On February 24, 2009, Fannie Mae sent Announcement 09-03 to its servicers, which took effect March 1, 2009. The announcement instructs their servicers not to negotiate commissions on short sales below the amount negotiated by the listing agent. The only exception is if the commission exceeds six percent. NAR reports that they will continue to work with Freddie Mac and other mortgage providers to urge them to ensure Realtors are paid fairly. This is great news for us agents because we all know how time consuming and stressful short sales can be to all parties involved. I hope other mortgage providers recognize the effort put into these transactions by real estate agents and decide to follow Fannie Mae's lead. If you would like to find out more about Announcement 09-03, go to www.efanniemae.com and search for Announcement 09-03.