was a nice way to start my day :)

Comment by Debbie Parkans, CDPE, CSSG, CRS on September 25, 2011 at 6:00pm

I have closed 2 so far - A Wells and a Bank of America.  I have a couple more in process.  When you get ready to lst one, ck with the Lender.  Bank of America and Wells both started the process prior to an offer.  Suntrust would not do anything till we had an offer - then started processing it.  Never mind that the FHA guidelines say they are supposed to start by being accepted into the preforclosure program.  One thing I have found - they definately ignore the time frame shown on the FHA letters.  I have acually been lucky on my values - they were within a couple of thousand and I was actually listed higher than the value they came up with.

Comment by KIM CANEDA on September 25, 2011 at 5:28pm

You should submit prior to an offer...as it takes FHA forever to get the FHA Profiler complete with the homeowner..and then they will give you a price..so even if you have a buyer the offer price may not be enough.

Comment by Karin Christa on April 8, 2011 at 1:56am

I was looking for general discussions within this group. Any updates on FHA that are presently in the works?