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SPEED: Fannie Mae will directly approve short sales

Federal regulations state that the appraiser must be impartial and have no direct or indirect interest in the transaction. fannie mae requires appraisers. been dragged down by the sales prices of.

A lot of those "short sales" might be better dubbed "really long and drawn out" sales. New federal guidelines, though, could now push lenders to approve short sales faster. the case of loans.

Fannie Mae and Freddie Mac want to speed up short sales. SPEED: Fannie Mae will directly approve short sales. In the past, Fannie Mae has worked to reduce short sale timelines, expand eligibility for short sales and prohibit servicers from reducing an agent’s commission. Throughout the first nine months of 2012, Fannie Mae completed 58,376 short sales.

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Short sales have a reputation for being, well, kind of a pain in the keister. It’s not uncommon to run across horror stories of the short sale process and timeline stretching out over seven months or more. With that kind of timeline, many buyers shy away from short sales, in spite of the great deals out there.

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A short sale can be a solution to help you avoid foreclosure and may have a less negative impact on credit scores. It may also allow a homeowner to be eligible sooner to buy a new home under Fannie Mae guidelines. In some cases, you may be offered cash out at closing (known as relocation assistance) to help you move to your next home. In order to

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Midwest real estate data (mred) has teamed up with Fannie Mae to provide its brokers and agents with a service designed to shorten the time they have to wait for approval from the GSE on short.

The tool is available to any real estate professional working on a short sale involving a Fannie Mae-owned loan. Once a short-sale case is escalated, Fannie Mae will contact an agent or servicer to resolve challenges, such as valuation disputes, delays by servicers or uncooperative subordinate lien holders.

If you request list price guidance through our HomePath Short Sale Portal, you will receive updates directly from Fannie Mae. This will keep you up-to-date on the status of your request. You can expect a response that will help you make an informed decision before listing the property in a few weeks or less.