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I was not able to close today, because Wells Fargo (HomePath Loan) saw a $1200 fee that Fannie Mae's Asset Management is paid. Wells Fargo is asking for an invoice. This is a contractual agreement so there is no invoice. Therefore, Seller won't sign HUD and Wells Fargo won't approve HUD.
Has anybody dealt with this issue?
Usually on pg 12 line 38 is where one is supposed to put that fee, my AMP told me to put the specific language stating
" Seller agent Bonus $1,200 expire on 10/31/2011"
maybe that would help.
Sellers Agent Bonus
That also, lol
If our Congress would get a backbone they would end Home Path NOW.. it can not with stand the smell test of fairness or market principles. They are further eroding values of equity held homes by offering financing and marketing incentives that do not apply to all properties they finance. The whole idea is to make their FAILED LOANS look better than equity sales. How fair is that?
On my street they did this to a home that they had a short sale offer on, for $270K and they refused it, only to bring the property back on the market at $239K with HOME PATH benefits and then excluded people that could put down 20% for 15 days, some great society we live in .... Our Government is allowing an agency they control to erode property values and hurt the local tax base.. go figure... do we need some new leaders of what?