No Negotiation of Pre-Foreclosure Sales Commission!
Fannie Mae has come out and actually put legislation in place instructing their servicers NOT to negotiate your commissions up to 6%. Here is the actual excerpt from their release:
No Negotiation of Pre-Foreclosure Sales CommissionServicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers
Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales. Here is the original link.
(click on Miscellaneous Servicing Policy Changes) For more information on how to break into the Short Sale Market, go to www.CDPE.com and get certified today! Tell them Bob Corcoran sent you! For more information on how to break into the Short Sale Market, go to and get certified today! Tell them Bob Corcoran sent you!
For more information on how to break into the Short Sale Market, go to and get certified today! Tell them Bob Corcoran sent you!