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denied for repurchase?

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Icon Mini Profile mcbride301





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Post Posted: Thu Oct 22, 2009 6:12 pm    Post subject: denied for repurchase?
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We were approved for LOAN MOD with lender, FANNIE MAE responds DENIED for "repurchase". We are awaiting the denial letter for some insight. Will contact lender tomorrow for more details. Anybody heard of denied for "repurchase"?
Icon Mini Profile mrripper





Joined: 22 Oct 2009

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Post Posted: Thu Oct 22, 2009 6:34 pm    Post subject:
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Fannie Mae is your lender?
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Icon Mini Profile mcbride301





Joined: 22 Oct 2009

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Post Posted: Thu Oct 22, 2009 6:39 pm    Post subject:
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YES
Icon Mini Profile mcbride301





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Post Posted: Thu Oct 22, 2009 6:41 pm    Post subject: WAIT -
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FANNIE MAE IS NOT THE LENDER, BUT THE INVESTOR. MY LENDER STATED I WAS RECOMMENDED FOR MODIFICATION, FANNIE MAE RESPONDED - DENIED DUE TO "REPURCHASE" - ANY CLUE WHAT THAT MEANS?
Icon Mini Profile manoj_gopale
manoj_gopale




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Post Posted: Thu Oct 22, 2009 6:46 pm    Post subject:
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it is lot more confusing that you are gettin financed by fannie.(lender) anyway!! I think they are referring to the fact towards repurchase of same house by the same owner may be through some other means....

keep in touch....
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Icon Mini Profile mcbride301





Joined: 22 Oct 2009

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Post Posted: Thu Oct 22, 2009 6:51 pm    Post subject:
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working with lender on repayment schedule now - however confused that lender recommended and FANNIE MAE denied...
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Post Posted: Thu Oct 22, 2009 8:44 pm    Post subject:
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In my opinion, your best bet would be to contact the lender to know about the "denied for repurchase". He will be the best person to let you know about it.
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Post Posted: Thu Oct 22, 2009 8:51 pm    Post subject:
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yep - that will be today - thanks.
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