Midwest Firm Offers Service to Speed Up Fannie Mae Short Sales

Midwest Real Estate Data (MRED) has teamed up with Fannie Mae to provide its brokers and agents with a service designed to shorten the time they have to wait for approval from the GSE on short sale transactions. MRED provides property listing services in northern Illinois, southern Wisconsin, and northwest Indiana. This week, the company announced the availability of the Fannie Mae Short Sale Assistance Desk for its coverage area. The tool has already been employed by MLSs in Florida and Nevada, and agents there are seeing the benefits.

Currently, gaining an approval to proceed with a short sale transaction can take months. By collecting and submitting information via the GSE’s streamlined Assistance Desk service, MRED says Fannie Mae will have the data it needs to make quicker decisions regarding short sale requests.


The Assistance Desk expedites the process so that a real estate professional will receive an initial response within one week confirming that the case has been reviewed, MRED explained.


 
Short sale version of MERS??