Fannie Mae expedites REO sales

Offers may be accepted without notifying loan servicers

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Fannie Mae has adopted a new policy in which it may accept offers to purchase homes it has repossesed without notifying loan servicers.

Loan servicers may be required to reimburse Fannie Mae for a loss if it turns out the original mortgage on the home did not meet its eligibility or underwriting requirements.