Investor Review (mortgage, mortgage, contract, value) - Foreclosures, Short Sales, and REOs - - City-Data Forum

ss7w6 · 08-09-2012, 08:47 AM

Hi all - I have made an offer on a short sale. We are exactly 77 days into it, and I'm being told that the negotiator has sent it for the "investor" to review. I know that the mortgage is through Flagstar, and the "investor" is Fannie Mae.

Does anyone know how long it takes for an investor to review the contract? What about specifically Fannie Mae?

Thanks!

2bindenver · 08-11-2012, 09:21 AM

10 to 15 business days, depending on the completeness of the file, the BPO value and the amount of the loss.