I have a 1st with PNC (Fannie investor) who said my clients were eligible for HAFA.  The 2nd is with Nationstar, a private investor & they will not allow HAFA.  Has anyone had any luck working around this obstacle or is our only option to pursue a traditional short sale?  Thanks in advance!


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amie jensen homes
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I hope someone will correct me if I'm wrong, however . . .

I believe the first lien holder is the key, they want a clear title, so if the second will settle for x cents on the dollar and the first allows it, you are home free.  I don' think it matters whether the second participates in HAFA or not.  I'd like to hear from someone who has had actual experience - all my HAFAs have been one lien or if two, both participated in HAFA.

Good luck.

Thanks John!

The second Lien holder doesnt have to participate in HAFA but if the first lien is going HAFA the second Lien will only get a max of $8,000.00. The seller incentive can now be used to help offset any additional monies the second lien might be asking for but that's it, there is no more.

So if the second lien is unwilling to accept the maximum payout from HAFA, you may need to escalate the file to upper management.


I've done HAFA with Nationstar. If they are second lien, the max they get is $8000. Whoever the second lien is, they have to accept the ma HAFA allows. You need their approval in order to proceed.



@Ginny, the 2nd lienholder investor in Amie's case does not participate in HAFA, therefore; the servicer, NationStar, does not have to accept the HAFA proceeds on behalf of their investor. The investor in this case will most likely demand more than the 8K HAFA is willing to pay, so sellers will need to settle for more with approval from first lienholder and or perhaps first lienholder will help with additional contribution above HAFA guidelines since 2nd lienholder investor does not participate in HAFA.

I'm just trying to decide if I should scratch HAFA & move forward with both as a traditional SS or try to do HAFA with the 1st & battle with the 2nd.  The 2nd lien is around $60k so $8,000 would be pretty good for them to get (more than 10%), especially if my sellers were willing to sign over the $3k incentive as well.  

Nationstar's argument is that they want to right to a promissory note/deficiency.  They are saying the investor is Principal Bank & they won't allow HAFA, however Principal Bank states all of their mortgage investments transferred to Citi Mortgage last year.  I'm trying to get in touch with a higher level contact at Nationstar to get some better info & reason wit them (haha... reasoning... what a concept in short sale land)  

Ginny, do you have any good Nationstar upper management contacts?  Do you know who the investor was on your second?  

I've had success with Nationstar as the first and the second in different transactions with HAFA approvals. I don't know who the investors were, sorry. I did not have to escalate on these and do not have any upper management #s. If there is an investor involved, they do have the final say.



For HAFA, the 2nd has the $ limit, but I have run into the problem where they refuse to release the debt and that blows it out of HAFA, too.


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