Answers (2)
- Justin Sheftell, "Courtesy Mortgage"
- Contributions:4271
Certain loan are considered ineligible due to "Credit Enhancements" that were placed on the loan after it was completed. I never heard of a No Fee Loan being an enchancement, so that part sounds off to me.
I would suggest you try applying at an Open Access lender and have them run your LP (Loan Prospector) findings to see if the loan also picks up as ineligible for that version of the program. I have seen cases where a servicer says a loan is ineligible and those findings say it is (possibly due to poor information from the servicer).
If Loan Prospector also comes back saying ineligible, not much left you can do at that point. Last year the software began approving several loans that had previoulsly been considered ineligible so that update might work to your advantage.
I would suggest you try applying at an Open Access lender and have them run your LP (Loan Prospector) findings to see if the loan also picks up as ineligible for that version of the program. I have seen cases where a servicer says a loan is ineligible and those findings say it is (possibly due to poor information from the servicer).
If Loan Prospector also comes back saying ineligible, not much left you can do at that point. Last year the software began approving several loans that had previoulsly been considered ineligible so that update might work to your advantage.
- Brian Goetz, "bri_gets"
- Contributions:451
unknown restrictions? Well I guess if they did, nobody would be able to tell you about them since they are unknown.
The HARP program is very unusual. A lot of people who fit the basic guidelines are turned down for other reasons.
Does Freddie Mac have unknown restrictions to make a loan not elligible for HARP?
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