In May, we announced our partnership with Fannie Mae and the California Association of Realtors (C.A.R.) as the first MLS in California to offer exclusive subscriber access to the Fannie Mae Short Sale Assistance Desk, a new tool to help speed up short sale transactions by expediting the resolution of common issues through a dedicated site available only to subscribers of participating MLSs. For details please view our press release, here.
Integration of the new tool has been implemented as part of the June 27 release. Subscribers can access the Short Sale Assistance Desk via a button on the homepage at pro.mlslistings.com, in the right hand menu after logging in.
From here, subscribers are directed to the C.A.R. interface, which will walk subscribers through the process of submitting and tracking a claim under the Short Sale Assistance program.
Through the C.A.R. interface, subscribers with a short sale transaction claim will need to first check whether the loan is indeed a Fannie Mae-backed loan, then download and submit the required buyer authorization form along with the details of the transaction in question.
Once submitted, subscribers can track the status of the transaction in the same interface, whether approval or resolution steps as necessary, via the button from the Pro homepage. A first response is expected to take anywhere from two weeks to 30 days or more, well shy of the nine-month processing delays that have hindered some transactions.
For more details on the Fannie Mae Short Sale Assistance Desk, please see our section on Fannie Mae in the Member Programs page of our new expanded information Portal. Check back frequently for additional information.
|
