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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Title Seasoning Posted by CC in OC on December 06, 2009 at 8:44 PM In Reply to: Re: Title Seasoning posted by SDDave on December 05, 2009 at 7:38 AM << They are getting the same agency loan at the same terms as the major lenders without the 90 day seasoning. I have found most qualified buyers not only have a bank relationship, but also a local banking relationship. When I sell, the buyer has to provide me with POF and DU underwriting results with conditions. >> The end buyer's loan isn't an Agency (Fannie/Freddie) loan at origination but it will be after the small local credit union or bank holds the note for 90 days. In other words, they underwrite according to Agency guidelines. There aren't two sets of rules for Agency seller title seasoning. The small bank/credit union requires the DU underwriting results so that they know that, 90 days from now, they can sell the loan to Fannie/Freddie. You can bet that the loan will be shipped on the 91st day to Fannie or Freddie, as per the DU underwriting results. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : << They are getting the same agency loan at the same terms as the major lenders without the 90 day seasoning. I have found most qualified buyers not only have a bank relationship, but also a local banking relationship. When I sell, the buyer has to provide me with POF and DU underwriting results with conditions. >> : The end buyer's loan isn't an Agency (Fannie/Freddie) loan at origination but it will be after the small local credit union or bank holds the note for 90 days. In other words, they underwrite according to Agency guidelines. There aren't two sets of rules for Agency seller title seasoning. The small bank/credit union requires the DU underwriting results so that they know that, 90 days from now, they can sell the loan to Fannie/Freddie. You can bet that the loan will be shipped on the 91st day to Fannie or Freddie, as per the DU underwriting results. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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