Has anyone had their B of A Fannie Mae short sale processed through REDC? If so, is it true that they will not allow a relocation fee to be given to the seller? I was told this Fannie's version of HAFA. Seller got something in the mail which included relocation fee however, negotiator is saying Fannie will not approve it. Anyone? Thanks.

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Sara~The folks at REDC are confused (not an unusual occurrence in my experience).  Direct them to the Fannie Mae Servicing Guide SVC-2010-07.  Although Page 9 "Allowable Short Sale Transaction Costs" fails to mention the incentive, if they read further, to pages 20 and 21, it specifically says that the borrower is entitled to a $3,000 incentive for the successful completion of a HAFA short sale.

I suggest you look up the Fannie Mae HAFA procedures at https://www.efanniemae.com/sf/servicing/hafa/pdf/hafaprocsteps.pdf

They list a $3,000 borrower incentive.

Thank you all. I plan on bringing that to the negotiator's attention.


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