Is there a way I can contest the endorsement date of a loan?
After watching the Obama mortgage plan last month I called my broker to see if my 5% FHA loan can qualify.The main thing I am finding is that the previous refi has to be done before May 31st 2009.I refinanced in March 2009, my FHA case # assignment was April 9th. When I called Wells Fargo they said that my loan was endorsed on July 24, 2009.So I do not qualify.I called the HUD and they said that is because banks sit on loans and send them in to be in all at once. Pretty much my loan sat on someones desk for 4 months and this is why I do not qualify.Is there a way I can contest the endorsement date of a loan? by paulab_294_284 from Philadelphia, Pennsylvania. Apr 4th 2012
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
Sadly, you cannot... it's solely up to the lender and their process/procedure as to when they present your file to FHA for endorsement.. If the loan was foreclosed prior to their endorsement, they would not be insured, so I would think the quicker the better, but again it's in their hands.. WilliamAcres.com
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