Mar 11, 2009
NAR presses Freddie Mac on short sales commissions
11 Mar 2009
Posted by VAR
Lem Marshall recently let us know that Fannie Mae issued an announcement to its servicers instructing them not to negotiate short sale commissions below the amount negotiated by the listing agent, as long as the commission is 6 percent or less. The effective date was March 1.
Today, we hear from the mothership in Chicago that they have asked Freddie Mac to confirm that they have a similar policy.
We’ll let you know when NAR sends another signal.