Tag: loan modification

FHA Mortgage Forbearance and Partial Claim Filing

Question:  I have a client who was in forbearance, is presently current, yet now has the past-due payments to contend with.  Their servicer is telling them they qualify for a partial claim and the servicer will file a partial claim with FHA to resolve the past due payments. They also stated that this will have […]

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Waiting Period After Loan Modification

Question: How long do you need to wait to refinance a borrower who did a loan modification for a conventional loan? Answer: I’m not sure I can get you something that tells you specific dates or timelines since this topic was removed. Check out the comments below and then seek out the sections below for […]

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What is the waiting period for a conventional purchase with a loan modification on the borrower’s current residence?

Answer: There is no written or defined timeline from either agency (Fannie or Freddie). In fact, they do not address a modification except for a one that may be needed for construction-to-perm loan. It is not listed as a topic under their significant derogatory credit requirements. The outcome of the ‘timeline’ allowable is most likely […]

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