Fannie, Freddie set new short sale timelines

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Greg H. sent "On FHA Short Sales there is a provision for doing a purchase with FHA Financing with no wait period after a Short Sale if a) the short sale was not financed with FHA loan, and b) the.

Facts on New Short Sale Timeline Requirements for Fannie and Freddie 04/21/2012 1:38 PM | Anonymous.

 · How to Short Sale: Chase’s New Process and Timeline. June 4, they will verify that you qualify for a short sale and they will set you up with a “list assist professional” that will work with your agent to order a valuation on your property and verify all documents throughout the process.. Fannie-Freddie backed 60 days for approval.

The new, aligned timelines include the requirement that mortgage servicers review and respond to requests for short sales within 30 calendar days from receipt of a short sale offer. beginning june 15 th, Fannie Mae & Freddie Mac Servicers will be required to make decisions on short sales.

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 · If you’re underwater and facing financial distress, what might Fannie Mae’s and Freddie Mac’s new short-sale reform policies mean for you? Potentially a lot – even if you are current on.

Fannie and Freddie set new short sale guidelines. From freddie. 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.

had sold itself for just $10 a share to JPMorgan Chase & Co. Now, amid tumbling home prices and near-record foreclosures, attention was focused on a new source of contagion: Fannie Mae and Freddie Mac.

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 · New Short Sale Timelines. Tuesday, June 5, 2012.. Beginning June 15, 2012, Fannie Mae and Freddie Mac servicers will be required to review and respond to short sale requests within 30 days of receipt of a short sale offer or completed Borrower Response Package (BRP).

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Freddie Mac Sets New Timelines for Short Sales, Expedite Decisions. Freddie Mac and Fannie Mae launched in 2011 at the direction of their regulator, the Federal Housing Finance Agency, to set.