Jeff Garrett I work for a Fannie Mae Lender and I am based in Dallas.

. - that wasn't a special Wells Fargo thing, it was Fannie Mae HomeStyle (but Wells is effective at marketing it!).

I was told that it's a Fannie Mae product for investors with less than 9 properties.

Great, we just incurred two additional sets of closing costs and we're back exactly at square one.And that's before even considering how Fannie Mae or Freddie Mac would view this.

Fannie Mae removed the continuity of obligation requirement for rate/term refinances a little over a month ago, and guess where the lowest closing costs are to be found?

They could remain on title, or not, at the end of it (optional: Fannie Mae will loan to revocable living trusts, so you could knock out two birds with one stone here).

Does anybody know if Fannie Mae Home Path have the same exceptions?

Most loans get sold to Fannie Mae or Freddie Mac so most banks try to adhere to their criteria for the most part.

Zillow and here it is at HomepathIt's obvious that someone rehabbed this property, I just don't know why it was foreclosed in August and now it's a Fannie Mae Homepath property?

@Christopher Manus - even better than Delayed Financing (search for Delayed Financing Exception to read the Fannie Mae rules about that) is getting private money with no points at 75% ARV (which usually covers purchase and at least a good chunk of the rehab) - requires networking at REI groups and SDIRA (self directed IRA) meet ups.