Hi Everyone,

Here’s the follow up from Day 2 of our 3 day class.

Some folks asked for information regarding how a short sale, foreclosure, or bankruptcy affects a person’s credit score.

Here’s Ken Harney’s article on credit scores. And here’s Ardell’s blog post as a follow up. She has a nice visual graph for those of us who think in pictures.

Here’s a link to the FBI website with the story about mortgage fraud we discussed during Day 1:

“Leader of $47 Million Mortgage Fraud Scheme Sentenced to Prison
Mortgage Fraud Scheme Used Web of Companies and False Loan Documents“

More tomorrow….

Day 3

Here is the article I wrote regarding Paramount Equity’s Consent Order.

Here’s the article I wrote regarding the FCIC and how I believe they’re interviewing the wrong people.

Someone asked if I had ever been to a foreclosure/trustee sale auction. Well, actually I filmed an auction here in Bellevue recently.

Here’s the link to Neighborhood Watch, where you, too can check your company’s FHA default rate. Follow the link that says “early warnings.”

There was a question as to whether or not a borrower can pay an appraiser directly v. a borrower paying an HVCC company directly. See question 52 of the Fannie Mae FAQ PDF on HVCC:
“Q52. Are borrowers precluded from providing payment for an appraisal to an AMC?

A: The Code does not prohibit a borrower from providing payment to an AMC; however, the borrower may not pay the appraiser directly for an appraisal.”

Remember: Not all loans are sold to Fannie/Freddie and in that case, HVCC might not apply to those loans.

…and please don’t fall for the media hype regarding rates rising. Take a look at another point of view over at Seattle Bubble.