NAR Meets with FHFA on Short Sales
February 27, 2012
On February 15, 2012, the National Association of REALTORS® met with representatives from Fannie Mae and Freddie Mac (the government-sponsored enterprises or GSEs), and GSE regulator, the Federal Housing Finance Administration, toidentify issues impeding the short sale process. REALTOR® participants, including 2012 Vice President and Liaison to Government Affairs Scott Louser and Treasurer Bill Armstrong, discussed challenges with closing short sale transactions including valuation issues, problems with subordinate lienholders, and marketing low value properties. NAR continues to work closely with regulators and the GSEs to streamline the short sale process and ensure borrowers are aware of this important foreclosure prevention option.