As you know from a February 27 post right here on VARbuzz, effective March 1, Fannie Mae instructed its servicers not to negotiate the commissions for short sales, as long as they fell below 6 percent. According to his latest podcast, NAR President Charles McMillan met last week with Freddie Mac’s interim CEO, John Koskinen and secured his commitment “to issue a similar policy on short sales commissions.” We’ll update this post as soon as we can locate the guideline.

In the meantime, download the podcast or read McMillan’s remarks.