Tuesday
July 29, 2014

Fannie's Site Revamp to Help Agents Move Short Sales Faster

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Fannie's Site Revamp to Help Agents Move Short Sales Faster

Mortgage giant Fannie Mae announced that new functionality on its website provides real estate professionals with a way to contact Fannie Mae more quickly in the short sale process, and preempt any potential challenges that could cause problems down the road.

Fannie Mae will be expanding its HomePath Short Sales website, which was created to help real estate professionals complete short sales. The website is available to real estate professionals who are working on a short sale involving a Fannie Mae-owned loan. 

"This is an important step in continuing to build a strong relationship with the real estate community, which will ultimately contribute to the stabilization of neighborhoods," says Tim McCallum, vice president for short sales at Fannie Mae. "Allowing real estate professionals to negotiate an offer directly with Fannie Mae is the next step in streamlining the short sale process. Our goal is to provide transparency throughout these transactions and arrive at an agreement that benefits all parties involved."

The revamped HomePath Short Sale Portal will help listing agents to: 

  • Request list price guidance prior to listing a property directly from Fannie Mae;
  • View the status of submitted short sale cases; 
  • Negotiate and receive first lien approval on a short sale directly from Fannie Mae. (This feature is to be released in the next few months through individual servicers, Fannie notes.) 

Real estate professionals can find the revamped site at homepathforshortsales.com

Source: Fannie Mae

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