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  1. Erik Sandstrom

    Refinancing AFTER Covid-19 Forbearance Plan

    Hey Everyone, I thought I would update you as to the most recent rules in regards to what happens after covid related deferral or forbearance. Please see below new information released: Late yesterday, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac are...
  2. Erik Sandstrom

    Mr. Cooper wholesale division shuts down!

    Housing Wire just announced: "Mr. Cooper, the nonbank formerly known as Nationstar Mortgage, is shuttering its wholesale lending program, which Mr. Cooper acquired when it boughtPacific Union Financial last year. According to the company, wholesale lending was a small part of its overall...
  3. Erik Sandstrom

    Bank retained house in forclosure

    I'll keep an eye on things, we've had a number of spammers try and join the forum. It's endless having to scrub through, when you guys see things and report them it helps me get through them quickly so I do appreciate it!
  4. Erik Sandstrom

    Refinancing with a 2nd mortgage transferred to Real Time Resolutions.

    Donfredo, Rates are great, maybe try to engage in a refi and make an offer to them and see if they will accept? We refi those loans all the time but when RTR says they'll accept X, you want to make sure you're ready.
  5. Erik Sandstrom

    Need Help! Bank Charge off of home equity loan 6 years ago.

    Hey Hey, We are business as usual here when it comes to refinancing charged off 2nd liens. Feel free to give me a call if you have any questions - 619-379-8999.
  6. Erik Sandstrom

    Coronovirus Mortgage and Real Estate Crisis of 2020- NOT !

    I'm right there with you Img9512, this quarantine is killing me.
  7. Erik Sandstrom

    Coronavirus And How To Get Help On Your Mortgage

    Thank you all for contributing to this thread, it seems there isn't a common ground between mortgage servicers and my only assumption is that all will follow suit here shortly. I'm not sure I would accept a plan with a deferment due at the end of the 3 months unless it's something absolutely...
  8. Erik Sandstrom

    Coronavirus And How To Get Help On Your Mortgage

    Did you by chance email me a copy of the mod? I haven’t seen anything come through. I’m more than happy to take a look at it. This specific thread I would like to keep as a conversation of what people are doing/have accomplished with their servicers regarding Covid-19 impacted relief.
  9. Erik Sandstrom

    Mortgage not in my name

    If the servicer knows that the borrower passed away they may not be willing to accept payments on the mortgage. I've seen that happen before but I don't want to say that's what would happen. For future reference or if you qualify now (rates are great) - as long as you've been on title for 12...
  10. Erik Sandstrom

    Coronavirus And How To Get Help On Your Mortgage

    Yikes, that's exactly what we DON'T want, it all becoming due at the end of the 4 months.That changes nothing and is exactly what is implemented today called "UP Forbearance" which is the unemployment forbearance program. Can everyone please update this forum as to what the servicers are doing...
  11. Erik Sandstrom

    Home Loan Programs With A Prior Short Sale Or Bankruptcy

    There's a possibility, can you shoot me an e-mail with more details? here's what I will need: Chapter 13 dismissal date? Was the property included in BK? And some generic items like: Property Value: Current loan amount: FICO score: Property type (single family..etc): Occupancy type (owner...
  12. Erik Sandstrom

    Coronavirus And How To Get Help On Your Mortgage

    Hey isisis, Right now rates are great but it would really depend on what is being offered within the modification. I know both you and I have seen some really amazing modifications in our day down at 2% levels, interest rates aren't that low. The market is also extremely volatile and we've been...
  13. Erik Sandstrom

    Coronovirus Mortgage and Real Estate Crisis of 2020- NOT !

    IsisisLover, RidingAndChasingToo & BigFrog you're very close to getting banned from the forum. I see that you are creating multiple user names under the forum acting as if you are different people. I have absolutely no problem banning your IP, I've been hesitant to do that because you do...
  14. Erik Sandstrom

    Coronavirus Lending Update 03/23/2020

    How Does All This Impact Borrowers Directly? Highly volatile rate market Temporary layoffs or shut downs could make it more challenging for all borrowers to get approved Government recording offices and third-party vendors shutting down will potentially affect borrowers being able to...
  15. Erik Sandstrom

    How are Current Market Circumstances Expected to Impact the Industry?

    As we enter into a situation that is largely unknown of what happens day by day. I've been getting asked often what's happening on the lending side and below are a few bullet points of what is happening as we speak. Warehouse lines limiting/restricting funding Hedge challenges (pricing in...
  16. Erik Sandstrom

    Why Don't Mortgage Rates Follow the 10-yr Treasury?

    Here are a couple examples of why mortgage rates don't follow the 10-yr Treasury that I thought would be useful for our members. More Risk. The 10-year Treasury is backed by the full faith and credit of the US government. Mortgage bonds are backed by the full faith and credit of American...
  17. Erik Sandstrom

    Coronovirus Mortgage and Real Estate Crisis of 2020- NOT !

    This forum isn't about god or faith, more about helping people with mortgages that are in need. You can continue believing in your faith and having your own opinion, I won't knock you there. But this being a gift from god, a pandemic - really?
  18. Erik Sandstrom

    Coronavirus Lending Update 03/23/2020

    We've seen a lot happen over the period of time this pandemic has started and today was another one of those days. Here are your latest updates: • MORTGAGE RATES: The Fed announced this morning that they will purchase as much US debt as necessary to stabilize the economy. This will include...
  19. Erik Sandstrom

    Coronavirus And How To Get Help On Your Mortgage

    Have you suffered a loss of income during this Covid-19 pandemic? If you have, you may qualify for a variety of programs being offered by Fannie Mae, Freddie Mac, Ginnie Mae (FHA), VA and USDA. Mainly government programs will and or have started participating in a program allowing payment...
  20. Erik Sandstrom

    Coronovirus Mortgage and Real Estate Crisis of 2020- NOT !

    Let's not hope for defaults, these are human beings, homeowners that have families living in homes. None of us want another crisis to occur except for the people looking to capitalize on lower home values. This pandemic is nothing to joke about and I sincerely hope all of our members are as...