Changes to the Short Sale Assistance Desk

New Software Program for the Fannie Mae Short Sale Assistance Desk

The process for submitting cases to the Fannie Mae Short Sale Assistance Desk (SSAD) has changed as of June 4.

How do you submit a case now?

Access to the new site is in the same area, on the Start Screen in IRESis as shown below. Simply click the link and follow the instructions. Detailed instructions are available on the Training screen in IRESis, under the Resources Tab.

Clarifire Community

Submission to the Short Sale Assistance Desk and case management is now managed now through Clarifire Community, a new case submission service that will streamline the submission, approval and tracking process for Fannie Mae short sales. Clarifire Community does not have access to MLS data and is only being implemented by Fannie Mae to run the Short Sale Assistance Desk.

The Fannie Mae Short Sale Assistance Desk helps real estate professionals resolve issues on Fannie Mae short sales that arise after a short sale offer is made. The enhanced process will continue to:

• Expedite the often confusing and time.consuming short sale process
• Provide you with short sale results faster with help from Fannie Mae
• Allow you to escalate issues for faster resolution
• Help homeowners avoid foreclosure

Eligibility 

The Short Sale Assistance Desk eligibility guidelines remain unchanged: 

1. The property must have a first lien owned by Fannie Mae
2. Only post offer issues can be submitted
3. The servicer must be in receipt of a valid offer for the property; and you must be an active member of  IRES and the listing agent for the property.

In addition:

• A case may be submitted in the event the servicer has not provided an initial response within 20 days, a final property valuation within 30 days, a final decision or specific direction to facilitate a decision within 60 days from the original offer submission date, or, if you have received an approval from the servicer for your transaction, but the MI (or 2nd lien holder) has imposed a closing condition that is not possible for the borrower to meet. 

As the Short Sale Assistance Desk continues to evolve, these guidelines may change to reflect expedited short sale timelines recently announced by Fannie Mae.