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Fannie Mae, in cooperation with participating MLSs across the nation, recently developed the Short Sale Assistance Desk to assist real estate professionals with handling issues that may arise following a short-sale offer.  Post-offer short sale issues may relate to servicer responsiveness, the existence of a second lien, or those involving mortgage insurance.

The Assistance Desk will collect and submit information to Fannie Mae using a dedicated submission form on the member’s MLS Web site.  The form then is submitted to Fannie Mae with data to help improve valuations and make quicker decisions regarding short-sale requests. 

The Assistance Desk is designed to assist real estate professionals in cases where the standard approval channel has slowed down, and where Fannie Mae’s intervention may serve as a means for progress towards a resolution.  The Assistance Desk is not intended to replace the standard approval channels, nor is it intended to serve as a compliance or enforcement function, or as a potential appeal for decisions the real estate professional believes to be unfavorable. 
REALTORS® who would like their MLS to take advantage of the Short Sale Assistance Desk, should contact their MLS directly.

Posted by John Meyer on September 2nd, 2010 10:42 AMPost a Comment (0)
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