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My Florida Regional MLS is pleased to announce that Fannie Mae has revised the recently launched Short Sale Assistance Desk submission guidelines.  These new guidelines are intended to assist REALTORS® with obtaining the necessary approvals for short sale properties if the loan is backed by Fannie Mae.

Help can now be as few as 20 days away!

 Please review the following NEW guidelines and remember that all information regarding the Short Sale Assistance Desk can be found by visiting www.mfrmls.com/ssad.

Submission Guidelines

Real estate professional must first make a reasonable effort to resolve the issue by working through the servicer.

  • Real estate professional may submit the case in the event the servicer has not provided:
    • an initial response within 20 days,
    • a final property valuation within 30 days,
    • a final decision or specific direction to facilitate a decision within 60 days from the original offer submission date,
    • or, if the real estate professional has received an approval from the servicer for the transaction, but either the mortgage insurer or second lien holder has imposed a closing condition that is not possible for the borrower to meet.
Last Updated ( Monday, 30 August 2010 12:57 )
 
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