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I want as many scams to be exposed as possible, as well as drill home the importance of doing your research before responding to any letter, email, etc. As mentioned above, you can contact Fannie Mae safely and directly on their website if you have any questions or concerns. .zip Form 1209: Green Retrofits Certification 1/19/2021.pdf Form 1301: Diverse Borrower Questionnaire 4/15/2021.pdf Form 1302: Diverse Borrower Certification 4/15/2021.pdf Form 6011: Waiver of 50-page Limit for SBL Appraisal 6/27/2019 To view this form, download and open the form in Adobe Reader Fannie . Fannie Mae and Freddie Mac also have differences in lending requirements and programs. Try calling your lender at the number on your mortgage statement (NOT in that letter) and see what they say. Fannie Mae buys loans from lenders A lender is a financial institution that loans money directly to you with the expectation that it will be repaid with interest. This is your one-stop encyclopedia that has numerous frequently asked questions answered. Please be advised that ProFed does not represent the third party or you (the member) if you and the third party enter into a transaction. Fannie Mae's "RefiNow program aims to lower the interest rate homeowners pay on their mortgage, and, therefore, the amount they pay monthly. Homeowners are advised to take advantage of a new Mortgage Stimulus Program before its gone. Lender Letter (LL-2021-02) Updated: May 4, 2022 To: All Fannie Mae Single-Family Servicers This is a question our experts keep getting from time to time. and contain the line "Notice of FNMA Enhancement." The eligibility criteria for this refinancing include: Its now easier for more lower-income homeowners to take advantage of historically low interest rates and save on their monthly mortgage payments. hbbd```b``"WH uX," ``r5Bz^ 9&WM D ] REH2j` RHONw ;~ The difference between a FHA and Fannie Mae loans are that the FHA insured loan is a loan by The US Federal Housing Administration mortgage insurance backed mortgage loan that is provided by a . Freddie Mac released a pair of enhancements. This is NOT a secured email transmission. Just got a letter from my mortgage administrator, Fannie Mae backed mortgage, saying that I may qualify for a $3000 payout, lower monthly payment and shorter term due to FNMA enhancements. and contain the line "Notice of FNMA Enhancement." The letters ask you to call 1-833-782-0648 and warns you to call before a certain date to secure economic benefits. The loan is made by a financial institution or other lender Its always good to double check, especially if your transaction involves money. This Stimulus Program is aimed to help average American citizens and stimulate the economy. I bet that event puts my name and address in a public record and on a list that can be purchased. (adsbygoogle = window.adsbygoogle || []).push({}); Your email address will not be published. Fannie Mae makes money partly by borrowing at low rates, and then reinvesting its borrowings into whole mortgage loans and mortgage backed securities. June 7, 2022 . Fannie Mae can be reached at 800-232-6643 or Fannie Mae's website. In fact, Fannie Mae expanded eligibility for their RefiNow program back on June 5th 2021. No matter what financial questions you have, we're here to work with you on your terms. Share: Fannie Mae and Freddie Mac are government-backed mortgage companies created by the U.S. Congress. By accessing the noted link you will be leaving ProFed's website and entering a website hosted by another party. Thanks for the post. Have a great day and thanks for your thoughtful comment! JFQ is trying to get you to refi with them. ProFed reminds customers that their mortgage information is public record, which means anyone can search and discover information about your mortgage, including scammers. I've been getting nonstop predatory refi offers on a weekly basis this year. That way you dont take a chance of being scammed or giving your personal information to the wrong person who could use it to do you harm! (yo|PcRhHM-c!cHF.* e;Z!jGjvY3hU>Js;3ZM=>*!Yto;XIj"hkx0xQ1R#ff[elv*~cyMtq-M? Because we are in a world where there is so much desperation, I am relieved that there are places to see that these things are scam. Lender Letter LL-2021-03 - Impact of Covid-19 on Originations February 15, 2023 Lender Letter LL-2021-03 - Impact of Covid-19 on Originations This Lender Letter provides reminders and temporary flexibilities to support mortgage originations. I hope it helps others avoid getting scammed! It looks like nothing was found at this location. Thanks for your comment! Enhancements indicate positive changes, which Fannie Mae is always making. If you get a notice of an FNMA Enhancements letter that offers you some loan, then please watch this video because it could be a scam! yup. Home; About Us. Subject: Lender Letter 2 1-02 - Loan Document Update . Wow, the letter is practically the same letter I got! XA;3Pr#ASX x~[Vy # ^y*xgIAx.;Ix>T<>ui/&q^f7uQ]!hDY8YZ`&RY1PVo5+$;/#/r6OOg#Pt'iP4/_nf. If you search for notice for FNMA enhancement, youll get a lot of scam warnings. It is important to note that both JFQ Lending and Intercontinental Capital Group Inc. are legitimate companies, but they are not the ones behind the FNMA Enhancements mortgage notices that are being sent to you. This allowed many homeowners to reduce their monthly mortgage payments by locking in a lower interest rate. They are the same. Any aggressive enhancements made to Fannie Mae eligibility will always be listed on their website, as well as information on whether you qualify or how you can take advantage of these enhancements. Freddie Mac can be reached at 800-373-3343 or Freddie Mac's website. Most conventional loans are backed by mortgage companies Fannie Mae and Freddie Mac. Scammers can get your contact information by searching through these records. I agree with this advice and it applies to ALL things. People may receive compensation for some links to products and services on this website. I appreciate the info. MBS for Bonds Fannie Mae MBS: issued to . MBS Overview Creating a single-family MBS begins with a mortgage loan. The other major reason sellers don't like FHA loans is that the guidelines require appraisers to look for certain defects that could pose habitability concerns or health, safety, or security risks. The property must be a one-unit primary residence including single-family residences, townhomes, and condos. These may not qualify as full-fledged scams but they're still deceptive marketing. Law Offices of Gerstenfield & Demirji, PC Our ESG strategy builds on our mission to facilitate equitable and sustainable access to homeownership and quality affordable rental housing across America. @ >/Metadata 29 0 R/Pages 722 0 R/StructTreeRoot 48 0 R/Type/Catalog/ViewerPreferences 748 0 R>> endobj 726 0 obj <>/MediaBox[0 0 612 792]/Parent 722 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 727 0 obj <>stream Freddie Mac buys home mortgages, primarily from smaller banks and savings and loans. It also lists resources we offer to inform and assist you, especially if you ever have a financial hardship or need help recovering from a natural disaster. Thanks! View more posts about Credit Union Updates. Another name you most likely know this organization by is Fannie Mae. ?/fG_X$d#evUd:ev]|oXTtvS^\TzlWR4?BPF8\iS1TRm>'@xa6aG25N&/p > aa-QXj v Frge:XEX@D7f(a p*s:5Zndm>lTMm5=.uZ,ob'T$XX$b@yI4%Hq%-;d9-F4mex|s2}-b|R-D6OkkS16llh6]B~%|d(ISnlnkr? %%EOF What is One Benefit of Privately Issued Student Loans. FHA loans allow lower credit scores than conventional mortgages do, and are easier to qualify for. Fannie Mae will be implementing the following enhancements to DUS Disclose on January 29, 2021: The following new fields will be added to DUS Disclose: To assist market participants with the transition to these enhancements, we are providing the updated file layouts for the following files: If you have questions about DUS Disclose or the upcoming enhancements, please contact Fannie Mae's Investor Help Line by phone (1-800-232-6643) or by email. For the most recent reporting period, the total quantity of electricity generated annually by the existing onsite electricity generation system (measured in kBtU). endstream endobj 728 0 obj <>stream If you haveany questions or concerns regarding the letter, weencourage youtocontact us directly. We have reviewed severalof these letters and can confirm it is a scam. Fannie Mae is tightening the underwriting criteria for second homes and investment properties, the government sponsored entity said in a letter to sellers on Wednesday. ~L+w&7K5)1M~2L!v"%P\`X0IrmxA"@c|8dbnu`!*O2d(g19{V+z *gzQ;7QD>+9m U@0K.2"q7Cx"86 Bf"f'MHPwr/IYB]\`X; Ad8v9WK WM?DjxvA0H1TNVfkXSHffZ)% pj1774H'7Tl wpg>v%|m}SXy 2Y{[ 4bI5Ux| ^#%$HJM_f WyBSbxzu}9J^bs6jg`g3iW#t|+zd{i0q"3&Nge},2XRYS,R ho{dlrgejjfyKKL4C9F1]WEbX1QBj ch($L8+0Q$'~l6-U1;S|PhKObBKTMDr]D^D |jo'PchOhGLyg$s4|wIbHo&TcU O$ w3>#ZPuC^yFq.Y6mr}8LTE! , 0 Note: Due to the number of homeowners positively affected by these changes, call volume may be high. They provide liquidity (ready access to funds on reasonable terms) to the thousands of banks, savings and loans, and mortgage companies that make loans to finance housing. The bottom of the letter states that, "This is a third-party offer from JFQ Lending, Inc.". Ilocated others online who received the exact same letter, but with a different financial institution listed at the bottom. endstream endobj startxref Fannie Mae says that conventional loans typically require a minimum credit score of 620. ProFed members are reporting thatthey havereceivedletters in the mail telling them to call a numberregarding their mortgage before a certain date to benefit from a cash disbursement, shortened payment term, or lower mortgage payment. Banks do not want homeowners to know about these programs as they can greatly lower mortgage payments through this simple Government-backed solution. You can find the real contact info for JFQ Lending and Intercontinantal Capital Group Inc. on their company websites if youd like to find out what programs they offer, but dont expect these programs to be the false promises that are in the letter you received. Providing a $500 credit from Fannie Mae to the lender at the time the loan is purchased if an appraisal was obtained for the transaction. Please also note the account number in the letter does not match your account number with ProFed, indicating a scam. [Vf0K0Yo|e;I& k EP$wIGi1[Fphf! Yeah, trying to discern whether or not this is a legitimate thing that Im entitled to, or some marketing racket. This. When determining eligibility criteria for the Fannie Mae Flex Modification, the mortgage loan must not have been modified three or more times previously, regardless of the mortgage loan modification program or dates of prior mortgage loan modifications. Welcome to Sharing Culture!