Appealing short sale commissions to Fannie Mae

In February, Fannie Mae instructed its servicers to honor the agent-negotiated commission on a short sale, unless the commission exceeds 6 percent. This instruction is applicable to properties where Fannie Mae is the investor.

According to a Fannie Mae announcement, REALTORS® who are working on a short sale and believe a servicer is negotiating their commission outside the bounds of its announcement, should appeal the servicer’s decision in the following manner:


1. Confirm that the loan is owned or guaranteed by Fannie Mae. With written permission from the homeowner (or in their presence), use the Fannie Mae Loan Lookup tool atwww.fanniemae.com/loanlookup. Alternatively, the homeowner can call Fannie Mae's Resource Center at (800)-7FANNIE (8 a.m. to 9 p.m. Eastern Time).



2.    If the loan is owned or guaranteed by Fannie Mae, provide a copy
of Announcement 09-03 to the servicer and negotiate
an appropriate commission based on the listing agreement
(up to 6 percent).






3.    If the dispute is not resolved, contact Fannie Mae at
(800)-7FANNIE. Be prepared to provide the property address,
name of owner, and Fannie Mae loan number, if available.


Note: Servicers must continue to obtain any third-party approvals (i.e., private mortgage insurers) and those approvals may impact commissions.