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  • May 26, 2009 at 5:48 PM #15760
    Oxford
    Participant

    My X is trying to refinance our rental in San Marcos. She moved to Wisconsin last year. My name would not be on the title.

    Here is an email reply she got from her mortgage broker:

    “We ran into a problem with Suntrust Mortgage, and I had resubmitted your loan to another Lender. Suntrust Mortgage declined your loan, because they have a guideline about non-owner occupancy. The owner can not live more than 100 miles away from the property. I know, this is a ridiculous guideline that nobody has ever heard of.

    Fortunately, this not a FNMA requirement. Therefore, other Banks can approve your loan.”

    How stupid? Anyone ever heard of this?

    OX

    May 26, 2009 at 6:26 PM #405915
    (former)FormerSanDiegan
    Participant

    Never heard of this.
    I live about 130 miles from my rental property.

    May 26, 2009 at 6:26 PM #406161
    (former)FormerSanDiegan
    Participant

    Never heard of this.
    I live about 130 miles from my rental property.

    May 26, 2009 at 6:26 PM #406612
    (former)FormerSanDiegan
    Participant

    Never heard of this.
    I live about 130 miles from my rental property.

    May 26, 2009 at 6:26 PM #406463
    (former)FormerSanDiegan
    Participant

    Never heard of this.
    I live about 130 miles from my rental property.

    May 26, 2009 at 6:26 PM #406402
    (former)FormerSanDiegan
    Participant

    Never heard of this.
    I live about 130 miles from my rental property.

    May 26, 2009 at 8:25 PM #405965
    paramount
    Participant

    I tried to refinance under the Home Affordable Act via Wells Fargo (my current lender).

    They gave me the bums rush out the door because at one time I had PMI (no, not PMS).

    They can recover losses through PMI, so there is no motive to help those who have or had PMI.

    May 26, 2009 at 8:25 PM #406661
    paramount
    Participant

    I tried to refinance under the Home Affordable Act via Wells Fargo (my current lender).

    They gave me the bums rush out the door because at one time I had PMI (no, not PMS).

    They can recover losses through PMI, so there is no motive to help those who have or had PMI.

    May 26, 2009 at 8:25 PM #406513
    paramount
    Participant

    I tried to refinance under the Home Affordable Act via Wells Fargo (my current lender).

    They gave me the bums rush out the door because at one time I had PMI (no, not PMS).

    They can recover losses through PMI, so there is no motive to help those who have or had PMI.

    May 26, 2009 at 8:25 PM #406210
    paramount
    Participant

    I tried to refinance under the Home Affordable Act via Wells Fargo (my current lender).

    They gave me the bums rush out the door because at one time I had PMI (no, not PMS).

    They can recover losses through PMI, so there is no motive to help those who have or had PMI.

    May 26, 2009 at 8:25 PM #406452
    paramount
    Participant

    I tried to refinance under the Home Affordable Act via Wells Fargo (my current lender).

    They gave me the bums rush out the door because at one time I had PMI (no, not PMS).

    They can recover losses through PMI, so there is no motive to help those who have or had PMI.

    May 26, 2009 at 11:51 PM #406591
    Crooked_Banker
    Participant

    [quote=Oxford]
    “Fortunately, this not a FNMA requirement. Therefore, other Banks can approve your loan.”

    How stupid? Anyone ever heard of this?

    OX

    [/quote]

    The stupid part of this is that my tax dollars are subsidizing the mortgage on your rental through FNMA. What a waste of tax money in a time of unprecedented deficits.

    May 26, 2009 at 11:51 PM #406801
    Crooked_Banker
    Participant

    [quote=Oxford]
    “Fortunately, this not a FNMA requirement. Therefore, other Banks can approve your loan.”

    How stupid? Anyone ever heard of this?

    OX

    [/quote]

    The stupid part of this is that my tax dollars are subsidizing the mortgage on your rental through FNMA. What a waste of tax money in a time of unprecedented deficits.

    May 26, 2009 at 11:51 PM #406653
    Crooked_Banker
    Participant

    [quote=Oxford]
    “Fortunately, this not a FNMA requirement. Therefore, other Banks can approve your loan.”

    How stupid? Anyone ever heard of this?

    OX

    [/quote]

    The stupid part of this is that my tax dollars are subsidizing the mortgage on your rental through FNMA. What a waste of tax money in a time of unprecedented deficits.

    May 26, 2009 at 11:51 PM #406104
    Crooked_Banker
    Participant

    [quote=Oxford]
    “Fortunately, this not a FNMA requirement. Therefore, other Banks can approve your loan.”

    How stupid? Anyone ever heard of this?

    OX

    [/quote]

    The stupid part of this is that my tax dollars are subsidizing the mortgage on your rental through FNMA. What a waste of tax money in a time of unprecedented deficits.

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