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| Investor Report: Fannie Mae and Short Sales
by Kenneth R. Harney 
Read Thread <_snip_>
Fannie Mae, the single biggest player in the American mortgage market, plans to crank up the pace of short sales on properties in its bulging portfolio. Fannie intends to 'streamline' procedures to enable pre-foreclosure sales to speed through what is currently an extended, and often complicated, process. Fannie says it plans to 'pre-approve' certain short sales--a major change from current practices--and wants to provide higher commission incentives to realty agents who can connect sellers with qualified buyers.
Cheers,
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Here is a link that might be useful: Investor Report: Fannie Mae and Short Sales (Video too)
Follow-Up Postings:
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| I'm not sure how this works. if you got a mortgage at Wells Fargo, and it was bundled and sold....and you want to sell short sale......whoever the mortgage was bundled and sold to and now owns the loan goes to Fannie Mae or Freddie Mac to get approval? And who's going to make the difference up on the loans? |
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| "I'm not sure how this works. if you got a mortgage at Wells Fargo, and it was bundled and sold....and you want to sell short sale......whoever the mortgage was bundled and sold to and now owns the loan goes to Fannie Mae or Freddie Mac to get approval?" This would ONLY apply to loans owned by Freddie & Fannie. Wells Fargo is unlikely to have bundled the loan and sold bonds. "And who's going to make the difference up on the loans?" Freddie and Fannie. Note that as Duetchebank found out, owning a BOND does NOT mean you own the NOTE behind the bond. |
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- Posted by juan7073199222 (My Page) on Mon, Dec 1, 08 at 19:33
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| Hey Juan ~ I see that you just signed up today. Business slow at your work? Is the 707-319-9222 part of your name actually your work number in North Coastal California? I'd rather you speak with some persoanal authority rather than give us a link to an animated character. Robyn |
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| FYI, our mortgage "servicer" is Citigroup. In speaking with them recently, we were told our mortgage is owned by Fannie Mae. |
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