Join us for one of six Member Outreach Meetings, part of our CAR2U program. FREE exclusively to C.A.R. Members, we come out to your neck of the woods and offer a unique session to help educate you on what's happening at C.A.R., news impacting your industry, and how to be more effective and profitable. It's the Chicago Difference. Come to as many sessions as you like, or simply join us for the ones most convenient to you. Speakers will engage the audience with the current must-know items of today's market, as well as information to share with fellow agents and your clients. Morning sessions include a continental breakfast and evening sessions include hors d'oeuvres and refreshments. It's our pleasure to bring CAR2U through our Member Outreach Meetings - we hope to see you. Register Today!

1. Chicago Association of REALTORS®
Home Affordable Foreclosure Alternative
www.MarkiLemons.com

2. Focused on Real Estate!
Marki Lemons
Speaker
@Marki_Lemons
http://www.linkedin.com/in/markilemons
#CARMO

3. S I M P L I F Y I N G T H E D I F F I C U LT
10/13
3
ADPR
www.adprnetwork.com

4. S I M P L I F Y I N G T H E D I F F I C U LT
4
ADPR
www.adprnetwork.com

5. Alarming Statistics
S I M P L I F Y I N G T H E D I F F I C U LT
The rate of foreclosure remains high.
5
ADPR www.adprnetwork.com

6. S I M P L I F Y I N G T H E D I F F I C U LT
6
ADPR
www.adprnetwork.com

7. What is a Short Sale?
S I M P L I F Y I N G T H E D I F F I C U LT
A short sale occurs when a lender is
willing to accept less than the full
mortgage pay off.
7
ADPR www.adprnetwork.com

8. S I M P L I F Y I N G T H E D I F F I C U LT
Short Sale
8
ADPR Home Affordable
Foreclosure Alternatives
www.adprnetwork.com 2-3

9. S I M P L I F Y I N G T H E D I F F I C U LT
No occupancy requirement
for HAFA eligibility
9
ADPR www.adprnetwork.com

10. Payment on 1st Lien Does Not Have To
Exceeds 31% of Gross Income S I M P L I F Y I N G T H E D I F F I C U LT
• Includes: Gross Income:
– PITI Includes All Income
– Flood Ins., Condo Assn Fees & HOA
Fees
ADPR
• Does not include:
– Mortgage Insurance
– Sub. lien payments
10 www.adprnetwork.com 2-27

11. S I M P L I F Y I N G T H E D I F F I C U LT
• $3,000 cash to seller
• Foreclosure suspension
• Liability release
• No notes or $$$ contributed
ADPR
• More $$$ for 2nd liens up to $8,500
• Pre-approved short sale
• Deed-in-lieu possible with $3,000
11 www.adprnetwork.com

12. Credit
S I M P L I F Y I N G T H E D I F F I C U LT
 The requirements in Section 11.2, Chapter IV of the
Handbook related to credit bureau reporting of HAFA
transactions are amended as follows:
 If the real estate is sold for less than the full balance owed
and the deficiency balance is forgiven, report the following
ADPR
Base Segment fields as specified:
 Account Status Code = 13 (Paid or closed account/zero
balance) or 65 (Account paid in full/a foreclosure was
started), as applicable.
12 www.adprnetwork.com

13. S I M P L I F Y I N G T H E D I F F I C U LT
13
ADPR
www.adprnetwork.com

14. S I M P L I F Y I N G T H E D I F F I C U LT
FHA Fannie Mae/Freddie Mac
 2 yrs BK  4 yrs BK
 3 yrs Foreclosure  2 yrs Short Sale
 3.5% Down  4 yrs Deed-in-Lieu
 FHA-580 Minimum  5 yrs Foreclosure
ADPR
 Lenders 620  10% Down
Minimum  680 FICO
 Investor=7yrs
14 www.adprnetwork.com

15. S I M P L I F Y I N G T H E D I F F I C U LT
15
ADPR
www.adprnetwork.com

16. S I M P L I F Y I N G T H E D I F F I C U LT
• Standard forms
• No $$$ contribution
• No last minute
ADPR
commission negotiations
• Quicker approval or denial
• Listing remarks
16 www.adprnetwork.com

17. S I M P L I F Y I N G T H E D I F F I C U LT
 1-4 family
 $729,750 balance (SFR)
 1st position loans
 Originated on or before 1-1-09
 Payment on 1st loan does not have to exceed
ADPR
31% of gross income
 Hardship
 Delinquent or default reasonably
foreseeable
17 www.adprnetwork.com

18. S I M P L I F Y I N G T H E D I F F I C U LT
 Pre-approved short sale
 Specified time lines
 Commissions protected
 Full release of liability on 1st and
ADPR
subordinate loans
 Foreclosure sale suspension
18 www.adprnetwork.com

19. S I M P L I F Y I N G T H E D I F F I C U LT
 Payment forbearance or reduction
 $3,000 to Seller
 Servicer incentives
 Up to $8,500 for subordinate lien
ADPR
holders
 Investor reimbursement for
subordinate lien releases
19 www.adprnetwork.com

20. S I M P L I F Y I N G T H E D I F F I C U LT
 All servicers in HAMP
 1st mortgages
 Servicers establish policies based
on investor guidelines
ADPR
 Investors in non-GSE loans may
not approve HAFA short sales
20 www.adprnetwork.com

21. S I M P L I F Y I N G T H E D I F F I C U LT
Fannie & Freddie
Are the investors
ADPR
Establish separate guidelines
21 www.adprnetwork.com

22. S I M P L I F Y I N G T H E D I F F I C U LT
 Potentially eligible borrowers
must be considered for HAFA:
 Prior to commencing
foreclosure
 Before foreclosure sale is
conducted
22
ADPRFor non-GSE loans:
Pursuant to servicer’s policy
www.adprnetwork.com

23. S I M P L I F Y I N G T H E D I F F I C U LT
Servicer Must Consider Borrower for
HAFA… Within 30 days from date the
borrower:
– Does not qualify for trial
modification
ADPR
– Does not complete trial
modification
– Is delinquent on modification
– Requests a Short Sale
23 www.adprnetwork.com

24. S I M P L I F Y I N G T H E D I F F I C U LT
Considered for HAFA if requested
24
ADPR www.adprnetwork.com

25. Forms S I M P L I F Y I N G T H E D I F F I C U LT
25
ADPR www.adprnetwork.com

26. S I M P L I F Y I N G T H E D I F F I C U LT
 Vacant up to 90 days prior to:
SSA or
Alt RASS and
 Job transfer or new employment
ADPR
 100 miles or more and
 Not purchased another home within
previous 90 days
26 www.adprnetwork.com

27. S I M P L I F Y I N G T H E D I F F I C U LT
Imminent default evaluated by
servicer based on borrower’s
debts, expenses, income & assets
27
ADPR www.adprnetwork.com

28. S I M P L I F Y I N G T H E D I F F I C U LT
1 Unit: $729,750
2 Units: $934,200
ADPR
3 Units: $1,129,250
4 Units: $1,403,400
28 www.adprnetwork.com

29. Supplemental Directives & Announcements
• Supplemental Directives
• US Treasury
• 28 Updates
• Announcements
• Fannie Mae

30. www.makinghomeaffordable.gov S I M P L I F Y I N G T H E D I F F I C U LT
30
ADPR www.adprnetwork.com

31. S I M P L I F Y I N G T H E D I F F I C U LT
31
ADPR
www.adprnetwork.com

32. S I M P L I F Y I N G T H E D I F F I C U LT
32
ADPR
www.adprnetwork.com

33. eFannieMae.com
S I M P L I F Y I N G T H E D I F F I C U LT
33
ADPR
www.adprnetwork.com

34. www.freddiemac.com
S I M P L I F Y I N G T H E D I F F I C U LT
34
ADPR www.adprnetwork.com

35. S I M P L I F Y I N G T H E D I F F I C U LT
35
ADPR
www.adprnetwork.com
MarkiLemons.com
35

36. NEW! Awesome Video Card
S I M P L I F Y I N G T H E D I F F I C U LT
HAFA
LANGUAGE
ADPR
QR Code Call to Action
36
36 www.adprnetwork.com
MarkiLemons.com

37. A card that converts to video with QR
S I M P L I F Y I N G T H E D I F F I C U LT
37
ADPR www.adprnetwork.com
37

38. Door Hanger-Same Script
S I M P L I F Y I N G T H E D I F F I C U LT
38
ADPR www.adprnetwork.com

39. S I M P L I F Y I N G T H E D I F F I C U LT
Marki Lemons
Speaker
@Marki_Lemons Thank
http://www.linkedin.com/in/markilemons
You.
ADPR
#CARMO
39 www.adprnetwork.com