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any way to pressure fannie mae to buy my mortgage from my lender so i can harp refi?

does it come down to my lender and their certifications or relationship with fannie mae programs? Dire need of lower payments because my wife was laid off by marcus00smith_80829 from Crown Point, Indiana. Dec 6th 2013 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

unfortunately you cannot force their hand... and realistically, if the file were originally underwritten to Fannie Mae's guidelines, it would have been sold to them right away.. and there's no way to go back now.. Depending on what the terms of your loan are, there are other loan products that might help.. If you have VA benefits available to you, the VA allows for 100% loan to value on a refinance, and VA loans do not have mortgage insurance.. FHA allows for 97,75% LTV but there is MI.. if your underwater, then you'll have to wait till you have sufficient equity to apply, or hope that HARP 3.0 passes congress.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Dec 6th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

No, sorry. It is the same as the lender asking you to sell your home to them at a discount, because they have an employee in your area that needs a home.

Dec 6th 2013
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Robert Hanson (rhanson)
#38 ranked lender in Maryland - 646 contributions

Your loan has to have been purchased by Fannie Mae prior to April of 1009. Even if your settlement date was prior to that, it is the date thatthey endorsed it. Terefore, no matter when your loan was taken out, if they did not purchase it before, having them do so now would serve no purpose. Is this what you were asking? If I have not answered your question I am always happy to assist. If you need more information, a pre-qualification, or a competing rate quote you can go to my web page and use my live support button to discuss anything at all with me in an easier format. Web Address is: http://www.loansfromrob.com/quote/ Email is rhanson@gladewaternational.com and direct phone is 240-752-7549. Good Luck -- Rob Hanson

Dec 6th 2013
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JAMES TERRY (jterry1)
#956 ranked lender in California - 11 contributions

Sorry to hear about your wife being laid off. HARP 3.0 has not passed yet so if Fannie Mae does not own your loan, there is no way to force your current lender to do anything. Although HARP 3.0 is not yet available there are options available to you. Even if your wife is currently laid off, depending on the circumstances, you may not be in as dire a position as you think. Let's talk....get sound advice from an expert in home owner retention. James TerryDirect LenderAmerican Financial Network Inc. 909-996-9714 (Direct)

Dec 6th 2013
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,243 contributions

Difficult sitution Marcus, but as others have said you can't get the loan to be eligible for HARP. Even if it were, generally you would still have to qualify for the new mortgage payment. Your only option to get lower payments is to try and refinance which will require you to have at least a little equity in the home. Or, you can also try talking to your current lender about a loan modification until your wife it back to work. Good luck!

Dec 6th 2013
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Joe Metzler (JoeMetzler)
#18 ranked lender in Minnesota - 3,981 contributions

Fannie Mae and Freddie Mac do NOT do loans. They buy finished loans from lenders after the fact. It it was going to be sold by the lender to Fannie or Freddie, it has to be underwritten to the Fannie or Freddie rules at the time of inception. If your loan was written that way, it would almost always have been sold to them within a few weeks of closing.

Dec 6th 2013
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

The answer is no. Have you tried working with your current lender to see if there is any way for them to work with you? They may be able to offer you a loan modification that may lower your monthly payments. There are pluses and minuses to a modification so make sure you review all of your options with them. Best wishes,

Dec 6th 2013
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Craig Prickett (cpmtgnow)
#160 ranked lender in Florida - 97 contributions

no,, call me for a regular refi 954 558 4430 www.firstfloridafin.com

Dec 10th 2013
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