Servicing Guide

Published December 12, 2018

A4-2.1-03: Managing Short Sales (06/21/2017)

All properties being considered for a short sale must be listed on the applicable MLS that covers the geographic area in which the property is located for a minimum of five consecutive calendar days, including one weekend (i.e., Saturday and Sunday), prior to the servicer submitting the short sale recommendation to Fannie Mae for review.

Note: If the geographic area in which the property is located is not covered by MLS, the property must be advertised in a manner customary for that real estate market. A printed copy of the property listing must be kept in the mortgage loan servicing file.

Related Announcements

The following table provides references to the Announcements that are related to this topic.

Announcements Issue Date
Announcement SVC-2017-05 June 21, 2017