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Short Sales in CT > Blog > FHA/HUD requiring agents to list MLS for a minimum of 15 days
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FHA/HUD requiring agents to list MLS for a minimum of 15 days

October 28, 2014

Short Sale Agent Update

October 28, 2014

Mortgagee Letter (ML) 14-15
Effective October 1, new Housing and Urban Development (HUD) guidelines require agents to have the property listed on the Multiple Listing Service (MLS) for a minimum of 15 days before any purchase contract can be reviewed by the servicer.

Note: The 15-day requirement starts when the property began listing on MLS at the appropriate price in relation to the Federal Housing Administration (FHA) "as-is" appraised value.

Additionally, the FHA Preforeclosure Sale Addendum & Real Estate License Certification Form has been updated on the Agent Resource Center (ARC) under the Forms & Tips tab.  Please discard any previous versions you may have and begin using the updated version immediately.




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