My bank is rejecting me for a refi because out of 55% shareholder owned apartments there are only 37% shareholder residents. They are sending the loan to Fanny Mae to see if they will approve the loan (at a cost to me). My credit is excellent and all other info is perfect. Here is the catcher — a neighbor just sold her apartment and the buyers got a loan that was just purchased by Fanny Mae. Does this mean that Fanny Mae will “approve” of my loan or do you think they will reject it. I can’t get a hold of the bank form from my neighbor’s sale — the form the management company fills out for the bank outlining ownership % (old management company that is sponsor owned –they burn them!) so I don’t know if the other bank got an honest story of our ownership percentages.<\/p>\n
Anyone have experience with this? Can I push my bank to push Fanny Mae because someone in the building was approved?<\/p>\n
Any advise would be appreciated. And, I know we need a sublet policy, but we are loosing this fight right now. So don’t need to go there! <\/p>\n","protected":false},"excerpt":{"rendered":"
My bank is rejecting me for a refi because out of 55% shareholder owned apartments there are only 37% shareholder residents. They are sending the loan to Fanny Mae to see if they will approve the loan (at a cost to me). My credit is excellent and all other info is perfect. Here is the…<\/p>\n","protected":false},"author":7008,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"schneps_byline":"","schneps_post_style":"","schneps_post_source":"","schneps_syndicated_read_more":"","schneps_post_source_sitename":"","schneps_syndicated_thumb_html":"","schneps_syndicated_thumb_src":"","schneps_post_source_shortname":"","schneps_post_source_url":"","schneps_post_source_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[100],"tags":[],"districts":[],"class_list":["post-50341","post","type-post","status-publish","format-standard","hentry","category-mortgage"],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/brownstoner.com\/forum-archive\/2010\/10\/refinance-probl\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Refinance Problem","url":"http:\/\/www.brownstoner.com\/forum-archive\/2010\/10\/refinance-probl\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.brownstoner.com\/forum-archive\/2010\/10\/refinance-probl\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Mortgage","author":[{"@type":"Person","name":"AnnieJ"}],"creator":["AnnieJ"],"publisher":{"@type":"Organization","name":"Forum Archive","logo":""},"keywords":[],"dateCreated":"2010-10-30T19:41:29Z","datePublished":"2010-10-30T19:41:29Z","dateModified":"2010-11-04T10:59:58Z"},"rendered":"