Effective Nov. 10, Fannie Mae Short Sale loans must follow the HomePath
process. HomePath is a Fannie Mae-owned website that will facilitate the
negotiation of short sale offers between Fannie Mae and the real estate agent,
among other currently provided services.
To access HomePath, visit www.HomePathforShortSales.com. First-time users will be required to
register. By registering, you will be able to request list price guidance
and/or submit your highest and best contract amount with terms acceptable to
the homeowner for review directly to Fannie Mae. Fannie Mae will then provide
you with information directly through the HomePath website, alerting you to the list price guidance amount,
as well as notify you of approvals or counter offers in connection with any
purchase contracts you submit for review. For more information on using HomePath, there are several tutorials
available under the Resources tab
on the website.
The
real estate agent must obtain a copy of Fannie Mae's Homeowner Authorization
Form (located under the Resource tab on the HomePath website), have it signed
by the homeowner and upload it to HomePath.
Fannie Mae will not be
able to move forward with the Short Sale until the signed Homeowner
Authorization Form has been uploaded to HomePath.
Contact Fannie Mae at 1-800-7Fannie if you have any questions about the process or call 1-888-894-0205 to reach the HomePath Short Sale portal support center if you have any questions about how to use the HomePath Short Sale Portal. Training aids can be accessed from the Short Sale resource page.
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