Information to assist with Fannie Mae Short Sales
Website: http://www.fanniemae.com/kb/index?page=home
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Latest Activity: Apr 28, 2017
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Fannie Mae Short Sale Affidavit
Fannie Mae Borrower Authorization FILLABLE FORM Version
Fannie Mae Short Sale Affidavit FILLABLE FORM Version
Fannie Mae Standard Short Sale/HAFA II and Deed-in-Lieu of Foreclosure Requirements
FANNIE MAE ANNOUNCEMENTS AND LENDER LETTERS
Fannie Mae Escalation and Offer Registration (Homepath For Short Sales)
Fannie Mae Short Sale: Improving the Short Sale Experience
Fannie Mae Short Sales Frequently Asked Questions by Listing Agents
Fannie Mae Announces New HomePath for Short Sales Escalation Process
https://www.homepathforshortsales.com/hpss/short-sale-resources
8. Are there any Fannie Mae-owned loans that won’t be found in the Fannie Mae Loan Lookup?
Yes. The database for the Fannie Mae Loan Lookup includes about 87 percent of our book of business. The database excludes reverse mortgages and certain other product types, and a few other loans are excluded for miscellaneous reasons.
The Loan Lookup database will be updated monthly, so any loans delivered to Fannie Mae since the last update will not find an accurate match. For these reasons, we encourage borrowers to confirm the results with their servicer.
9. Are there cases in which a borrower might get a “No Match Found” result even though Fannie Mae owns their mortgage?
Yes. The loan could be in our database, but have inaccurate or incomplete information. Properties in multi-unit buildings, such as condos, are especially prone to matching errors because our database may contain only the building address, but not the unit number. Also, there may be a misspelled street name or other error. The database reflects the loan data as it was delivered to us.
Finally, any user error in entering the address information could result in an incorrect result.
For these reasons, we encourage borrowers to confirm the results with their servicer.
REAL ESTATE AGENTS
Q. What is the commission structure for Fannie Mae short sales?
A: For a short sale, Fannie Mae is a not a party to the listing agreement and does not determine the commission structure. However, a short sale will not be approved if the total commission exceeds 6%.
Q. Does Fannie Mae require that the commission be split equally between the listing and selling agents?
A: No. For a short sale, Fannie Mae is not a party to the listing agreement and does not determine the commission structure or split.
Q: Does Fannie Mae assign listing agents to short sales?
A: Fannie Mae does not assign listing agents to short sales. While some servicers may recommend listing agents, the choice of listing agent is made by the seller.
Q: If an agent represents both seller and buyer on a short sale transaction, will the agent’s commission be reduced or remain at 6%?
A: An agent may represent both the buyer and seller and the agent will receive up to 6% in commission.
Started by Fred Bauscus Jun 30, 2016. 0 Replies 0 Likes
I'm looking for help/suggestions dealing with Fannie on a predatory loan. The borrowers took out an 80/20 back in the day and both notes are interest only ARMs & they've been paying on them for…Continue
Started by Tyra General. Last reply by Kevin - Greenville, SC Dec 22, 2015. 2 Replies 0 Likes
Hi,Has anyone ever had a client start the short sale process and decide to move forward with a deed in lieu arrangement? I have a new short sale and know that Fannie Mae may offer up to $10,000 in…Continue
Started by Myra McCaskill. Last reply by Kevin - Greenville, SC Nov 20, 2015. 3 Replies 0 Likes
Has anyone recently received an approved short sale from Fannie Mae without the Borrower being late on payments? Continue
Started by Teresa Keeler. Last reply by London Cox Jun 26, 2015. 3 Replies 0 Likes
So I sent in a value dispute on a Fannie Mae short sale after the buyer's appraisal came in low. I sent it through the portal and 8 days later I received this email: FMSS-20486 Our analysis of the…Continue
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Does anyone have a good contact for Fannie Mae? My negotiator that I have with them will not respond to any of my emails or phone calls. When I attempted to escalate my issue again through homepath, he cancelled it. I need to speak with someone there urgently and this guy is killing my deal.
They will generally if it hasn't been postponed prior.
Does Fannie Mae postpone foreclosures now due to short sale contract?
I find it interesting Fannie Mae tries to dictate how we market properties (being sure we are doing everything possible)....yet when one of my short sales went back to them by deed-in-lieu (as they insisted on way more than the appraised value)- they don't put it on the MLS. Nope. Homepath and Zillow (using MY photos- which have a copyright on them and my description). It's been on homepath and Zillow week and not on the MLS- what's the purpose of this? Are they trying to attract buyers who are unrepresented? The agent didn't even take any photos or write a description- who knows if he even went to the property? Perhaps the reason foreclosures go low is b/c they give sweetheart deals to their investors (and aren't trying to effectively market to everyone) or the agents they use are just plain awful.
Has anyone had a recent postponement in foreclosure sale date by Fannie Mae?
Negotiating a FNMA short sale since Oct 2012, - GreenTree (servicer) wasting my time updating docs every month as per their request, lender came up w/ a counter offer, buyer agreed and required docs sent, escalated the file to FNMA - Homepath 4-15-13 Case # given and someone assigned to this file.... another set of updated docs requested and submitted (paystubs, bk stmts, financials etc), servicer required few changes to the HUD w/ a closing date of 6/15. NO APPROVAL YET, servicer mentioned the file is in the hands of the investors, it's been almost 4 weeks, the only update I keep getting from FNMA is that the file is in review. and today FNMA sent me an email stating...
"Thank you for your continued patience. Your file is in review. I am monitoring the file daily and have reached out to my point of contact at the servicer’s office for an update on your file. When an update and/or decision is available you will be notified." THIS FILE IS NOT W/ SERVICER, FILE IS W/ INVESTOR... TOTAL NIGHTMARE. . I urgently need to escalate this file further w/ FNMA... Suggestions??? Do you know someone that can help us here? Thanks
Does anyone have a contact, number, or email for Fannie Mae?
We submitted a value dispute back on April 22nd and have had no response regarding the decision from anyone and our servicer says they wont know anything until they hear from the investor.... HELP!!!!
Barbara, I disputed a valuation using the Homepath site for Fannie Mae as instructed. To me the information I provided should have been a no-brainer. FM left the value $30,000 higher than a buyer would pay, and Chase would not submit anything less to FM. Property went to foreclosure. Not a good experience at all.
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