THE NEW

JACOB SWODECK & KNOLLY WILLIAMS OF MAPS &

WITH SPECIAL GUEST

BRYANT TUTAS
CO-FOUNDER SHORT SALE SUPERSTARS

WHAT WELL COVER TODAY

Are short sales going away soon? Are short sale lease backs possible/legal? Is HAFA over? Whats new with Fannie/Freddie short sales? Is it true there is a new low-doc short sale process in place? Are lender-directed short sale leads an emerging concept?

HOW LONG WILL SHORT SALES LAST?

2.3 million homes represented in Shadow Inventory (7-9 month supply, $376B, down 12% form 2011) (CoreLogic as of Oct 2012) 2.4 million additional borrowers are 30 60 days late and are not included in the shadow inventory numbers. (via LPS Monthly Monitor Report Dec 2012) Est. 440,000 short sales in 2012. 1,000,000 expected in 2013 (Daren Blomquist of RealtyTrac)

One Million Short Sales

One Million Short Sales In 2013?

HOW LONG WILL SHORT SALES LAST?

HOW LONG WILL SHORT SALES LAST?

Other variables adjusting loan mods, lack of inventory and high demand push up values to make up for negative equity in some markets, bulk note sales Twenty-two percent of all residential properties with a mortgage or about 10.7 million home ownerswere underwater by the end of the fourth quarter for 2012, according to CoreLogic data. From September 2011 to September 2012, 1.4 million homeowners had moved from negative equity to positive equity. How will this affect consumer mindset for borderline equity homeowners? Is this an actual recovery or is it fabricated by the powers that be?

ARE YOU READY FOR THE NEXT SHORT SALE WAVE?

www.ShortSaleCommander.com/ssic-60

FANNIE AND FREDDIE MERGE THEIR SHORT SALE PROCESS

Servicer Alignment Initiative Fannie and Freddie drop HAFA Dec 31, 2012 Short sale process merge went in to effect Nov. 2012 Much more streamlined as far as hardship, timelines, and documentation needed 90+ days late, less than a 620 fico score = pre-approved hardship Approved Hardship loans qualify for new low-doc process $6,000 to junior liens 30 days to answer (from receipt of offer) Delegation to decision non-delinquent loans when there is death, disability, divorce, or distant employment (50+ miles) Controversial REO valuation model (projections, zip code, demand, MNR minimum net required)

Peace out Ed DeMarco! (FHFA Director)

MANY BIG HAFA CHANGES FOR NON-GSE LOANS

Via Supplemental Directive 12-07 Effective Feb. 2013 No hardship docs if 90+ days late and less than 620 FICO score (bank pulling credit report early on) Lease back option reaffirmed in new HAFA guidelines (SD-07) No more Treasury HAFA docs required New docs include SSN (Short Sale Notice), ARSS (Acknowledgment of Request of Short Sale), and the HAFA Affidavit 30 day decisions regardless how HAFA was initiated

Are you in the Inner Circle? Join the fastest growing national group coaching community designed to help you maximize todays short sale opportunity. Coaches: Jacob Swodeck and Knolly Williams Weekly coaching calls, and a bonus Ask the Expert call every month. (Founders Club only) Check out our 6 month call schedule! (Start any time) Investment: $99 a month

Access to private SSIC Facebook group

Referrals Live instant support Bank contacts Custom forms Network with top agents Help desk File sharing Ask questions Huge value!

Access to private SSIC Facebook group

Hundreds of downloadable forms Archived call audio- library Scripts (phone and doorknocking) Editable flyers Call handouts So much more!

LENDER-DIRECTED LEADS???
Is it happening yet? What are the challenges? (FDPCA, privacy, etc.) What about DTS and the CHASE Priority Partner Short Sale Program? Wells Fargo launching an exclusive agent network in 2013 Loan recapture is the servicers priority (Retail loan business) Other direct listing lead opportunities

DEPT. OF JUSTICES $25B ATTORNEY GENERAL SETTLEMENT

Went in to effect Feb. 2012 (biggest consumer protection settlement in history) Must be: BofA, Wells Fargo, CHASE, Citi, Ally/GMAC Must not be: Fannie, Freddie, FHA, VA www.NationalMortgageSettlement.com $10B towards Principal Write-downs $7B towards special programs (i.e. Short sales, military, etc.) $3B towards Refi programs, $5B towards settlement payouts to wrongfully foreclosed borrowers

HAFA SHORT SALE LEASE-BACKS FACT OR FICTION?

Via Supplemental Directive 11-02 and 12-07 U.S. Treasury allows for a legitimate non-profit to buy a short sale property under HAFA with the intention to lease the home back to the prior owner National Short Sales created the Short Sale Lease Back (SSLB) program and has closed a few non-arms length short sales with an understanding that the prior owner will lease the home back. Guidelines have been given (finally) for non-profit and program qualifications Long way away from being a mainstream program Search for Short Sale Lease Back on Facebook for more info

Remember to join the Founders Club today!