The Agent Insider Blog

One of the biggest challenges agents face today is getting Short Sale Sellers to take action and agree to list with them. One of the ways I teach our students to speed up the process is to use the authority of others to support their message. In the link below, I have included a Fraud [...]

I just wanted to let everyone know about an article regarding HAFA in this month’s Issue of CAR magazine where I outline some of the most important benefits to real estate practitioners who learn about the HAFA program.

We just put together a quick one page list that outlines the roughly 100 servicers and lenders that are now participating in the HAMP/HAFA programs.

It is a great resource to print off, and keep by your desk when you talk to potential clients. You will be able to quickly determine if their servicer or lender is participating in the HAFA program and begin to help them through the HAFA short sale process.

In an effort to help agents and streamline the HAFA short sale process, Bank of America and JP Morgan Chase have posted new information and resources online for real estate agents.

I just came across a very interesting article that forecasts the number of homeowners underwater will rise from 14 million today, to 20 million by the end of 2011. It also points out a correlation between the rates of strategic default, a borrower’s credit score and the state of residence (recourse vs. non-recourse). Excerpt From [...]

On April 5, 2010, the HAFA program became mandatory for all for non-GSE (non-Freddie Mac and Fannie Mae loans) servicers participating in the HAMP program. According to the Making Home Affordable Program Servicer Performance Report issued on July 26, 2010, although some of the servicers were slow to implement the program, as of the end [...]

I had the pleasure to be interviewed a few weeks ago for an article that was posted to the NAR’s homeowner focused website – houselogic.com. The article covers the HAFA program incentives, advantages and disadvantages of a short sale and also gives homeowners a short explanation regarding how to begin the short sale process. Read [...]

Click here to get the chart from the video. This video covers five differences between the Fannie Mae, Freddie Mac and Treasury HAFA Programs: Agent commission differences in the programs. Borrower considerations for eligibility. Factors that can disqualify borrowers from the programs. Minimum Acceptable Net Proceeds (MANP) Servicer requirements after the SSA is signed DOWNLOAD [...]

Now that we have three independent HAFA programs in play (the U.S. Treasury Department HAFA program and the recently released Freddie Mac and Fannie Mae HAFA programs), I am regularly being asked about the differences between the three programs in their guidelines and forms. The three programs are about 80% the same but there are [...]

After waiting for months for what they called the ”imminent” release of their own HAFA programs, Fannie Mae and Freddie Mac finally released their own HAFA guidelines, procedures and forms on June 1, 2010.     As expected the new Fannie and Freddie HAFA short sale rules and forms are almost identical to the original HAFA program for non-GSE [...]