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Realtors® Praise FHFA for Issuing Short Sale Approval Guidance

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WASHINGTON (April 18, 2012) – The National Association of Realtors® applauds the Federal Housing Finance Agency for issuing new guidance requiring servicers of Fannie Mae and Freddie Mac loans to speed responses to short sale requests.

The guidelines would require servicers to acknowledge receipt of short sale purchase offers within three business days; respond to short sale requests within 30 days (with a possible 30-day extension); and make a final decision within 60 days of receiving purchase offers.

“As the leading advocate for housing and homeownership,… Read More

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