Comments on: New Fannie Mae Rule prohibits banks from lowering commissions during preforeclosure short sales http://prescottreos.com/prescott-reo-wiki/new-fannie-mae-rule-prohibits-banks-from-lowering-commissions-during-preforeclosure-short-sales/ Your REO Partner in Prescott Arizona Mon, 10 Jan 2011 05:45:38 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: John Ebel http://prescottreos.com/prescott-reo-wiki/new-fannie-mae-rule-prohibits-banks-from-lowering-commissions-during-preforeclosure-short-sales/comment-page-1/#comment-1007 John Ebel Wed, 15 Jul 2009 15:05:18 +0000 http://prescottreos.com/?p=86#comment-1007 Sherry. B of A trying to pull the same trick with me. It appears to me that the announcement applies to Fannie Mae servicers and not Fannie Mae loans. Did you ever get a positive resolution? Sherry. B of A trying to pull the same trick with me. It appears to me that the announcement applies to Fannie Mae servicers and not Fannie Mae loans. Did you ever get a positive resolution?

]]> By: Sherry Bahrami http://prescottreos.com/prescott-reo-wiki/new-fannie-mae-rule-prohibits-banks-from-lowering-commissions-during-preforeclosure-short-sales/comment-page-1/#comment-944 Sherry Bahrami Thu, 04 Jun 2009 19:50:41 +0000 http://prescottreos.com/?p=86#comment-944 Thanks Patrick ... no reply from the Lender yet ... but I did call Fannie and they checked and indicated that this particular loan is not owned by Fannie Mae ... are we just basically out of luck or could the 09-03 Announcement still provide us with some kind of protection? :-) Thanks Patrick … no reply from the Lender yet … but I did call Fannie and they checked and indicated that this particular loan is not owned by Fannie Mae … are we just basically out of luck or could the 09-03 Announcement still provide us with some kind of protection? :-)

]]> By: Patrick Schutte http://prescottreos.com/prescott-reo-wiki/new-fannie-mae-rule-prohibits-banks-from-lowering-commissions-during-preforeclosure-short-sales/comment-page-1/#comment-942 Patrick Schutte Thu, 04 Jun 2009 16:42:25 +0000 http://prescottreos.com/?p=86#comment-942 You've done all the things that you can do. I would continue to send the notice to asset managers who pull this crap. Perhaps they can develop some internal policies around the notice. Thanks for the input, Sherry! :) PS You’ve done all the things that you can do. I would continue to send the notice to asset managers who pull this crap. Perhaps they can develop some internal policies around the notice.

Thanks for the input, Sherry! :) PS

]]> By: Sherry Bahrami http://prescottreos.com/prescott-reo-wiki/new-fannie-mae-rule-prohibits-banks-from-lowering-commissions-during-preforeclosure-short-sales/comment-page-1/#comment-941 Sherry Bahrami Thu, 04 Jun 2009 02:45:12 +0000 http://prescottreos.com/?p=86#comment-941 Hi Patrick, thanks for the great info ... my understanding is that this rule applied to instruments which are owned by Fannie Mae. Countrywide (now B of A) 2nd stage negotiator just sent me a directive to reduce our commissions by over $6,000 which is less that even a 5% rate. I went on the Fannie Mae Look-up tool to see if the property has a loan that is owned by Fannie and no match was found. It seems unlikely, because it was a conforming loan with a 1st under $400K and a HELOC under $75K. I also punched in several other addresses of like properties in the area and surrounding cities and none yielded a match ... have you had any experience tracing who owns the loan with this system? I asked the servicer to comment on the ownership of the loan and sent him a copy of the Fannie March announcement and have not heard back yet. Any suggestions? Hi Patrick, thanks for the great info … my understanding is that this rule applied to instruments which are owned by Fannie Mae. Countrywide (now B of A) 2nd stage negotiator just sent me a directive to reduce our commissions by over $6,000 which is less that even a 5% rate. I went on the Fannie Mae Look-up tool to see if the property has a loan that is owned by Fannie and no match was found. It seems unlikely, because it was a conforming loan with a 1st under $400K and a HELOC under $75K. I also punched in several other addresses of like properties in the area and surrounding cities and none yielded a match … have you had any experience tracing who owns the loan with this system? I asked the servicer to comment on the ownership of the loan and sent him a copy of the Fannie March announcement and have not heard back yet. Any suggestions?

]]> By: Patrick Schutte http://prescottreos.com/prescott-reo-wiki/new-fannie-mae-rule-prohibits-banks-from-lowering-commissions-during-preforeclosure-short-sales/comment-page-1/#comment-3 Patrick Schutte Fri, 27 Feb 2009 03:50:13 +0000 http://prescottreos.com/?p=86#comment-3 You're welcome, Dave! Just trying to keep everyone up to date on what's going on in these interesting times. :) PS You’re welcome, Dave!

Just trying to keep everyone up to date on what’s going on in these interesting times.

:) PS

]]> By: Dave Conners http://prescottreos.com/prescott-reo-wiki/new-fannie-mae-rule-prohibits-banks-from-lowering-commissions-during-preforeclosure-short-sales/comment-page-1/#comment-2 Dave Conners Fri, 27 Feb 2009 01:38:14 +0000 http://prescottreos.com/?p=86#comment-2 Thanks Patrick, You really do a nice job on your website and emails. I appreciate the updates. All the Best, Dave Conners Keller Williams Check Realty Thanks Patrick, You really do a nice job on your website and emails. I appreciate the updates.

All the Best,

Dave Conners
Keller Williams Check Realty

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