"True, I hate when they give 2nds to collection agencies or lawyers:( Always complicates things!"
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Ryan Wessels's Discussions
2nd Loan and Fannie Mae Guidelines
Started this discussion. Last reply by Becky Martin Sep 19, 2011. 6 Replies 0 Likes
I was informed earlier today that a Fannie Mae backed loan would only allow 5% to the second. The second is owed 21203 and is with CCO which claims they will not accept less than 3,000 on any short…Continue
HSBC
Started this discussion. Last reply by Smitty Apr 7, 2011. 5 Replies 0 Likes
Can anyone please help me with HSBC contacts? I need the short sale fax number, authorization fax number, and the short sale number. Anyone who can help it would be great appreciated. Continue
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Julie Tinkey replied to Ryan Wessels's discussion 2nd Loan and Fannie Mae Guidelines"I was able to have the MI company accept the $1250 outside escrow and they changed their approval letter to accept the $1750. Had this 2nd still been with a Bank, it probably never would have happened."
Ryan Wessels replied to Ryan Wessels's discussion 2nd Loan and Fannie Mae Guidelines"I called Fannie Mae directly and asked them about them about their policies. They informed me that it is in fact 6%. I explained the situation and they told me there were very seldom exceptions to this policy, but we could attempt to get…"
Becky Martin replied to Ryan Wessels's discussion 2nd Loan and Fannie Mae Guidelines"How did you resolve this?"
Becky Martin replied to Ryan Wessels's discussion 2nd Loan and Fannie Mae Guidelines"6% has been my experience with Fannie Mae and 10% on Freddie Mac to 2nds"
Julie Tinkey replied to Ryan Wessels's discussion 2nd Loan and Fannie Mae Guidelines"Hi Ryan, I closed one recently where it was a FNMA 1st and a BofA 2nd that an MI company had already bought back. FNMA was only allowing 6% of the outstanding balance to the 2nd. Period. The 2nd wanted $3000 when FNMA would only allow $1750.…"
Ryan Wessels posted a discussion2nd Loan and Fannie Mae Guidelines
I was informed earlier today that a Fannie Mae backed loan would only allow 5% to the second. The second is owed 21203 and is with CCO which claims they will not accept less than 3,000 on any short or 10% on loans more than 30,000. Does anyone know of the guidelines for Fannie Mae in regards to how much they are willing to contribute to a second lien holder?
Ryan Wessels replied to George A. Woods's discussion Getting around a Arms Length Aff.-Possible?"I have received two of these in the past two weeks. Every party to the transaction is being required to sign this affidavit. While all agents, buyers, and sellers have had no problems with signing, my title company will not sign as they…"
Smitty replied to Ryan Wessels's discussion HSBC"The email set up I have on file for them is:
firstname.middleinitial.lastname@us.hsbc.com"
Ryan Wessels replied to Ryan Wessels's discussion HSBC"Frank that was very helpful. Thank you very much. It sent me right to the loss mitigation department."
Angela Alfe replied to Ryan Wessels's discussion HSBC"Call the regular customer service number for the info."
Profile Information
- Occupation
- Realtor, Investor
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- Saint Louis City, Saint Louis County, Saint Charles County, and Jefferson County, all in Missouri.
- Short Sale Designations and/or Special Training
- SFR (Short Sales and Foreclosures Resource)
- 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?
- No
- About Me/Profile of yourself: - Please add your Brokerage Company name also!
- Saint Louis short sale expert Ryan Wessels strives to provide his clients with the best foreclosure rescue and short sale services around. Ryan Wessels also strives to provide his clients with some of the best information on short sales and foreclosure rescue on the web.
-As of 1/1/11, he has succesfully negotiated and completed over 80 short sales for clients all over
the St. Louis area
-5+ years of experience in short sales
-8+ years as a licensed Real Estate Agent in the State of Missouri.
Ryan believes that educating all of his clients on the short sale process is imperative for them to be able to move on with their life with their best foot foward.
He was born and raised in Saint Louis, Missouri and is a graduate of St. Louis University High School and Rockhurst University in Kansas City. Whether you are in need of a foreclosure rescue, or you just owe more on your house than what its worth, Ryan Wessels is the perfect agent for you!
Ryan is a member of STL Real Estate.
- Put in todays date! This is to help stop spammers!
- March 16, 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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Does anyone have any short sale experience with Ocwen Bank?
Started by Varnie Jules in Network Talk. Last reply by Joseph C. Alfe on Monday. 15 Replies 0 Likes
Can the seller pay additional commission?
Started by Jose Hernandez in Question and Answer. Last reply by Satar Naghshineh on Sunday. 63 Replies 0 Likes
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