C.A.R., in partnership with NAR, has met with representatives from Fannie Mae on multiple occasions to address problems REALTORS® are having with Fannie Mae short sales.
In mid-2012, in an effort to reduce tax-payer loss and deter fraud, Fannie Mae implemented a new valuation practice and began countering short sale offers at prices the GSE believed to be closer to market value. Many REALTORS® have reported that since this practice went into effect, the counter offers issued by Fannie Mae are above market value and are preventing short sales from closing.
To assist with these issues, Fannie Mae now is allowing REALTORS® to escalate problems with Fannie Mae short sales directly to Fannie Mae via http://www.homepathforshortsales.com/hpshortsaleinquiry.html. This portal may be used for valuation questions and concerns, as well as other problems encountered with a Fannie Mae short sale.