Southwest Florida Title Insurance & Real Estate Blog -

Fannie Mae Now offering a Short Sale Escalation Tool

Posted by Jillian Dohack On February 27

Fannie Mae Headquarters (Photo Courtesy of Wiki media user AgnosticPreachersKid)

I read an article last week that stated Fannie Mae is now offering a way for real estate professionals and short sale specialists working on short sales to be able to communicate directly with them when they run into issues. This is now replacing the SSAD (Short Sale Assistance Desk).

From what I have read the new short-sale escalation process is an extension of Fannie Mae’s HomePath for Short Sales tool and is open to those working on a short sale involving a loan owned by Fannie Mae.

This HomePath tool was created to resolve short sale challenges. Once a case is escalated, Fannie Mae will directly work with the agent or servicer to address these issues such as valuation disputes, delays by servicers or uncooperative subordinate lien holders.

Agents can also use the new escalation process to receive a suggested list price from Fannie Mae prior to listing the property for sale.

“By giving agents a straightforward, transparent way to escalate short-sale issues to Fannie Mae, we will close more sales, prevent foreclosures and help neighborhoods continue to recover,” said Jay Ryan, Vice President for Real Estate Sales at Fannie Mae, in a statement.

Read the rest of this entry »

Hi everybody! Short blog post today.

I received this email a little over a week ago from Bank of America and thought I’d share it with all of you because it pertains to short sale agent commissions and I know many of you who read my blog, are real estate agents involved in the short sale process.

Please read this over because if you’re a REALTOR® in Florida who is frequently working on short sales, your commission could depend on it! Click both thumbnails below. Call us at Winged Foot Title if you have any questions.

– Chris

My company, Winged Foot Title, (a Fort Myers title company) understands the value of home ownership. More importantly, we understand the value of protecting the American dream. We know that title insurance is the key to eliminating risks in real estate transactions.

Title insurance is valued by:

Read the rest of this entry »

Florida Weekly Front Page Cover Story

When we begin to counsel our clients about the short sale of their homes, one of the questions that we get asked frequently is “Is it possible to sell my home as a short sale and not have a deficiency judgement placed against me?” The answer is Yes! It has happened before in the past. However, that’s certainly not the norm.

Not too long ago, I was quoted in a Florida Weekly article regarding lenders pursuing borrowers for the deficiency judgment. Here is the actual article:

Read the rest of this entry »

NOT LEGAL ADVICE: This information is not to be construed as legal advice. Legal advice must be tailored to the specific circumstances of each case. Every effort has been made to assure that this information is up-to-date as of the date of publication. It is not intended to be a full and exhaustive explanation of the law in any area. This information is not intended as legal advice and may not be used as legal advice. It should not be used to replace the advice of your own legal counsel.

Winged Foot Tite, LLC is not associated with the government, and our [short sale orchestration] service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.