I believe it's some sort of streamline HARP.Going from a 5.125 15yr.

Cities also will be able to get "real time" access to the bank's real estate owned (REO) property lists through a dedicated Web site.Mary Ellen Podmolik Mary Ellen Podmolik Bio | E-mail | Recent columnsIn many respects, it is an extension of the "first look" and "bulk purchase" programs that the National Community Stabilization Trust has already established with large lenders.Also, communities will be able to buy multiple properties in a single transaction and Bank of America will designate one employee as the "point person" for a community, in an effort to streamline the process.Theoretically, that should speed the process of moving foreclosed homes from banks to developers and homeowners, something that would be a win for the bank and for communities."

It will be a while before lending regs loosen and then the cycle will begin anew.I also have a few friends in loss mit at a very large bank who still haven’t done one of the supposed streamline mods Obama and company say will really help people.

That way, instead of the underwriting process taking several weeks (as they'd have to underwrite both you and the deal), the process can be streamlined (since they've already underwritten you).Just make sure they aren't asking for any payment upfront -- that's a BIG RED FLAG.As for why you're being asked for so much, I presume it's all the standard information that any professional lender would ask for -- credit report, P&L, balance sheet, tax returns, proof of income, proof of assets, etc.Are they asking for anything that is out of the ordinary?

I'm in a rural area and have found that just that one lender (after calling around to multiple, multiple lenders) - and that one lender has experience doing just ONE 203K Streamline. 

At some point in time (when you acquire a good amount of properties), you might switch to using a PM to free up more time and to streamline your overall process.

Looking to judge merits of going this route, how easy it is to attain (i.e. what rates to expect from bank, what Loan-to-Value likely to get from a bank, how this impacts Private Mortgage Insurance, how streamlined the process is, etc), so as to help determine whether this makes sense versus a Home Equity Line of Credit, or just selling the property and reinvesting the cash, avoiding the tax of doing the sale by assuming the property I'm selling is either my primary residence or an investment 1031 exchange (in my case, both apply, with different properties)Thank you!

Regular and streamlined.

As a new investor and currently taking bids for a 203k streamline loan, I didn't go with the undercut bid for a septic system.

I also saw that you want to streamline your process as much as possible for acquiring and managing property.