Servicing Guide

Published November 10, 2020

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How long after the short sale transaction closing does the servicer have to review the settlement statement to validate compliance with the Fannie Mae Servicing Guide and for accuracy?

Within 48 hours of the short sale transaction closing, the servicer must review the settlement statement to validate compliance with this Guide and for accuracy, including the following items: 

  •  that the purchaser and the sales price match the purchase contract;
  • that the settlement statement is consistent with the closing instructions, particularly ineligible transfer of title to related parties; and
  • that the deed has been sent for recordation in the name of the buyer.

See below for related Q&A's:

What actions must be completed if there is evidence of fraud or misrepresentation in a short sale transaction?

What conditions must be met for completion of a Fannie Mae short sale transaction?  

For more information please see: D2-3.3-01, Fannie Mae Short Sale

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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