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Important News: Fannie Mae Short Sale Assistance Desk Changes

February 25, 2013  |  by Jess

Fannie Mae is making changes to the Short Sale Assistance Desk (SSAD). In March, SSAD will be replaced with an easier-to-use short sale escalation process available from Fannie Mae on www.HomePath.com under the tab labeled “Short Sale.” You can also access this directly by visiting HomePathForShortSales.com or through the Short Sale Center tab in Matrix.

Please Note: If you currently have a case in process with the existing SSAD, the Fannie Mae team will work directly with you to ensure that there is no interruption in service.

This enhanced short sale escalation portal will continue to expedite the short sale process, provide short sale results faster with help from Fannie Mae, allow you to escalate issues for resolution, and help homeowners avoid foreclosure.

If you are a real estate professional seeking assistance with an active short sale, you can escalate certain short sale issues directly to Fannie Mae to get the answers you need. You should contact Fannie Mae through the HomePath for Short Sales site when:

  • You are ready to list a property and need a recommended list price.
  • You want to contest a value Fannie Mae has assigned to a listed property.
  • You haven’t heard back from the servicer.
  • You have an issue with an offer currently under negotiation.
  • You submitted an offer to the servicer more than 20 days ago and have not received acknowledgement of it.
  • Your request for a valuation has been pending with the servicer for more than 30 days.
  • You have not received an acceptance, rejection or counter to an offer you submitted more than 60 days ago.
  • You have a question about a Fannie Mae policy related to short sales.

Sign up for our upcoming Tool Tip Tuesday: Distressed Properties webinar on March 5th to learn about the changes to Fannie Mae’s portal, distressed property types, and other Short Sale Center resources.

Posted in Blog, Featured, Industry News

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5 responses to “Important News: Fannie Mae Short Sale Assistance Desk Changes”

  1. Jane A Quill says:

    Good information. Thanks for keeping Realtors updated!

  2. Valerie says:

    I don't do a lot of short sales. Can someone chime in and tell me how to determine whether a loan is owned by Fannie Mae to use this portal? Thanks.

  3. J. Hinton says:

    Listing agents hold the permission to communicate with Fannie Mae due to the seller relationship. What can buyer agents do? Even with an appraisal, Fannie Mae will only budge $ 100. It's going on a year. Property needs thousands of dollars of work which has been documented to Fannie Mae. Seems Fannie Mae wants to force this seller into bankruptcy. Any other remedies? Listing agent says they keep escalating and the answer is always the same! Seller wants to sell in a short sale not be foreclosed on.

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