short sales Archive

To Speed Short Sales, Work With Fannie Mae from the Start

Problems getting action on short sales aren’t in the news as much as they were a few years ago but they remain a stumbling block to business and efforts to speed up processing are still needed. Fannie Mae is...
June 6, 2013

They’re Back: Mortgage Schemes

If there was one major takeaway from the National Crime Prevention Council’s 2013 Mortgage Fraud Virtual Conference, it was this: The mortgage market, while no longer a wicked stepchild of the housing crisis, must still be carefully monitored. Though...

Freddie Mac: No on Deficiency Judgments

The secondary mortage market company Freddie Mac has updated its bulletin to servicers of Freddie Mac mortgage loans to make clear that they aren’t to pursue a deficiency judgment against a borrower after a short sale or deed-in-lieu of...
February 17, 2012

Short Sale Affidavit Tweaked to Curb Liability

By Robert Freedman, senior editor, REALTOR® Magazine The affidavit that Freddie Mac requires servicers to obtain in short sales has been changed at NAR’s request to reduce what was seen as an unreasonable amount of liability risk to practitioners....
November 23, 2011

Webinar: BofA Talks Credit Standards, Short Sales

NAR President Ron Phipps and NAR President-elect Moe Veissi will talk with three Bank of America Home Loans executives on the state of home finance, credit standards, and the latest on short sales in a free, hour-long webinar on...

Banks, MID, and GSE Reform Covered in NAR’s First Virtual Town Hall

By Brian Summerfield, Online Editor, REALTOR® Magazine In an effort to get a better sense of the challenges REALTORS® face in today’s market and explain to members NAR’s positions and actions on key issues, the Leadership Team held its...

Foreclosure vs. REOs: Do You Know the Difference?

By Melissa Dittmann Tracey, contributing editor, REALTOR® Magazine Do you ever tell others that you are “showing a foreclosure?” If so, you’re not using the word “foreclosure” correctly. Some real estate professionals use the term to refer to all...
October 11, 2010

Shadow Inventory: How Big, What Opportunities?

By Robert Freedman, senior editor, REALTOR® Magazine You often hear talk within real estate about the shadow inventory that looms over markets. These are the homes that are at risk of going into default or are already owned by...
June 29, 2010

On Short Sales, the Rubber Now Meets the Road

By Robert Freedman, Senior Editor, REALTOR® Magazine It’ll be interesting to see what happens on Monday. That’s the day lenders who participate in the federal government’s mortgage modification program are required to participate in its standardized short-sale procedures. All...
April 2, 2010

Will Distressed Sales Slow Tax Credit Deals?

By Robert Freedman, senior editor, REALTOR® Magazine Congress helped keep home sales on solid ground when it extended and expanded the home buyer tax credit late last year. Given the federal budget deficit, you also have to say it...
February 12, 2010