FANNIE MAE SHORT SALES
(NOTE: To view additional pages of this blog, you must be a poncie.com network friend. Registering is easy and free. Enter your email in the “Subscribe Here” box to the left.) With the increasing of short sales, Fannie Mae is requesting that listing agents register their accepted short sale offers with the GSE.
According to dsnews, Jay Ryan, Fannie Mae Real Estate Sales VP says, “Fannie Mae recognizes the very important role real estate professionals play in the short sale process and we want to work closely with them to get short sales done.” In 2012, Fannie Mae completed over 73,000 short sales.
Through Fannie Mae’s Short Sale Website [CLICK HERE FOR LOG-IN INFO], agents can register their short sale offers and allow Fannie Mae to proactively work with the mortgage servicer to facilitate faster communications. To determine if the existing mortgage is owned by Fannie Mae, use the Fannie Mae LOAN LOOKUP TOOL.
FAQ: Does Fannie Mae assign listing agents to short sales? Fannie Mae does not assign listing agents to short sales. While some servicers may RECOMMEND listing agents, the choice of listing agent is made by the seller. If a seller contacts Fannie Mae, they will tell the seller to contact a licensed real estate agent. That is why you should register to become a HomePath Listing Agent or Vendor. [CLICK HERE TO LEARN HOW]