LawsonGroupMediation

I read an article today in the Mortgage News Daily (click here for that article). The author provided quote after quote of stories of woe over the delays of short sale approvals or rejection, the inability to talk to the negotiators, and a stated frustration over spending a couple hours a day trying to push Continue reading...

What did the negotiator tell you? Price not enough? MI carrier did not approve it? Management rejected it?
While those reasons could be right, lender reps often will lie to agents or investors. My review of failed agent cases reveals that most often the agent did not understand the minimum threshold analysis, the Continue reading...

I found the following article at DS News:
HOPE NOW announced this week that 270,000 homeowner solutions were completed in April. This is the largest number of workouts in any month since HOPE NOW began to compile data.
Last month, HOPE NOW members and the mortgage lending industry modified 127,000 mortgages and completed 143,000 repayment plans. Compared Continue reading...

In the news is the following excerpt about Countrywide Home Loans NKA Bank of America:
Bank of America says it modified more than 64,000 Countrywide mortgages between December and March. The workouts are part of the bank’s agreement with 42 state attorneys general to settle predatory lending charges against its Countrywide subsidiary.
A bank spokesperson told Bloomberg Continue reading...

The new administration really screwed up the short sale industry by bailing out lenders and giving them an incentive to foreclose rather than approve short sales. Since then, they have been back-peddling to try to solve this problem.
A result of the government’s efforts is that 2nd mortgage holders will receive a $1,000 payout from the Continue reading...

I help a lot of real estate agents and investors with processing short sales. I have purchased books and courses, and found them littered with errors and misconceptions.
How does this happen? Because agents gain a lot of experience do the things that the lender representatives tell them is the correct way…and they mislead the agents Continue reading...

Many agents and investors believe that the servicing lender is the entity who approves their short sale. This is rarely the case; rather, the loan notes are usually owned by a secondary market investor (SMI) who is usually the entity that approves or rejects a short sale.

Fannie Mae and Freddie Mac are taking steps to attempt to stop double closings on the basis that options contracts are removing short sale properties from the marketplace thereby preventing lenders from mitigating their losses.

Short Sales & Loan Modifications:
A Practical Guide For Real Estate Agents & Investors
This book will guide real estate agents to find, list, process, draft professional proposals, & negotiate a short sale. Designed for the beginner, this book will also help experienced agents to better understand lenders and secondary market investors, complete a legal and market Continue reading...

A lot of people think that just because they have E&O insurance, they are fully protected from liability. Not so!
First, there are many lawsuits across the country involving short sales and loan modifications. They are on the increase. If you are sued, it will cost your time, and time away from your business is money. Continue reading...