freddie mac short sale: Changes to Fannie Mae and Freddie Mac Short Sales
- 07/14/13 05:50 PM
There are changes looming in the guidelines which Fannie Mae and Freddie Mac utilize relative to the multiple listing services (MLS). Beginning August 1st, each new short sale listing must maintain an “active” status for a minimum of five days. Additionally, the five days must include a weekend. “Along with our regulator, the Federal Housing Finance Authority (FHFA), we decided to take this step in response to Realtors’ concerns,” says Jane Severn, director of marketing at Fannie Mae. “We’ve had cases where a short sale property is listed in the MLS as ‘active’ and, in less than an hour, it … (28 comments)
freddie mac short sale: Freddie Mac to Shorten Approval Times
- 01/24/13 10:39 PM
Last week I wrote a blog about changes in the Freddie Mac and Fannie Mae short sale guidelines. There is more news and this sounds like good news for a change. Freddie Mac announced yesterday that thanks to its Freddie Mac Standard Short Sale program the short sale process “will decrease by approximately 50 percent to 75 percent” according to Tracy Mooney, senior vice president for Freddie Mac. The Freddie Mac Standard Short Sale Program was launched on November 1, 2012. The program made changes to decision timelines, requiring banks to make a decision within 30 days if they are the … (1 comments)
freddie mac short sale: New Fannie Mae and Freddie Mac Short Sale Guidelines (gulp)
- 01/21/13 10:41 AM
Fannie Mae and Freddie Mac announced changes to their servicing requirements for short sales. Yipee!! This is not going to be good news….dontch ya just know it?? Please be aware of the following key changes for all parties involved in a short sale. These changes apply to all Fannie Mae and Freddie Mac short sales, with an offer and without an offer. Title Transfer requirement change: The buyer is prohibited from selling the property for any sales price for a period of 30 days from the date of the deed. After a 30 day period, and until 90 days from the … (3 comments)
freddie mac short sale: New Fannie Mae and Freddie Mac Short Sale Guidelines
- 12/03/12 05:39 PM
There was some rather good news for home owners who have loans with GSEs Fannie Mae or Freddie Mac! If you have a hardship, loss of job, divorce, change in financial circumstance from medical or family issue, etc., you can now be considered for a short sale even if you have not missed a mortgage payment. Freddie and Fannie will now have the same requirements and procedures. This was not true in the past. This is great news, especially for people who have a sudden change in their circumstances and can no longer afford their mortgages, but do not want to … (23 comments)
Author Bio: Paddy Deighan earned his Juris Doctorate and PhD Paddy consults with taxpayers in regard to tax liens, tax levies, tax levy, offer in compromise, tax debt, tax settlement
There are changes looming in the guidelines which Fannie Mae and Freddie Mac utilize relative to the multiple listing services (MLS). Beginning August 1st, each new short sale listing must maintain an “active” status for a minimum of five days. Additionally, the five days must include a weekend. 
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