[WSBARP] Federally backed mortgages and evictions

Tue Jan 17 13:16:30 PST 2023

Is a title officer an expert on federal loan programs, and whether a 
particular DOT is included in any such program?  Other than the fact a 
certain DOT form might be used I don't see how they would know, and 
anyone could use any particular form, AFAIK.

Kary L. Krismer
206 723-2148

On 1/17/2023 10:38 AM, Kaitlyn Jackson wrote:
> You might as well just all move to 30 day notices no matter what. 
> /Pinzon /applies to more than just federally backed mortgages. If a 
> tenant receives federal subsidies, then it also applies. There's no 
> clear way to totally determine whether or not a property/tenant is 
> subject to the CARES Act. In court the other day, I watched an 
> unlawful detainer hearing where the plaintiff was sure the property 
> was not subject to CARES//Pinzon, /but the defense attorney used some 
> website that claimed it was (though the website specifically stated it 
> was not guaranteeing accuracy) and the Commissioner said the only 
> person "with knowledge" to provide a declaration was a qualified title 
> officer as part of a title review. So, if a landlord wishes to move 
> forward, then the landlord likely has to line up a title officer to do 
> a search and provide a declaration one way or the other. AND don't 
> forget that evictions take 4-6 months (at least they do in King 
> County), SO there's no guarantee that the loan, even if not federally 
> backed, is not sold during that time period to Fannie or Freddie. So, 
> in that circumstance the landlord would have to start all over at the 
> beginning if that were to happen at any point before the Sheriff 
> executed the writ.
>
> Might as well bypass the whole thing and just move to all 30 day 
> notices while this mess gets worked out by the Supreme Court. /Pinzon 
> /is a mess.
>
> Food for thought - the unlawful detainer statute was created for a 
> quick and efficient way to resolve the issue of possession. It's no 
> longer quick, it's no longer efficient, and it's no longer affordable 
> for many landlords. Some are starting to consider walking away from 
> unlawful detainers and just file full on ejectment cases because now 
> they are likely faster and can resolve all issues more effectively 
> than unlawful detainers can.
>
> KJ
>
>
> On Tue, Jan 17, 2023 at 6:49 AM Kary Krismer <Krismer at comcast.net> wrote:
>
>     If you look at the definition for 1-4 family homes it includes
>     Fannie Mae and Freddie Mac loans, so it would be virtually all
>     home loans except maybe those portfolio lenders like Washington
>     Federal.
>
>     15 USC 9058.
>
>     The same is true of 5 units and above, but I have no idea how
>     common Fannie and Freddie are in those type of loans.
>
>     There are also Internet tools I remember from the financial
>     crisis, but I have not idea used or even thought about those for
>     years.
>
>     https://fhmtg.com/freddie-mac-and-fannie-mae-loan-lookup-tools/
>
>     Kary L. Krismer
>     206 723-2148
>
>     On 1/17/2023 6:23 AM, Annie Fitzsimmons wrote:
>>     Good Morning.  If you've not yet read /Sherwood Auburn LLC v.
>>     Pinzon/, 521 P.3d 212 (Wash. Ct. App. 2022), then reading it will
>>     get your Tuesday-masquerading-as-a-Monday off to a startling
>>     start.  Spoiler alert: based on the CARES Act, all landlords with
>>     a federally backed mortgage must give 30 days notice before
>>     initiating an eviction based on unpaid rent.
>>
>>     Question:   How do you know if a mortgage is a "federally backed
>>     mortgage"?  I know that FHA and VA loans are federally backed.
>>     Aren't there some conventional loans that are federally backed? 
>>     If so, how do you determine if it is or isn't?
>>
>>     Thanks!  Annie
>>
>>     Annette T. Fitzsimmons P.S.
>>     P.O. Box 430
>>     Belfair, WA 98528
>>
>>
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> -- 
>
> Thank you,
>
>
> Kaitlyn R. Jackson, Senior Associate Attorney
>
> Dimension Law Group, PLLC
>
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