Home Short Sales and Fannie Mae
Home Short Sales
In mid-2012, in an effort to reduce taxpayer loss and deter fraud, Fannie Mae implemented a new valuation practice and began countering short sale offers at prices Fannie Mae believed to be closer to market value.
Many REALTORS® have reported that since this practice went into effect, the counter offers issued by Fannie Mae are above market value and are preventing short sales from closing.
To deal with these issues, the government-sponsored enterprise now is allowing REALTORS® to escalate problems with Fannie Mae short sales directly on Fannie Mae’s HomePath website. This portal may be used if you have valuation questions and concerns; haven’t heard back from the servicer; have an issue with an offer currently under negotiation; or encounter other problems with a Fannie Mae short sale.
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