Fannie plans DU system updates to correctly document pre-foreclosures

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Gerry has decades of experience working in residential mortgage credit and compliance and brings insights that few in the industry can match. In his role, he develops new services and provides support for all post close quality control and quality assurance, pre-close quality control, due diligence services, and document processing services.

Fannie Mae guidelines on getting a Mortgage loan after foreclosure have reduced the amount of time it takes to get approved for a loan through them. You can now apply just two years after filing for bankruptcy or going through a short sale.

2.5 million homes in foreclosure, shadow inventory rising: John Burns  · Meanwhile, prices, which have been steadily zooming up over the past few years, will rise only by a paltry 2.2%-thanks to already meteoric prices in many parts of the country, along with the.

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loan processor 1st city mortgage 2006 – 2009 3 years Registered loans on the origination system and log in request for missing documents and update status of loan application.

Average home prices increase 2.2% in May: Case-Shiller  · Prices increased 5.5 percent annually in September, down from 5.7 percent in August, according to the S&P CoreLogic Case-Shiller U.S. national home price index. The average.

Fannie plans DU system updates to correctly document pre-foreclosures A pre-foreclosure or a short-sale on a borrower’s credit report can mean the difference between them getting approved for a loan – or finding themselves without the ability to pass underwriting.Und.

CFPB targets zombie foreclosures Summary of the cfpb foreclosure avoidance procedures Foreclosure avoidance In response to the poor experience of many distressed borrowers during the mortgage crisis, the CFPB is putting in place new procedures to facilitate borrowers’ access to foreclosure avoidance options. The new rules are designed to provide consistent and meaningful

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be.

On July 29th, 2014 Fannie Mae made an unprecedented move to loosen up waiting period for borrowers that included mortgage debt in a bankruptcy.. This update, effective immediately affects the waiting period for any foreclosure, short sale or deed in lieu of foreclosure that occurred after the mortgage debt was discharged through a bankruptcy.

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Pre Foreclosure Investing - [ Wholesaling Foreclosures ] Prior to this, erroneous credit reporting made underwriting a herculean task. Understanding this issue, Fannie Mae is revamping its automated underwriting system, Desktop Underwriter (DU), to ensure lenders have enough flexibility during the underwriting process to approve borrowers who accidentally end up with a foreclosure on their credit report – when in reality, they went through a pre-foreclosure sale.

The ROI of Ellie Mae’s Encompass Digital mortgage solution read how an independent study quantified how mortgage lenders use Encompass to receive significant ROI – an average of $813 in savings & operational improvement per loan – through improved compliance, loan quality and efficiency.