Forum

HELP WITH FANNIE MAE- My MLS does not support SS Assistace Desk

Posted by Kathy Dyer Realtor Rosevillle Ca on February 27, 2012 at 7:52am in Short Sale Discussions

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.

Any advice?

Kathy

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

Tags: America, Bank, Fannie, HAFA, Mae, Sale, Short, assiatnce, desk, of
Email me when people reply –
Follow

Replies

  • Kristen Hanson October 3, 2012 at 10:23am

    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.

    • Kathy Dyer Realtor Rosevillle Ca > Kristen Hanson October 3, 2012 at 10:30am

      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.

      Good luck,

  • Kevin - Greenville, SC February 27, 2012 at 7:29pm

    If it's a valuation issue, FNMA generally will not work to reconcile until the BPO has expired.  

  • Drew Ludlow February 27, 2012 at 2:46pm

    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...

  • Bryant Tutas February 27, 2012 at 2:07pm

    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.  

    EM: resource_center@fanniemae.com

    You will need to send them a Letter of Authorization before they will speak to you about a specific file.

This reply was deleted.
********************************** like buttons ************************