Saturday, July 19, 2008

Someone will have to examine the FNMA rule listed below:

"We believe the likelihood of fraud or misrepresentation increases when the lender is not able to confirm that the property seller in a purchase money transaction (or the borrower in a refinance transaction) is the owner of the subject property based on publicly available information."

That is interesting when you look at short sales and real estate investments in FLorida. There have been a series of real estate short sale blogs discussing FNMA rules recently and I am trying to learn if FNMA short sale Flip rules have changed.

Can someone post a comment and let me know if FNMA short sales are any different than the Fannie Mae short sales we did years ago? I will check back and see if FNMA short sale people have said anything.

Florida short sales are another subject. The FNMA MyCommunity Mortgage was popular some time ago. Many of those My Community FNMA loans are now foreclosures or short sales I suppose. One thing that has changed is FNMA short sales and getting a new FNMA loan is only 2 years now.

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