As many of you probably remember, a few months ago, WF announced that all new approval letters with the exception of HAFA short sales, would include verbiage that allowed for servicer/investor to pursue debt deficiency. This "new" policy was supposed to be final  and not able to be modified. Fortunately, we were able to show them very quickly that this "new" policy was in direct conflict with Fannie, Freddie and HUD guidelines.

Recently, WF sent an email on a Fannie short sale with the following comment:

 "Due to investor guideline changes the attached Short Sale Affidavit will need to be completed by all parties.  This is a NEW affidavit. Please have them complete the form and submit back to me in Equator as the Listing Addendum."

The problem is that this new Short Sale Affidavit is not in accordance with the new Fannie May guidelines to servicers that states .....

"The borrower, purchaser, and all parties involved in the transaction must sign and date a Short Sale Affidavit (Form 191) ".

 (Fannie Mae now has their own Short Sale Affidavit). The problem with the new WF Affidavit is that WF has added the section about "offers to purchase for a higher price".... This is NOT part of the new Fannie affidavit. In addition, WF has managed to not include a very important  clause that the Fannie Mae affidavit does have -

"All amounts to be paid to any person or entity,including holders of other liens on the Property, in connection with the shortsale have been disclosed to and approved by the Servicer and will be reflected on the HUD-1 Settlement Statement;"

For those who want to keep track of the new Fannie and Freddie announcements, below are the links I use. Hope it helps.

https://www.efanniemae.com/sf/guides/ssg/2012annlenltr.jsp

http://www.freddiemac.com/sell/guide/bulletins/