MIAMI Association of Realtors Launches Short Sale Assistance Desk with Fannie Mae Features Bilingual Tools, Enhanced Functionality

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The 26,000-member Miami Association of REALTORS is pleased to announce its participation in the Fannie Mae Short Sales Assistance Desk (SSAD) pilot program, the first in the nation to feature bilingual tools.

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Martha Pomares, 2012 MIAMI Chairman of the Board

As the largest local Realtor association in the nation, we are excited to be able to offer all of our members in South Florida the Fannie Mae SSAD, which benefits Realtors, buyers and sellers, and the local real estate market.

The 26,000-member Miami Association of REALTORS is pleased to announce its participation in the Fannie Mae Short Sales Assistance Desk (SSAD) pilot program, the first in the nation to feature bilingual tools. The newly enhanced resource offers MIAMI members a user-friendly escalation procedure to facilitate and streamline the short sales process, assisting in closing more short sales. Short sales currently account for 30 percent of active listings in South Florida.

“As the largest local Realtor association in the nation, we are excited to be able to offer all of our members in South Florida the Fannie Mae SSAD,” said 2012 MIAMI Chairman Martha Pomares. “The SSAD benefits Realtors, buyers and sellers, and the local real estate market by expediting short sales, which will further decrease housing inventory and strengthen the South Florida marketplace.”

The SSAD initiative allows MIAMI and its members to collect and submit information to Fannie Mae using a dedicated submission form on MIAMI’s Multiple Listing Service website. In turn, MIAMI Provides Fannie Mae with data to improve property valuations and make quicker approval decisions on short sales requests.

Specifically, the Fannie Mae SSAD will address issues – servicer non-response, second lien, or mortgage insurance issues - facing MIAMI members when handling post-offer short sales with a first lien owned by Fannie Mae. The MIAMI SSAD also includes tutorials for agents in English and Spanish, overcoming functionality and language barriers.

“The Fannie Mae Short Sale Assistance Desk will help real estate professionals resolve any issues that they may encounter during the review and approval process," said Fannie Mae Vice President Marcel Bryar. “The goal of the SSAD is to clear the way for more short sales and make the process more efficient. The new bilingual features will help to expand this service to a broader audience.”

MIAMI and Fannie Mae will hold SSAD training seminars on January 27th in both Miami-Dade and Broward counties. To learn more about the Short Sales Assistance Desk, including the eligibility criteria and process for submitting a case, go to http://www.Miamire.com and click on Fannie Mae SSAD button.

MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating more than 90 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 26,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 100 international organizations worldwide. MIAMI’s official website is http://www.miamire.com.

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