This article was originally published on Inman Select, November 3, 2015 Recent background At the end of 2013, mortgage companies and real estate firms dismantled their affiliated business arrangements (AfBAs) because the 2014 Qualified Mortgage rule required profits from AfBAs be included in the 3 percent limit on fee income. As 2014 unfolded, lenders and […]
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So you want to teach Realtor clock hour classes….How to get started
What’s your end game? Do you want to teach Realtor clock hour classes because you want to make a lot of money? Maybe you don’t care about the money because you have some other job where you already make pretty good money but instead want to use the classes as a way to get in […]
WA State Foreclosure Resource Guide
Washington State has published a Foreclosure Resource and Prevention Guide from the Attorney General’s office. It’s 61 pages long which makes it not economical to print and hand out to homeowners, however it has some great prevention warnings such as “Beware of companies that charge fees to help you prevent foreclosure. Several of these companies’ […]
Washington State Department of Licensing Issues Short Sale Advisory
The Real Estate Division of the Washington State Department of Licensing and the Department of Financial Institutions have issued two memos about short sales. The DOL Short Sale Advisory is for home sellers but really should be for both sellers AND their Realtors/real estate brokers. DFI’s companion advisory is titled “Short Sale Guidance for Licensees” and contains many Q&As for both loan modification and […]
Questions to Ask the Listing Agent on a Short Sale
How many short sales have you successfully closed? How many of your short sales have gone into foreclosure? Has the seller completed the bank’s required paperwork? Are you negotiating this yourself or will a third party be negotiating? (If it’s a third party, see this blog post for 21 questions to ask your third party short sale […]
Bank Owned REOs
While doing research for one of my new classes, “Buying an REO” I came across an outdated list of direct links to bank REOs for sale. So I decided to update the links and repost it for my students. I also added some regional banks from the Pacific Northwest. Feel free to leave new links in […]
Predatory Short Sale Negotiators
I received a call the other day from a consumer who was in the process of purchasing a short sale home. The homeowner has defaulted on her mortgage and the trustee sale auction has been postponed a few times now that this buyer’s firm offer has finally reached the lender’s loss mitigation decision-maker. Once the […]
Certified Foreclosure Specialist™ Designation Receives Official Trademark Certificate
The Secretary of State, Washington State, has rewarded a trademark certificate to CE Forward, Inc. for: Certified Foreclosure Specialist™ and the acronym CFS™ for the purpose of educating real estate brokers and Realtors in a specialized area of real estate: pre-foreclosures, short sales, foreclosures, and REOs. For more information, contact Jillayne Schlicke 206-931-2241 or visit the CFS™ Designation […]