My Florida Regional MLS (MFRMLS) is pleased to announce our participation in the Fannie Mae Short Sale Assistance Desk. In 2009, Fannie Mae began using data provided by MLS vendors to explore some of the challenges subscribers were facing in their short sale transactions. Based on the lessons learned from this analysis, the new desk focuses on assisting in cases of non-responsiveness from servicers, or where the mortgage insurer or second lien holder has imposed a closing condition that is not possible for the borrower to meet.
The Assistance Desk includes:
- An efficient web-based intake form;
- A comprehensive list of criteria to qualify short sales issue eligibility;
- Easy-to-follow guidelines to facilitate processing of submissions; and
- A Borrower Authorization Form (BAF) to be signed by the homeowner giving you permission to share information related to the short sale with My Florida Regional MLS, Fannie Mae, and the servicer.
Only post-offer issues related to short sales on loans owned by Fannie Mae are eligible for the Assistance Desk. Please note that the Assistance Desk is not intended to replace the normal approval channels, and escalation through this channel does not guarantee a positive resolution on your short sale transaction.
In the months to come, we will continue to collect and analyze data from short sales transactions. By working together, we hope our combined efforts and renewed commitment to further improve business practices will help refine short sale transactions.
To learn more about the Short Sale Assistance Desk, including the criteria and process by which you can submit a case, please visit the following links and review the documentation and forms provided or click here to login to the Short Sale Assistance Desk.