Hi Everyone,
Here are the links to some of the things we talked about in class today.
Here’s the 61 page WA State Foreclosure Resource and Prevention Guide.
We talked about the brand new WA State Foreclosure Fairness Act….and here’s a great blog post from Jess and Julie Lyda on this topic.
There was a question: If a borrower requests a face to face meeting with the lender (under the new Foreclosure Fairness Act) when must that meeting occur? Here is the answer:
“(e) If a meeting is requested by the borrower or the borrower’s housing counselor or attorney, the beneficiary or authorized agent shall schedule the meeting to occur before the notice of default is issued.” See page 9, line 21 of this PDF.
Here’s a link to Redfin’s website. Go to the “search” function and look for the very tiny drop down menu at the top that says “more options” and click on the option that says “foreclosed homes” next to the purple house icon to add the homes that have been foreclosed but have not yet been listed in the MLS.
Here’s a blog post I wrote providing a link to many bank-owned REO lists.
Here’s a link to the Graph Galleries from Calculated Risk. It defaults to the “Unemployment” graph but you can change the topic by selecting one from the top menu (Delinquency, Housing.)
There was a situational question about what is/is not acceptable (under HUD) when an REO listing broker is steering buyers to use ONLY his preferred lender (which is not the selling lender) when selling REOs. Here is Jim Siwek’s contact info. He’s with the HUD OIG office and can take questions on possible mortgage fraud here in the Seattle area.
I mentioned that there would be 100 homes auctioned off by the FDIC this weekend.
Here’s more info on the FHA 203k program.
Hey, hot off the press: FDIC Releases Enforcement Action Against Lenders….this is regarding the sloppy loss mitigation/loan servicing going on out there.
And here’s the Bill Black article that Karyn and I talked about after class.