Fannie, Freddie set new short sale timelines

New Fannie Mae rules for bankruptcy, pre-foreclosure, & short sales. Recently, Fannie Mae changed its mortgage rules for borrowers with a.

Facts on New Short Sale Timeline Requirements for Fannie and Freddie. April 19, 2012. The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to update their short sale timelines, and also will require servicers to provide weekly updates when decisions take more than 30 days after the receipt of a complete application for a short sale.

After years of complaints about fragmented and outdated policies, mortgage giants Fannie Mae and Freddie Mac will. page when it comes to short sales, with the same borrower qualifications,

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 · News Facts. Freddie Mac’s new short sale timelines require servicers to make a decision within 30 days of receiving either 1) an offer on a property under Freddie Mac’s traditional short sale program or 2) a completed Borrower Response Package (BRP) requesting consideration for a short sale under HAFA or Freddie Mac’s traditional short sale program.

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Fannie Mae and Freddie Mac will require mortgage servicers to make decisions on short sales under new timelines beginning this June.. Servicers must review and respond to a borrower within 30 days.

NEW YORK(CNNMoney.com) — The federal government’s plan to streamline modifications of troubled loans held by Fannie Mae and Freddie Mac won’t help the. work out a deal with the servicer, likely a.

Fannie and Freddie plan to use the new short sale timelines to evaluate servicer compliance with their Servicing Alignment Initiative.. Fannie and Freddie Set Timeline Requirements for Short.

Short Sale Decision Timelines Set by Fannie and Freddie. Yesterday, in a five-page bulletin, the GSEs issued new guidelines for Fannie Mae- and Freddie Mac-backed loans. As of June 15, 2012, agents working with distressed homeowners should expect to receive a decision on the short sale.

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The new short-sale timelines, announced this week by Fannie and Freddie’s regulator, the Federal Housing Finance Agency, take effect in June as the first step in a broader effort to "develop.

Doc Stamps In Connection With Transactions Involving Fannie Mae/Freddie Mac.. Fannie Mae and Freddie Mac Set New Short sale timelines september 21, 2012. Does Freddie Mac Own Your Loan?. The lawyers at Berlin Patten Ebling handle a wide variety of real estate matters with clients.