LawsonGroupMediation

I reported earlier that Bank of America and others were developing plans to reduce short sale processing to only a week or two. This would necessarily require the SMI’s to speed up their processing as well. To date, I have seen no action that is shortening the process.

If any of you see signs of this occurring, please let everyone know here.

To do this will require the government-owned entities, Fannie Mae and Freddie Mac to radically amend procedures. My contact tells me that there are discussions about this and it may happen before even he is aware of it. Essentially, all this will require is the implementation of a system allowing for lower level approvals of certain specific criteria.

I will stay on top of this and report to when I either get word from Freddie, or when an announcement is made.

Meanwhile, please report signs or announcements when you hear or experience a positive event.

Ken