FHFA Streamlines Short Sale Standards for Fannie Mae and Freddie Mac
The program attempts to remove barriers created by some subordinate lien holders by limiting subordinate-lien payments to $6,000. This maneuver essentially cuts off any attempts by second-lien holders to negotiate for larger payoff amounts.
New short sale requirements for servicers proposed by the Federal Housing Finance Agency are giving financial firms a battle strategy for dealing with reluctant subordinate-lien holders who attempt to delay short sales on points of negotiation.
Some parties in short sales are able to delay the process by Click Here for Full Video/Article (Members Only)