Arizona Flips & Conventional Loans

Recently, the lending game has changed with regard to lending for Phoenix area buyers using Conventional financing to purchase a “flipped” home (defined as a change in Title in the past 120 days NOT when owner is Bank, FNMA, FHLMC, HUD or Lender). Here is the short version – most Arizona Mortgage lenders ultimately sold their Conventional Flip loans to Wells Fargo as the end investor/servicer. Wells Fargo recently gracefully bowed out and said “no thanks, we do not want to buy … [Read more...]