DUE TO POLICIES SET FORTH BY FREDDIE MAC lender are not accepting anymore transactional funding letters.Have any one of you have any way to circumvent this?
Hi,
Yes, I have used a regular mortgage lender approval, set the contract up for regular closing and substituted lenders a day or two before closing. As long as your using a title escrow company you should be able to contract with the regular mortgage lender approval and then substitute loans.
Just make sure you clue the escrow officer into a potential switch and make sure you get everything needed for your other lender to step in and close on the same day as agreed.
GR