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News Release
August 21, 2012
News Release | Fannie Mae Announces New Short Sale Guidelines | Fannie Mae
Fannie Mae has taken a number of steps to make the short sale process more efficient, including implementing a Short Sale Assistance Desk to help real estate professionals in targeted markets work out challenges in individual short sales, requiring servicers to complete short sale evaluations within 60 days and making military families who receive Permanent Change of Station orders eligible for a short sale. Fannie Mae completed 38,717 short sales through the first six months of 2012 and 70,025 in full year 2011. The Servicing Guide Announcement implementing the changes to Fannie Maes short sale guidelines will be distributed to servicers and posted to www. efanniemae.com on Wednesday, August 22. Homeowners can learn more about short sales, modifications and other foreclosure alternatives at www. knowyouroptions.com. Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America. Follow us on Twitter: http://twitter.com/FannieMae 2013 Fannie Mae