I am listing agent. Does anyone have any success getting help with Fannie Mae if my MLS does not support the Short Sale Assistance Desk? I have called before and was told that they only have authorization to speak with the servicers and not the realtor.
I have a price dispute with Bank of America- Hafa Fannie Mae backed (REDC the negotiator) said that we have a bottom line counter offer above the buyers appriased value of 202,000. BAC counter is 6,000 higher.
The appraisal did not matter, the bank countered the same price as before. They want the buyer to pay more than appraised price and contribute cash into the deal to make it work. The buyer shows funds to pay. It does not matter to the bank that the buyer will be using those funds to make over 17K of section 1 repairs to the home.
The Fannie Mae Resource Center can be reached at 1-800-7FANNIE (1-800-732-6643) Monday through Friday, between the hours of 8 a.m. and 8 p.m., Eastern Time.
You will need to send them a Letter of Authorization before they will speak to you about a specific file.
I sent an email to the assistance desk and then followed up with a phone call. They did not care that my MLS was not subscribed. I received the help I needed and the deal was finally approved. Keep trying...
Thanks I will keep trying.
If it's a valuation issue, FNMA generally will not work to reconcile until the BPO has expired.
Did you ever get this resolved? I have the same problem. BofA-non hafa Fannie Mae that wants $25k more than their own appraisal. They are taking last years appraisal instead of the current one and the home has since experienced a leak causeing a severe mold problem as was noted in their current appraisal. Is there some reason they just want to foreclose instead? There is not an auction date pending either.
Yes I did, I lost that buyer though and found a cash buyer. With the 2nd buyer at that time the bank got a clue and was reasonable. I got a new negotiator as well. I did a value dispute and got bids for repairs and submitted per the negotiator.
It all worked out.