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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Remember what the "F" stands for. Posted by JK (the other JK) on December 11, 2009 at 9:17 AM In Reply to: Re: How does the FHA know if a seller is exempt from 90 day vesting rule? posted by Nate on December 09, 2009 at 8:33 PM : : I'm not a loan officer, but I don't think it's the name of the entity that's the issue. It's the title report. The title report will show a foreclosure and deed back to the lender....then the loan officer can check it of their list. But I gotta wonder what they do when the lender isn't one of the biggies...like what about a property that goes back to a private lender. And what about deed in lieus? : : : Banks and loan servicers are exempt from the rule. What is in the loan docs that proves the seller is one of these entities? Any mortgage brokers out there that could shine some light on this? : Interesting thought. What if my entity is named " Addison Mortgage Servicing " or something that affect. FHA = FEDERAL Housing Administration. As in if you try and defraud these guys they will send in the FBI. I think it would be quite easy for them to look at the chain of title and the Trust Deeds on the property to determine whether "Addison Mortgage Service" is a real foreclosing lender or not. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : I'm not a loan officer, but I don't think it's the name of the entity that's the issue. It's the title report. The title report will show a foreclosure and deed back to the lender....then the loan officer can check it of their list. But I gotta wonder what they do when the lender isn't one of the biggies...like what about a property that goes back to a private lender. And what about deed in lieus? : : : : Banks and loan servicers are exempt from the rule. What is in the loan docs that proves the seller is one of these entities? Any mortgage brokers out there that could shine some light on this? : : Interesting thought. What if my entity is named " Addison Mortgage Servicing " or something that affect. : FHA = FEDERAL Housing Administration. As in if you try and defraud these guys they will send in the FBI. I think it would be quite easy for them to look at the chain of title and the Trust Deeds on the property to determine whether "Addison Mortgage Service" is a real foreclosing lender or not. [ 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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