2012-08-21 — reuters.com
``The regulator said this would make it easier for banks to quickly qualify eligible borrowers for a short sale, where a bank accepts less than the balance owed on the property.
Mortgage servicers will be allowed to process a short sale faster for homeowners facing certain hardships, such as death, divorce and disability without additional approval from Fannie Mae and Freddie Mac.
The guidance, which will provide banks and borrowers clarity on processing a short sale, will be effective by November.''
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