Fannie Mae1st is made whole +, Will they pay more than $6000 to 2nd

I have a fannie mae 1st and a Wells Fargo 2nd. If the 1st is made whole plus more, can the first apply the overage to the 2nd above the $6000?

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Comment by Brett Goldsmith on June 14, 2016 at 8:02am

If the 1st is a full payoff, the money leftover would be allotted to the subordinate liens. If the 1st is a full payoff than the investors guidelines don't play a role on that note since it's not a short sale.

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