Report Short Sale Issues to Realcomp 
We understand that many Realcomp MLS subscribers are facing various challenges with short sales. Some of these challenges may include reduced commission at closing, lack of response from the lender, erroneous fees, etc.

Realcomp wants to hear from you! We are collecting data on short sales involving a Fannie Mae backed first loan. We will use the data to assess the transaction and determine if there are potential solutions that may help expedite the sale. Please note that it could take up to four (4) weeks to resolve any issues. In addition, Realcomp cannot guarantee a positive resolution on your short sale transaction. Report short sale issues to Realcomp now.

If you are currently dealing with problems on a short sale, please use Fannie Mae's Loan Lookup tool (below) to determine if Fannie Mae is the investor.

"First Look" Overview - Fannie Mae REO & Neighborhood Stabilization: Putting Public Funds to Work for Homebuyers and Communities
Fannie Mae’s goal continues to be to manage disposition of Real Estate Owned (REO) properties in a way that makes financial sense for the company and maintains the integrity of local communities. Individuals and organizations using public funds to purchase Fannie Mae-owned properties can now take advantage of a “First Look” initiative.

How “First Look” Works
During the first 15 days a property is listed for sale, only offers from owner-occupants, public entities or their designated partners will be considered. Offers from investors can be submitted, but they won’t be considered until after the initial 15 days.

How does the "First Look" program affect Realcomp's MLS rule that requires MLS Subscribers to present all offers as soon as possible? It does not affect Realcomp's rule. MLS Subscribers continue to be required to present all offers as soon as possible. Additionally, it becomes even more important than ever that Realcomp Subscribers indicate when listing a property that a "Fannie Mae Backed Mortgage" applies. This can be accomplished through the "Other Features" feature code group on the listing profile form.

Get all Fannie Mae-related details about the "First Look" program here: http://www.realcomp.com/Docs/Overview_First_Look.pdf.

Fannie Mae Loan Lookup:
Fannie Mae has created a tool for mortgage borrowers to help them quickly determine if Fannie Mae owns their loan. With the consent of the homeowner, REALTORS^® can use this tool to look up this information and mark their listings in the REALTOR^® facing MLS to confirm that Fannie Mae owns the loan. This will allow other REALTORS^® to search the MLS to identify properties that are secured by a Fannie Mae loan. Fannie Mae Loan Lookup Tool.

Fannie Mae REO Homes for Sale:
Help your clients find great affordable housing opportunities with Fannie Mae-owned properties, with up to 97% financing for select properties through HomePath financing options. Visit: www.HomePath.com - the site is available in both English and Spanish.

HomePath Mortgage and HomePath Renovation Mortgage Financing and Lenders: These special financing options are available on F annie Mae homes with the HomePath logo. HomePath Mortgage and HomePath Renovation Mortgage financing is available from a variety of lenders - both local and national. For more information on the financing and a list of lenders in your area, go to www.HomePath.com and click on the "HomePath Financing" tab.

Fannie Mae Real Estate News Updates: Fannie Mae has introduced "Real Estate News" to help real estate professionals stay updated by e-mail on new policies, products, and other topics important to their business. To keep up with important news and information on Fannie Mae REO, short sales, local events, policy announcements, and more, please sign up by going to www.HomePath.com and clicking on the "Real Estate Professionals" tab.

Fannie Mae Accepted Condos, Co-ops, and PUDS: For a list of approved Fannie Mae condominiums, cooperatives (co-ops), and Planned Unit Developments (PUDs) in your community, visit: https:www.efanniemae.com/sf/refmaterials/approvedprojects/index.jsp.

Financial Stability Plan:
This website provides an overview of the U.S. Treasury Department's Financial Stability Plan, including press announcements on the second lien program and foreclosure alternatives for short sales. Visit: www.financialstability.gov.

Foreclosure Alternatives and Home Price Decline Payments:
On May 14,  2009, Treasury announced new details on Foreclosure Alternatives and Home Price Decline Payments. The Foreclosure Alternatives are meant to prevent costly foreclosures by providing incentives for servicers and borrowers to pursue short sales and deeds-in-lieu of foreclosure in cases where a borrower is eligible for a MHA modification, but unable to complete the modification process. Visit: http://www.financialstability.gov/latest/tg_05142009.html

Making Home AffordableThe Making Home Affordable Program announced on March 4 , 2009  includes Fannie Mae Affordable Refinance options and the Home Affordable Modification Program.  The information can be obtained at www.efanniemae.com/sf/mha/index.jsp or www.MakingHomeAffordable.gov

Second Lien Program:
On April 28,  2009, Treasury announced a Second Lien Program so that when a Home Affordable Modification is initiated on a first lien, servicers participating in the Second Lien Program will automatically reduce payments on the associated second lien according to a pre-set protocol. Visit: http://www.financialstability.gov/latest/pr04_28.html.

Spanish Language Tools, documents, and forms/Herramientas, Documentas, y Formularios en Espanol:
To support your outreach efforts to Spanish-speaking homebuyers, Fannie Mae offers a variety of tools, documents and forms. From a bilingual glossary of industry terms, to mortgage documents in Spanish, to bilingual counseling tools and consumer product facts, Fannie Mae is working toward helping you better serve people in multicultural communities. Visit: https://www.efanniemae.com/sf/spanish/index.jsp.

Working with Short Sales Webinar:
Take this short training course on the basics of short sales. To access the webinar, go to http://fanniemae.articulate-online.com/7778700900.

Questions:
Contact Fannie Mae's Resource Center at 1-800-732-6643 with questions or concerns about anything related to Fannie Mae.

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