What is going on with FANNIE MAE? I have 2 deals right now where I know the BPO for the servicer came in at the offer price and FANNIE MAE countered $20K more on a $220K priced home with no comparables in that range and $55K more on a $45K home. I sent in great value disputes to www.homepathforshortsales.com and I basically never hear back from them on what happened. When I follow up with them, I get a response back to contact my servicer and the servicer just says that they still want these crazy prices. Does anyone have any ideas on how to get FANNIE MAE to even seriously look at these value disputes AND how I can get someone at FANNIE MAE on the phone, who can actually tell me what is going on and why they would rather foreclose and then accept an offer at or lower than the ones that have already been submitted?

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Thanks Victoria. That is insane. Kevin, can we get Albert Bryant or Bob Martin or anyone at Fannie Mae to give us some answers.

The same thing happened to my client on a Fannie Mae loan.  Property foreclosed even though we had a valid offer on the table. It was declined because the offer was too low.  The buyer increased the offer by $12,000 and still the offer was "too low".  I asked the servicer to counter so I could take it to the buyer.  I was told that just have the buyer write another offer and they would review it at that time.  Has anyone had this experience where the servicer does not give a counter offer amount for buyer to accept or reject?

I think sellers should be able to SUE the servicer or investor denied a sale for a particular price and then it ended up foreclosing and being remarked as an REO for less than the short sale.  If all seller could sue in small claims court, Fannie would think twice about these valuations.

Love it!  Class action suit!  has to be a hungry lawyer out there, or at least one who loves to tilt at windmills!

We have had the same issue with Fannie Mae. The buyers paid out of pocket for an appraisal. Fannie Mae still countered full value and then some. The home is in ruins, by the way, a big fixer upper. Hole in roof, water everywhere and they still did not care they wanted FULL market value. Declined file completely when buyers walked and now with lawyers. We even went to our politicians for help who pretended to care and spewed Fannie Mae guidelines back at us. We pay all these realtor fees to get some political clout and that is a joke as well. Please do not guarantee your clients they will get anything even if they do appraisals. You have to make them understand it might not work. It did not for us. 

Are others still having this same issue?  Got a foreclosure judgement amount for a Fannie Asset $190,000 and Fannie Mae countered $275,000.  



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