Team Thayer Property Servicing

Freddie Mac   announced Thursday  that it sold 157 deeply delinquent non-performing loans (NPLs) totaling about $31 million in aggregate unpaid principal balance (UPB) in its first-ever Extended Timeline Pool Offering (EXPO) sale on June 3. EXPOs differ from Freddie Mac's Standard Pool Offerings in that the loans include smaller pool sizes and a longer marketing period. Freddie Mac is targeting smaller investors with its EXPO auctions, which are intended to give these investors extra time to secure funding to participate in the NPL sales. Freddie Mac  began marketing the pool of loans  on April 21 and encouraged private investors, minority- and women-owned businesses, non-profits, and neighborhood advocacy funds to bid in the auction, subject to meeting bidder qualification requirements. Those requirements include: the bidding servicer must be approved by and in good standing with GSEs; the servicers must prioritize loan modifications over non-home retention ...

Elizabeth Thayer Team Thayer   The home inspection is one of the most important hurdles to clear in a real estate transaction. All real estate agents should attend home inspections! When buying or selling a house, the home inspection is a vital part of the process. What the inspector finds and says during and after the inspection has significant influence on the final sale, so of course it only makes sense for everyone involved – the buyer, the buyers agent and the sellers agent to be there. Yet many times, you will find buyers following the home inspector around with no Realtors in sight. A good agent is an advocate for his or her client, and therefore should be there at the home inspection to represent that client. Whether the real estate chooses to be one step behind the inspector the whole time, or wait quietly in the background to answer the client’s questions, will depend on the agent. But you can always spot a careless or uninvolved Realtor by his or her absenc...

Flipping and refurbishing houses has become all the rage over the past decade. Almost everyone has become an expert on mortgages, refinancing, and remodelling.Introducing the  203K loan . It’s officially known as Rehab Mortgage Insurance; but that’s putting the cart before the horse. Simply, it’s an insured home loan. With the 203k FHA loan y ou have the ability to buy that spec house knowing that your pre-approved loan is going to come with some extra money for repairs. The restoration costs are at least $5,000. Spending that is not a problem these days, It’s an  FHA backed loan  that is insured, so the lender is more inclined to approve it; especially if you have done your homework and have all the paperwork showing the remodeling estimates. Remember, the 203K loan is designed to cover the present value of the house plus the cost of the rehabilitation, or 110% of the appraised value of the property after rehabilitation; whichever is less. ...

A new study from the  Consumer Financial Protection Bureau  found that reverse mortgage advertising can be confusing and misleading, and issued a warning to older Americans to be on the lookout for potentially deceptive reverse mortgage advertisements. In the new study released Thursday, CFPB said that consumers were confused about reverse mortgages being loans, and they were left with “false impressions” that reverse mortgages are a government benefit or that getting a reverse mortgage would ensure consumers could stay in their homes for the rest of their lives. “As older consumers consider reverse mortgage loans to tap into their home equity, they need to be careful of those late night TV ads that seem too good to be true,” said CFPB Director Richard Cordray. “It is important that advertisements do not downplay the terms and risks of reverse mortgages or confuse prospective borrowers. According to the CFPB, the number of reverse mortgage originations is likely to i...