David Saks: Fannie Mae Debuts a New Short-Sale Tool for Agents

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Fannie Mae Debuts a New Short-Sale Tool for Agents

Fannie Mae Debuts Short-Sale Tool for Agents

Fannie Mae

Fannie Mae wants to work with mortgage servicers to streamline short sales, and is now asking listing agents to register accepted short-sale offers on

 Homepathforshortsales.Com

where they'll be asked to provide information such as the property address, MLS listing information, offer details, and subordinate lien information associated with the short sale.

Short Sale

 

“We believe this new process will help ensure all parties are in communication early on and are able to come to an agreeable and appropriate sales price. At the end of the day, Fannie Mae wants to get short sales done so that we can prevent foreclosures and help neighborhoods recover,” said Jay Ryan, vice president for real estate sales at Fannie Mae.

 

Agents are requested to upload a scanned copy of the sales contract, the estimated net sheet or HUD-1 settlement statement, and any borrower authorization form at

http://www.homepathforshortsales.com/short-sales-listingagent.html 

The mortgage giant is offering real estate professionals a nice way to work on short sales and also allows them a way to communicate directly with the company when they run into problems.

The new short-sale escalation process expands  Fannie Mae’s  tool and opens a new door to real estate pros working on short sales involving loans owned by Fannie Mae.

The process is designed for issues such as valuation disputes, servicer delays, or subordinate lien holders who fail to cooperate, Fannie Mae said.

Agents can also use the tool  to get recommendations about a list price before putting a property on the market.




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 6 commentsDavid Saks • June 10 2013 07:33AM

Comments

David,

Thanks for sharing. Hopefully we won't see too many more short sales.

Posted by Carla Freund, Carolina Life RealEstate & Relocation 919-602-8489 (Keller Williams Preferred Realty) over 6 years ago

I'm not so certain that we won't, Carla. Most, who make their bread and butter from this profession, want to sweep it under the rug. Much like a lurid denial of the holocaust. Someone still has to pay for the fraud, greed, misrepresentations, and the horrible manner in which reprehensible lenders robbed, cheated and scammed borrowers over the last 12 years. Fannie Mae, hopefully, may also be laying some groundwork to insure the integrity of the process. Real estate is really local when entire communities, beset with egregious levels of wealth, deny that fact that millions of Americans are still suffering from the worst economic disaster in the history of our nation. There is still a long road ahead for most of us. Thanks for your note.

Posted by David Saks ((retired)) over 6 years ago

Thanks David, I did a Home Path Foreclosure that went well recently and maybe this will be a good tool too?

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 6 years ago

Recovery is still far down the road for hundreds of thousands of homeowners, Noah, in spite of the phony enthusiam about the market. Most of the positive remarks about sales come from the wealthy side of fence and realtors listing luxury property trying to hide the reality of the situation. It's nice support from FNMA. These obnoxious cheerleaders for industry soon forget and hide the reality of the fact that there's less interest in the secondary market, which is where lenders get the money they need to originate more loans.

Posted by David Saks ((retired)) over 6 years ago

David, Thanks for your entry. Do you talk about the short sale on your video. I can't seem to get it to run other than an ad??

Posted by Helen and Larry Prier- Re-Max Gateway - Residential Real Estate, Anacortes & surrounding Skagit & Island Counties (RE-MAX Gateway- Residential Real Estate Sales) over 6 years ago

Just details about the tool, Helen and Larry. No vid. Only links. Glad to hear from you.

Posted by David Saks ((retired)) over 6 years ago

This blog does not allow anonymous comments