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 offer within 30-60 days. Service providers must comply with the new time frames as described in the bulletin.
For more information about the initiation of the time frames, read the DSNews article “Fannie and Freddie Set Timeline Requirements for Short Sales.”