Real Estate Pros can Soon Negotiate Short Sales Directly With Fannie

Real estate agents will soon be ablernto negotiate terms of a short sale directly with Fannie Mae rather thanrncommunicating through servicers.  This isrnone of the improvements the company announced today that it will be making availablernon its HomePath for Short Sales website. </p

The site is a communication toolrncreated in February 2013 to help real estate professionals more efficientlyrnhandle short sales and resolve problems directly with Fannie Mae.  The company said the improvements will allowrnagents to contact the company earlier in the short sale process and “preempt potentialrnchallenges, decreasing the need to escalate concerns further down the road.”</p

Through the expanded portal listingrnagents will be able to work directly with Fannie Mae to request list price guidancernbefore listing a property and view the status of submitted cases.  The ability to negotiate and receive approvalrnon a short sale directly from the company will be rolled out over the next fewrnmonths through individual servicers.  </p

“This is an important step inrncontinuing to build a strong relationship with the real estate community, whichrnwill ultimately contribute to the stabilization of neighborhoods,” saidrnTim McCallum, Vice President for Short Sales, Fannie Mae. “Allowing real estaternprofessionals to negotiate an offer directly with Fannie Mae is the next steprnin streamlining the short sale process. Our goal is to provide transparencyrnthroughout these transactions and arrive at an agreement that benefits allrnparties involved.”</p

The website, http://www.homepathforshortsales.com/</ais open to any real estate professional working on a shortrnsale involving a Fannie Mae-owned loan.