SPEED: Fannie Mae will directly approve short sales

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Fannie Mae is running a new program with a very small group of negotiators to help homeowners wanting to do a short sale. If Fannie Mae owns your loan, then I skip the loan servicer and send the short sale file directly to Fannie Mae for approval. I can get approval in about 3 weeks instead of 2-3 months.

Fannie Mae is expanding the functionality of its HomePath for Short Sales website. The HomePath site is designed to "help real estate professionals efficiently complete short sales and resolve.

HAFA Revision and Fannie Mae Update 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.

 · http://www.shortsaleandloanmod.info Antelope Short Sale Agent and Default Advocate Mike Rigley discusses greentree serviced, Fannie Mae backed escalation sav.

During the quarter, we settled our fifth CRT transaction with a face amount of $933 million, and have begun to deliver loans to Fannie Mae under a. and completed the sale of $42 million in.

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Fannie Mae is committed to preventing mortgage fraud, including fraud perpetrated by any party or parties involved in transactions related to Fannie Mae Short Sales and/or associated with a Fannie Mae REO property. Fannie Mae expects parties in its transactions to consistently and accurately follow both the letter and spirit of all Fannie Mae.

FHFA: Home prices continue climb cfpb launches national mortgage servicing rules cfpb proposes National Mortgage Servicing Rules. On August 10, 2012, the U.S. Bureau of Consumer Financial Protection (the "CFPB") released two proposed rules (the "Proposed Rules") intended to implement the mortgage servicing provisions of the Dodd-Frank Wall StreetThe federal housing finance agency (fhfa) has announced it is raising the. Home prices continued their rise across the country over the last 12 months, with .HAMP loans about to reset at higher interest rates That remains to be seen, but even without the interest increases, re-default rates on HAMP mods have hovered around 40 percent for mods with a 2010 vintage. As of the end of Q3 2014 , the latest data available, HAMP has helped about 1.4 million distressed homeowners receive permanent loan modifications.

For all new short sales in which Fannie Mae is the lender, borrowers will be prohibited from listing their own property. Practically, this change means that all short sale properties now must be listed with a licensed real estate professional who is not the borrower before Fannie Mae will approve an offer.

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I have experience working on Fannie Mae short sales in Sacramento. Here is a sample transaction. Bank of America approved a short sale in early 2012 and sent the package to Fannie Mae for review. Fannie Mae then rejected the short sale because the seller was still making the mortgage payment. So, the following month, the seller decided to not.