Freddie Mac confirms short sale commission policy

In a bit of positive news, Freddie Mac recently confirmed, in writing, that Loan Servicers may not renegotiate sales commissions below the amount agreed to by real estate brokers and sellers, whcih is now consistent with Fannie Mae policy on the same issue. Previously, Freddie Mac officials has publicly stated such a policy, but had not confirmed it in writing.

If the negotiated commission exceeds six percent, servicers are required to limit it to six percent. The National Association of Realtors has asked Freddie Mac officials to establish an appeals process for cases when servicers refuse to comply with the commission policy.