MI Short Sale Approval

Transactions that require Mortgage Insurance Short Sale Approval are often more difficult as you will need an offer that meets their guidelines and the investors as well. The Mortgage Insurance (MI) and the investor may not always see eye to eye. The MI company will analyze the offer and the potential claim amount they would have to pay out if the property went to foreclosure. We have seen in the past MI company’s not approve short sales as they would take less of a loss per a foreclosure. MI company’s have very strict guidelines and are often a tougher opponent than the investor themselves. It’s very tough to escalation at a MI company, but it is possible. If a short sale is issued MI approval the chance of them being approved for the short sale by management or the investor is extremely high.

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