Fannie Mae And Hud
Hello all! I just got notice of two short sales I am working with and wanted to know if anyone could verify this. Is it standard that Fannie Mae get 85%-90% of the apprasied value when doing a short, while Hud gets 82% Do they change these figures or is this standard?
Thanks in advance to this. I did get both , however I wanted to know for next time. Thanks again! 
One of the essential elements to successful short sale acquisition is the ability to denegrate the mortgagee's perception of value. So 82% or 85% of a higher number (uncontested FMV) isn't as favorable as 82% or 85% of a lower market value. The FHA 82% net recovery is etched in stone.
Thank you for the response. I the one was fannie mae and it was 85% and the other was va and that one was 82%. Thanks again for your information.