Servicing Guide

Published November 10, 2020

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What are the requirements for obtaining a property valuation when processing a Fannie Mae Short Sale?

The servicer must obtain a property valuation in accordance with Obtaining a Property Valuation in D2-3.3-01, Fannie Mae Short Sale. The property valuation must be dated or have been refreshed by Fannie Mae within 90 calendar days of the short sale approval.

The following table provides additional requirements for all property valuations for a short sale.

The servicer must…
 

Submit property valuation orders using the VMS application and the VMS Valuation Order Template.

Note: To obtain access to the VMS application, the servicer must complete a VMS User Setup Template and submit it to valuation_operations@fanniemae.com.

 

Include the cost of the property value order in the MI claim.

The results of the property value will be available through Fannie Mae’s servicing solutions system within seven to ten calendar days from the date the servicer submits the order

For more information please see F-1-15, Processing a 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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