Fannie Mae Approves Full Commission

Fannie Mae can no longer require real estate Broker Company to reduce their commissions to approve short sales.  The new policy takes effect March 1, 2009.  No longer will Fannie Mae require real estate broker to reduce commission below what the listing agent and client negotiated with the exception of commission above six percent of the sales price.

The only difficulty for REALTORS is finding out if the loan is a Fannie Mae loan.  One strategy is to simply request whether the defaulted loan is a Fannie Mae loan and submit the Fannie Mae Announcement along with the short sale package.

Please click here for a copy of the Fannie Mae’s Announcement.

Michael Carter
San Diego Real Estate Agent
MTC Future Realty
(619) 488-5774