Investors Buying FHA Short Sales

[Jordynn W.]

We recently learned of Wells Fargo restricting investors from purchasing short sales. Has anyone experienced this with other lenders who hold FHA loans? Is there anyway around it?

[Scott Hubbard]

When FHA, Fannie Mae, and Freddie Mac are the investors, the servicer, in this case WF, will be required to no longer accept third party POF's.

They are especially strict on these POF's when the RE investor is using an entity to purchase the property.

This is not that much different on REO side as well.