Tim Rood wrote an interesting post today on
Here’s a quick excerpt
Following the success of an
escalation process initiated in February, Fannie Mae is introducing
another website tool to help real estate professionals close short
sale transactions. Real estate listing agents will now be asked to
register accepted short sale offers with Fannie Mae to provide
greater transparency and to allow the company to work with mortgage
servicers to expedite the sale.
Agents will provide sale
information including property address, MLS listing details,
information about the offer and any subordinate liens on
www.Homepathforshortsales.com. They
will also be asked to upload scanned copies of the sales contract,
the HUD-1 settlement and borrower authorization form. Fannie Mae is
also encouraging agents to reach out to Fannie Mae early in the short
sale process to request list price guidance.
…(read more)
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