Must be hard living in your paranoid world. I understand you think people are out to get you since Fever outed your game with the locals there.
I didn't say you were "out to get me." I simply exposed you for being a lying crybaby with your claim that you were just trying to be nice and give some advice. In reality, you were making multiple jabs/accusations. Liar.
Primary or secondary residence. You say you have done this three times, so at least one of your properties wouldn't meet that criteria.
Wrong. You may be setting a record for the most times somebody has been wrong in a thread.
I have done quit claims three times. I didn't say that I have "done this" - referring to the immediate transfer of deeds after purchase under my name - three times. In other words, one of them could have been not immediate, purchased from one LLC and quit claimed to another, etc.
You've been wrong numerous times in this thread, and instead of just admitting that 1) yeah, you were being a dick in your first post and 2) you were extremely wrong with your false claims, you're continuing to dig your hole deeper with more bogus claims.
12 month residency requirement. You haven't had either Utah property that long.
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This is one reason why you make so many mistakes: you're awful at reading comprehension. Go back and read what I quoted from a source earlier in this thread which you're now responding to. Here, I'll post it again:
Conforming loans sold to Fannie Mae after June 1, 2016, may be transferred into an LLC after closing, provided that: (1) the original borrower holds a majority and controlling interest in the LLC; and (2) if the loan is on a primary residence or second home, the 12 month occupancy requirement contained in the security instrument has been met.
I have given you a huge hint by emboldening the key provision here: if the loan is on a primary or second home, the security instrument is basically waived. Well, does that automatically mean that a third home (either for an individual or used as a rental property) has to have those same restrictions? No. Let show you that:
Exempt Transfer of Ownership
a limited liability company (LLC), provided that
- the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and
the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).
https://servicing-guide.fanniemae.c...1/What-is-an-exempt-transfer-of-ownership.htm
What does that mean? It means that an investment property (such as having a renter in a Florida property for the past four years, using a property in a resort town for Air BNB, etc.) does not have to abide by the security instrument (12 month occupancy requirement).
In other words, you continue to prove that you have absolutely no fvcking idea what you're talking about. Again, if you didn't act like a hypocritical, whiney bitch and pretend that you were trying to be a good guy in your first post, I would have simply shown you how you were wrong and not embarrassed you to this extent. But you chose to be dishonest, tried claiming to be the good guy, and tried making me look like I was a dick after your allegation of criminal wrongdoing by me, your jab about Google, etc.
They made a quiet change in November. Okay, haven't been in banking in awhile, missed that.
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Again, reading comprehension. That wasn't a "change in November" in the way you're presenting it. It was a change in November of 2018, so well over a year ago.
And if you "haven't been in banking in awhile [sic]" (you should use two words for "a while" in this usage, not the one that you incorrectly attempted), you should know to not make criminal allegations/take jabs in something you are clueless about.
Additional comment. You posted info directly indicating you researched it on the Internet. So my google as legal counsel comment was appropriate. I was a little surprised that a high roller like you doesn't have an attorney on retainer.
See, you're wrong again. My posting of links doesn't mean that I researched it with Google on my own before doing it. It's simply me proving that you've consistently been wrong with every fvcking attempt you've made in this thread. How else would I prove that you're wrong the easiest on here? Yes, by providing links showing that you're wrong. That doesn't mean my extent of research while doing these transfers consisted of just Google.
But the fact that you think I did just that - yet am still schooling and educating a numerically challenged banker who claims to be an expert on this - makes me wonder why anyone would have paid you money for your "expertise" when somebody could have gotten correct answers within minutes from Google instead of spending hours and money getting incorrect information from you.
You've been absolutely buried in this thread - as much as the other threads you have ran from recently where you got buried for providing false information.
You can claim that I am just a dick, but to anyone who has read this thread, they can easily see that you were the one who started that with your criminal allegation and jabs. Then, those same people can see you being a hypocritical bitch by trying to lick your wounds after getting exposed and claiming you were just trying to be the nice guy. After repeated changes of your argument, instead of just accepting you were wrong about all of them by making excuses ("it was a quiet change," "I've been out of banking for awhile" [sic], etc.), you continued trying to find ways that I was wrong . . . and you failed in every fvcking one of those.
At some point, you should just accept that you've been utterly dominated in this thread with your bogus attempts, stop with your dishonesty, and accept that you're wrong . . . just like in the other threads you cowardly ran from.
The best part which is what your feeble mind can't grasp - even though I have shown you how every single one of your claims (which there have been many) is wrong according to Fannie - is that you're under the assumption that all mortgages are under Freddie or Fannie, and that simply isn't true. In other words, even if any of your claims were valid (which as we see, not a single one has been), that would be only under the assumption that they were Freddie or Fannie secured. But since you've been wrong on every single one of your claims, I have played along under the same assumption to expose you as being clueless even more.