New Fannie Mae short sale commission guidelines

Reblogger Pat Tasker
Real Estate Agent with Shorewest Realtors

Original content by Charles Fischer

Just saw this:

An exerpt from a recent  Fannie Mae release.

"No Negotiation of Preforeclosure Sales Commission

Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers

Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a
reduction of the total commission to be paid to real estate agents to a level below what was
negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales
price of the property in aggregate.  Servicers are reminded that they must continue to obtain
any approvals that may be required by interested third parties in connection with preforeclosure
sales."

 

Anyone else see this?

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Rainer
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Becky Brand
Shorewest Realtors - Oconomowoc, WI

Hi Pat - this is great - I haven't seen this yet and I intend to email it to Mark Reel.  Have a great day!

 

Mar 03, 2009 07:43 PM #1
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Rainmaker
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Pat Tasker

Your Milwaukee Metro Area Agent (WI)
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