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.
The following table provides references to the Announcements that are related to this topic.
|Announcement SVC-2017-05||June 21, 2017|