Tampa Bay Loan Officer Invited to Speak at the National Credit Reporting Association Conference

Oct. 26, 2012 - PRLog -- Ms. Marron will be included as a speaker at the National Credit Reporting Association http://www.NCRAinc.org conference on Friday, Nov. 9 at Saddlebrook Resort (one mile east of I-75 on State Road 54). She is a 27 year veteran of the mortgage industry and has been watching many of her clients struggle with long term problems that short sales produce due to bank requirements. She receives phone calls and emails daily from homeowners across the country who feel they are left with no option but to destroy their credit and are desperately seeking another solution.

Ms. Marron has been investigating, for nearly two years, the distressing banking practice of causing homeowners to default.  She has discovered that this practice has been at the expense of underwater homeowners and has been working with Florida State and Federal Representatives, the US Treasury Department, Consumer Financial Protection Bureau and major credit reporting agencies to create solutions to this complicated problem.

Currently, there are 16 million underwater homeowners in this country. Many of these beleaguered homeowners have had good credit and never would have imagined themselves in this position -- now they are facing imminent default and their lenders are telling them they need to be late on their mortgage to qualify for a short sale.  That is changing effective November 1.

“Effective November 1, homeowners will be able to make mortgage payments on time and ten hardships can be used to proceed with a short sale,” said Ms. Marron.

Defaulting on a mortgage has been the common requirement of lenders to process homeowners for a short sale, leaving underwater homeowners with long term credit problems and prolonging their ability to re-enter the real estate market.  Now if they can prove a loss of their job or their business failed, a divorce, or a disaster that effected the property, the new guidelines can help Fannie Mae and Freddie Mac homeowners.

Ms. Marron will be providing information about the November 1 guideline changes at an upcoming conference. The Federal Housing Finance Agency (FHFA) is now promoting new, clear guidelines for mortgage servicers consolidating existing short sale programs into one standard short sale program especially for borrowers most in need.


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