fannie mae: Fannie Mae Will Not Allow Servicers to Cut Realtor Commissions if they are 6%!!! - 02/26/09 07:16 AM
Great News for us Short Sale Realtors fighting the good fight.  Fannie finally gets it!! We Realtors are saving them Billions of Dollars by performing pre-Foreclosure Sales, (Short Sales).  In the past, the servicers were bulling us around, threatening to cut are commission if the buyer asked for concessions or if the seller was not willing to contribute to closing cost or just to cut our commission because they could.  See below and then my commentary to follow!!
No Negotiation of Preforeclosure Sales Commission Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers Effective March 1, 2009, closing of preforeclosure sales … (8 comments)