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North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Fannie Mae Lists Changes for Resale-Restricted Properties

March 29, 2006

   Related Information
Fannie Mae Guide Annoucement 06-03
Changes for Resale-Restricted Properties [pdf]

Guide Announcement 06-03, from Fannie Mae expands eligibility requirements to purchase mortgages secured by properties subject to

  1. purchasing mortgages secured by properties subject to resale restrictions when the resale restrictions survive foreclosure or acceptance of a deed-in-lieu of foreclosure;
  2. permitting the loan-to-value (LTV) ratio to be based upon the appraised value without resale restrictions, instead of the lesser of the sales price or market value, for mortgages when the resale restrictions terminate automatically upon foreclosure or upon the acceptance of a deed-in-lieu of foreclosure;
  3. permitting required third-party notifications for mortgages secured by properties subject to resale restrictions;
  4. including nonprofit organizations, universities, and employers as eligible subsidy providers that can sponsor resale restrictions; and
  5. allowing lenders to deliver mortgages secured by community land trust properties to Fannie Mae without special approval.

Source: Fannie Mae

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