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Single Point of Contact | National Mortgage Settlement

Tweet The National Association of Realtors has long asked of servicers to establish a single point of contact for borrowers. This provision of the settlement will not only aid in maintaining consistency and coordination of loss mitigation options, but will also reduce the amount of time spent by agents and brokers discussing individual short sale...

No Dual Tracking | National Mortgage Settlement

Tweet In agreement with the National Mortgage Settlement, the five major loan servicers can no longer be able to proceed with a foreclosure sale if a short sale or deed-in-lieu of foreclosure has been approved by all parties (first lien investor, junior lien holder, mortgage insurer) and proof of funds or financing has been provided...

Short Sale Timeline | National Mortgage Settlement

Tweet The National Mortgage Settlement contains standards for short sales that are similar to the Treasury Department’s HAFA (Home Affordable Foreclosure Alternative) program. These standards will improve the short sale process by making short sale requirements available publicly. Also part of the standards is the development of co-op programs to evaluate short sales prior to...

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