You Can Now Negotiate Your Short Sales Directly With Fannie Mae!!

This is HUGE!!!

Submitting a Contract

Fannie Mae announces the expansion of the HomePath® for Short Sales website, a communication tool created to help real estate professionals efficiently complete short sales and resolve challenges directly with Fannie Mae. Listing Agents are able to submit a contract into the HomePath Short Sale Portal, negotiate, and receive first lien approval directly from Fannie Mae. Visit HomePath® for Short Sales website to view the list of participating servicers - (currently, Seterus is the only participating servicer - more servicers will be brought on during the course of the year).

To begin the process, use the Loan Lookup tool to determine if Fannie Mae owes your client's loan. If the loan is owned by Fannie Mae, have the homeowner complete and sign the Fannie Mae Homeowner Authorization form and contact the servicer to determine the homeowner's eligibility. Once the homeowner's eligibility has been determined, register as a listing agent in the HomePath Short Sale portal.

How to Submit a Contract trough the HomePath Short Sale Portal

  1. Log into the HomePath Short Sale Portal
     
  2. Submit the selected contract with terms acceptable to the homeowner into the HomePath Short Sale Portal (currently, Seterus is the only participating servicer - more servicers will come later in the year.)
     
  3. If your client's loan is not serviced by a participating servicer, submit the contract directly to the servicer and to Fannie Mae through the Submit a Contract tab on the HomePath® for Short Sales website.
     
  4. Await decisions and related communications from Fannie Mae. You will receive notifications if further actions are required or additional documentation is necessary.

Questions
For any technical support questions about the HomePath Short Sale Portal's functionality, please call 1-866-894-0205. If your question or issue does not relate to the functionality of the HomePath Short Sale Portal, you will be directed to the Fannie Mae resource center 1-800-7Fannie or to the Fannie Mae Short Sale escalation desk.

 

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