Michael Richert, CDPE
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  • Bakersfield, CA
  • United States

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Mortgage Insurance Battle

Started this discussion. Last reply by Michael Richert, CDPE Apr 29, 2013. 9 Replies

I have a short sale that I've started 5 times with Wells Fargo.  The investor is Freddie Mac.  The MI is Radian.  Appearantly Radian wants $4K.  I have the seller or buyer willing to pay the amount…Continue

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Profile Information

Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
Kern County
Short Sale Designations and/or Special Training
SFR (Short Sales and Foreclosures Resource), CDPE (Certified Distressed Property Expert), HRC (Home Retention Consultant)
Short Sale Transactions Completed
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!
McKinzie Nielsen Real Estate
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February 15, 2011
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Michael Richert, CDPE's Blog

Green Tree Lending is the devil!

Posted on May 17, 2012 at 1:14pm 25 Comments

I suddenly have 4 short sales with Green Tree.  3 are 2nd's.  They are all requiring 15% and are standing their ground.  All 3 houses have a trustee sale within 1 month.  "They don't care" per the negotiator.  These were all previous 2nd's held by BofA that were sold to Green Tree.  All 3, following the approval by the 1st, BofA, will put all 3 properties over current market value to satisfy the 2nd.  Anyone have any tips on Green Tree to get them off their "God Complex"?

Wells Fargo Freddie Mac Requirements

Posted on May 4, 2011 at 2:18pm 2 Comments

The short sale seller has broken her hip, in a nursing home, being placed near family 300 miles from her home.  Not behind on payments but has to sell due to the medical hardship.  Submitted a current market value offer but Wells refused the sale to proceed because they had to talk personally to the seller for required councelling.  No options.  Not allowed a supervisor.  Was informed that they would not allow the short sale under any circumstances unless the borrower was at least 1 month… Continue

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At 11:51am on May 21, 2012, Pamela L Doss said…

I agree with you Green Tree is the hardest servicer to deal with. One one of ours they waited until the day before the sale date to send an approval letter which expired the next day, which was the same date of the sale. The short story is we got this one closed but there are many others in our office that have gone to forclosure sale.



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