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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Fannie eliminates negotiation of broker fee re short sale Posted by CC in OC on June 13, 2009 at 6:56 PM In Reply to: Re: Great post. posted by bukzin on June 13, 2009 at 5:02 PM Link: http://tinyurl.com/dcu9ar Pertinent portion: No Negotiation of Preforeclosure Sales Commission Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Link: http://tinyurl.com/dcu9ar : Pertinent portion: : No Negotiation of Preforeclosure Sales Commission : Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers : Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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