SCRA Protection – Fannie Mae and Freddie Mac and short sale and costs

Compliance > Lending > Service Members > SCRA
Q: If a service member on active duty applies for a short sale and the lender has to review the title and order an appraisal in order to review the request, can those costs be charged back to the service member?
A:  Expenses incurred for valuations and title reviews for short sales are not charged to the borrower.
ADDITIONAL INFORMATION – This Q&A was released by the Federal Reserve Board, in follow up to their Servicemember Financial Protection Webinar that was presented on September 10, 2012 -

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