Pam Marron Home Lending

Coming Out of a Tunnel

Just received the press release from Senator Nelson’s office stating that Fannie Mae will be making a fix to their computer system to correct the erroneous foreclosure code that has resulted in a new mortgage denial for eligible past short sellers. Also read the new Fannie Mae release that will show a simple input after proof of the short sale is received, before the loan is run through Fannie Mae. It is a brilliant way to correct the problem, and allows past short sellers the ability to prove the short sale to their lender prior to running the Fannie Mae underwriting engine!

To say I am the greatest cheerleader of the Consumer Financial Protection Bureau, Senator Bill Nelson, and Fannie Mae is an understatement. This fix will make a difference for millions of past short sellers and millions more that will come after them.

There have been so many that have been along this path, and since this is my website, I am going to publicly thank them all.

To Brian Webster at the Consumer Financial Protection Bureau, who organized all of the parties working on this to come to a brilliant solution, and kept all in check to insure this was a real fix… and to Corey Stone and Richard Cordray, who showed genuine concern about the impact of this problem on consumers.

 To Senator Bill Nelson, who was impassioned about this little known code problem and took it directly to the Senate Committee on May 7th with a challenge to get it fixed in 90 days! Your tenacity to get to the bottom of this was heroic, and your staff, Counsel Stephanie Mickle and Regional Director Shahra Anderson, have been invaluable in quickly getting this handled!

Shahra Anderson…. you are an incredible regional director for Senator Nelson… if it wasn’t for you, data needed and getting the white paper to President Obama’s staff last year would not have happened.

Terry Clemens, Executive director of… the best “mentor” one could ever have … who showed me how to get to the right people from the start as we visited representatives, the CFPB, the U.S. Treasury, and then saw many great places in Washington, D.C. YOU are truly the reason this got this far. I would not have known where to start. I am eternally grateful for all that you have done.

Renee Erickson, Acranet Credit Mgr.…. the most tenacious credit fixer I have ever met! You were that at the start, and you are still helping to get this done at the end! You “got it” from the beginning and introduced me to so many, including your whole National Consumer Reporting Association group!

To my son, Jake, who patiently spent days making the Power Points for, debating with me hours on end so we could make problems into 8 quick videos…. problems too complicated but had to be shown in 90 seconds. I learned how to communicate quicker (and that’s a problem for me!:) by our lively discussion and enjoyed our time!

To Marilynn Dechant, DeChant Public Relations… who proofed my overly detailed writings into press releases and introduced me to so many folks we have engaged with for help, and who has kept me on a positive keel even when it didn’t feel that way.

To Chae DuPont, the best attorney that I know, who helped me to see sides of this problem I could not. Showed me how to qualify people for a modification and a short sale, to know it was approvable at the beginning… PRICELESS.

To Joe Gendelman, Regional Director at National Credit Federation… who patiently found the first solution of an attorney letter requesting a credit downgrade if the loan was not a foreclosure. Joe helped our first two clients two years ago and continues to help folks today.

To Christie Johnson, a realtor with Remax Advantage, who agreed to help with short sellers who want to short sale and stay current, and who just closed the first clients who did so. Christie, we are learning a new path, and I can’t thank you enough for your patience with this. You introduced me to our friends at, a great title company who has also agreed to help us make this new path for short sellers.

To all of my realtor friends and others who have put up with my incessant obsession with this problem. There is an end to this tunnel and I am coming out.

To my wonderful boss, John Kulwicki… who has not questioned when I needed to get a new vendor approved, and just did what was needed so I could keep looking for answers…. Thank You.

To my incredibly patient husband, both of my sons, and my parents…. Thank you for listening even when you did not want to.:)

And most of all… to the many, many past short sellers, and those needing to short sale but terrified of what required late mortgage payments would do to your credit and not wanting to go late in the first place… thank you for sharing your REAL stories with me. Every time a new case was looked at, another problem to be aware of came up.  Allowing that snapshot, and sharing the painful past that so many of you went through and sometimes had to go through again because we needed the information…. I know is the hardest…. Thank You.

August 23, 2012 by · Leave a Comment

About Pam

Since 1985 as a loan originator, highly experienced with automated loan approvals on DU, LP, and with USDA GUS systems, thorough knowledge and use of FHA loans including 203K rehab, conventional loans including USDA, Homepath and rehab, and VA loans. After 27 years, I STILL love this business!

Leave a Comment