"The ECOA Valuations compliance guide on page 9 section III states: "loss mitigation transactions, such as loan modifications, short sales and deed-in-lieu transactions, if they are credit transactions covered by Regulation B."
"That is a huge concern for my sellers who are selling short. I'm hoping the Mortgage Debt Relief Act will be extended for at least another year like it was done last year at the 11th hour. NAR needs to step up to the plate on this & make…"
"Each lender has their own Arm's Length Transaction Affidavit. They'll fax it to you along with the SS approval letter. Chase has no idea what the Waiver of Insurance Premium is all about. I just got my SS approved from Chase yesterday…"
"I've had the Arm's Length Affidavit signed by all parties to a short sale transaction but there was nothing on that form regarding a signed Waiver of Insurance Premium. What is that all about? Is this a new form in addition to the…"
"If the SS is HAFA approved, the lender will pay up to 3% toward cc's. If it's a question of helping mom out, why not just have another agent represent her? It gets too complicated with the Arm's Length Affidavit Form that has to be…"
"The Arms' Length Short Sale Affidavit is required by WF, BoA, Ocwen, etc., to be signed by the listing & selling agents, the buyer, seller, title company, & settlement agent. Because of the SAFE Act, it has put Realtors in certain…"
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?
About Me/Profile of yourself: - Please add your Brokerage Company name also!
I'm a NH real estate broker since 1985 with extensive knowledge of the short sale process, BPOs, REO's & distressed properties. I have done loss mitigation & short sale work with BoA, WF, CitiMortgage, Chase, Litton, Saxon, Ocwen, UBS, US Bank. My short sale & REO expertise covers condos, multi-families, single family homes, vacation properties. I am currently affiliated with Brin Realty Group with offices in Nashua, Amherst & Bedford, NH.
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June 18, 2012
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