Donal J Dowling
  • Cape Coral, FL
  • United States
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Donal J Dowling's Discussions

Fannie Mae declination due to borrower still paying mortgage

Started this discussion. Last reply by Douglas Heise Jan 6, 2013. 10 Replies

The servicer is Navy federal Credit Union and I got as far with negotiator as to the borrower agreeing to signing a promissory note ,all taking the usual 9 months or so to get to this stage The…Continue

HAFA SHORT SALE OFFERS

Started this discussion. Last reply by Donal J Dowling Jan 19, 2012. 2 Replies

 I am trying to establish the actual mechanics of "offers" that can be recieved on an established HAFA 'short sale listing price .The 120 day  listing price is higher than the market can take( what a…Continue

Suncoast FCU

Started this discussion. Last reply by Donal J Dowling Dec 7, 2011. 4 Replies

 I am about to start to send a package to Suncoast FCU in respect of a primary residence short- sale.The deficiency will be more no more than 30k but I am told that their usual modus operandi is to…Continue

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Donal J Dowling and Mike Linkenauger are now friends
Apr 2, 2013
Douglas Heise replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"BTW- in regards to the OCC and what they do you can visit this http://www.scribd.com/doc/119166745/Issa-Cummings-Letter"
Jan 6, 2013
Douglas Heise replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"Hey Donal, You are very welcome, I'm glad everything worked out so well. Sometimes carrying a big stick helps. I had to do this with a Nationstar file once when they insisted that the investor declined my approval on an unfounded basis. I sent…"
Jan 6, 2013
Donal J Dowling replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"Hi Douglas  I cannot thank you enough . The negotiator has never, ever responded over the last 10 months to any of my 30 or so emails . After receiving your email I advised him that I was going to appeal the decision to the CEO of Navy…"
Jan 5, 2013
Ben Benita replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"OCC - Office Of The COmptroller Of The Currency - 800-613-6743 They over see some of the Servicers and are an EXCELLENT source for complaints, particularly if you get one of the bank higher ups involved (get your file escalated). Lower level persons…"
Jan 4, 2013
Donal J Dowling replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"HI Douglas Thank you so much for this terrific information  What does OCC mean ? Can the appeal be made online or does a formal submission need to be made  Kindest regards Donal"
Jan 3, 2013
Tracie Norman replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"I actually just ran into this AGAIN today.  This time I was told that even though Fannie and Freddie do agree to REVIEW the files if the borrower is current that unless they have one of the "eligible" hardships:  death of…"
Jan 3, 2013
Douglas Heise replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"Without knowing all of the details regarding why the seller moved I can make a few suggestions based on the new FHFA servicing guidelines issued to the GSE's: http://www.fhfa.gov/webfiles/24211/ShortSalesPRFactFinal.pdf If the seller…"
Jan 2, 2013
Ben Benita replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"We KEEP running into this....where WE have to show the employees at Fannie THEIR OWN GUIDELINES!!!! Fun stuff.....keep pushing, you will get it through. If your Sellers elect to miss payments, be CERTAIN to tell Navy Federal "thank you for…"
Jan 2, 2013
Wendy Smith replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"job transfer is a legitimate exception long before the November 1st directive - I just had one earlier this year and another at the end of last year.  Look in the guidelines, the exception is there."
Dec 21, 2012
Tom Olsewski replied to Donal J Dowling's discussion Fannie Mae declination due to borrower still paying mortgage
"I would send them a copy of the new Fannie Mae guidelines that became effective Nov 1st. here is the link https://www.fanniemae.com/content/announcement/svc1219.pdf"
Dec 21, 2012
Donal J Dowling posted a discussion

Fannie Mae declination due to borrower still paying mortgage

The servicer is Navy federal Credit Union and I got as far with negotiator as to the borrower agreeing to signing a promissory note ,all taking the usual 9 months or so to get to this stage The hardship involved the borrower moving to Orlando from Ft Myers ,about 200 miles, in order to get a better job and improve one of the borrowers prospects.The borrowers have kept paying their mortgage ,in the main due to one of the borrowers work requiring good credit ,.I showed Navy FCU the lease of the…See More
Dec 18, 2012
Joe Beauchamp replied to Donal J Dowling's discussion HAFA DOCS FOR 2ND LIEN HOLDER QUESTION in the group HAFA Short Sale Program
"Hmm. hadn't thought of that or run into it. What the heck am I thinking? That banks are scrupulous ethical entities? Wow, need to get back to drinking reality-juice. Thanks for the heads up!"
Jun 1, 2012
Satar Naghshineh replied to Donal J Dowling's discussion HAFA DOCS FOR 2ND LIEN HOLDER QUESTION in the group HAFA Short Sale Program
"Here's the problem: if you show paycheck stubs and this is a recourse second, they now have info to go after your client to garnish wages. If the bank accounts show a hefty surplus on a monthly basis, then that can lead to a promissory note or…"
May 31, 2012
Ron Gent replied to Donal J Dowling's discussion HAFA DOCS FOR 2ND LIEN HOLDER QUESTION in the group HAFA Short Sale Program
"YOU HAVE DONE MANY SHORTS AND THIS IS THE FIRST TIME YOU GOT HAFA APPROVAL FOR YOUR CLIENTS ???-SOMETHING IS WRONG WITH THIS PICTURE--TELL ME MORE--RON GENT NEW CENTURY REAL ESTATE 909-815-0281"
May 31, 2012
Donal J Dowling added a discussion to the group HAFA Short Sale Program
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HAFA DOCS FOR 2ND LIEN HOLDER QUESTION

Greetings to AllI have done many, many short sales ,but this is my first HAFA to be actually approved .Wells is the first and I have the approval from them with the 6k for the 2nd which happens to be GMAC. The bank statements and paystubs used to obtain the approval were all those supplied at the outset ,Dec, 2011, and having received the approval last week from the first,Wells , I asked the 2nd ,GMAC , for their approval .GMAC are seeking updated information like bank statements and paystubs…See More
Apr 24, 2012

Profile Information

Occupation
Realtor
Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
SW FLORIDA ,LEE county which includes ,Fort Myers ,Cape Coral , Lehigh Acres ,Estero ,Bonita Springs and also Hendry county which inlcudes Labelle
Website
http://www.donaldowling.com
Short Sale Designations and/or Special Training
CDPE (Certified Distressed Property Expert), LMC (Loss Mitigation Consultant), CDRS (Certified Default Resolution Specialist, Harris University Training (Of Some Kind), Equator Certified, HRC (Home Retention Consultant)
Short Sale Transactions Completed
50-100
Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
none
About Me/Profile of yourself: - Please add your Brokerage Company name also!
I am an agent with Re/Max Realty team(110 agents) and have been on the top 3 short sales agent for the last 3 years .I am also a Harris Real Estate graduate and a HRC with Titanium .

I pride myself in my knowledge of the preforeclosure process and the workings of banks and servicers ,and using that knowledge to help homeowners who are underwater and wish to avoid foreclosure .My success rate for successfully listing properties after the initial presentation is 80% and my closing rate for short sales in 98% .I am a former negotiator with Lloyds of London (23 years) and use my vast experience of dealing with families in crisis ,allied to my knowledge of the workings of large corporations ,to assist them ,empathise with them and guide them through the maze of legal and contractual paperwork .
Put in todays date! This is to help stop spammers!
October 21, 2011
PLEASE READ THIS!!! - This site is primarily for Realtors, REAL buyers or sellers with questions are welcome to ask, anyone here for other purposes may be banned. 1. Because this site is primarily for agents agents, Any soliciting is pointless and is not allowed. Please do not sell or promote products or services in any way, directly or indirectly. Do not link or sneak in links promoting your services on comments, posts, discussions or blogs. You may have links on your profile pages to your websites as long as your are not selling things other than real estate! Again, absolutely no outgoing links to your websites, blogs or listings 2. Do not speak disparagingly about members on this site. This community is meant to be helpful, and we are here to help each other. 3. We reserve the right to delete content and/or ban members that violate these rules. 4. Member Name (Full Name Field) format must be FIRST NAME, then LAST NAME! Please no company names, DESIGNATIONS, or website in the name field! Please read the terms of service under the "home" tab! IF YOU AGREE TO THESE TERMS, PLEASE TYPE "I AGREE" IN THE BOX BELOW!! Thanks for your cooperation, and welcome to the Network!
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