Has anyone encountered a short sale where the loan was termed a "Shared Risk Loan"?  I have one with Navy Federal CU and twice the short sale was denied because it was a Shared Risk with Fannie Mae.


Initially (8 mos ago) NFCU said that Fannie would not sell them the loan so NFCU could proceed with the short sale.  Now with all the changes in guidelines I figured things would be different. We resubmitted the offer, got a foreclosure date postponed, appraisal done, and now we get the same response. 


Has anyone else encountered this?  Do you think it means that the MI on this note will fully pay out Fannie Mae and they will let NFCU take the hit?  Is that why Fannie does not want to sell the note because somehow they will get more money thru the foreclosure process?  Do you think I will have better luck submitting thru the Fannie Mae HAFA program.....although it is not Wholely owned by Fannie.  This is so frustrating.  Maybe getting an attorney involved is the best solution.  Please share your thoughts and ideas.



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