The Five Star Institute Partners with Fannie Mae to Offer Training for Short Sale Assistance Desk

DALLAS, Aug. 3, 2011 /PRNewswire/ -- The Five Star Institute, a mortgage industry group, announces that it is partnering with Fannie Mae to equip mortgage industry professionals with expert training focused on Fannie Mae's Short Sale Assistance Desk (SSAD).

Fannie Mae introduced the Short Sale Assistance Desk to accelerate the short-sale process for distressed homeowners with first-lien Fannie Mae-backed mortgages. Through the SSAD program, property-listing agents can expedite the delivery of short sales by submitting cases directly to Fannie via submission forms available on multiple listing services. After accepting a case, Fannie will work with its servicing partners to expedite the settlement and completion of a short sale.

"We are committed to helping homeowners avoid foreclosure whenever possible. The Fannie Mae Short Sale Assistance Desk helps real estate professionals resolve any issues that they may encounter during the review and approval process," said Marcel Bryar, Vice President of Fannie Mae.  "We are pleased to leverage Five Star's expertise in using advanced training programs for agents and brokers specializing in REO, default, and foreclosure to educate them on the benefits of the Desk."

"We are honored to work with Fannie Mae by incorporating the Fannie Mae Short Sale Assistance Desk into the innovative curricula that Five Star makes available for mortgage industry professionals," said Ed Delgado, CEO of the Five Star Institute. "This is good for homeowners in distress; good for the mortgage servicers, agents, and brokers that provide these short-sale services; and good for the housing and economic recovery at large."

Each year more than 5,000 real estate agents, mortgage brokers, and loan servicers attend Five Star conferences or participate in on-line training to better understand their industry, improve their service and skills, and network with colleagues.

According to a report by the Federal Housing Finance Agency, the number of homeowners completing short sales rose to 35,406 this year. The figures continue a short-sale surge that jumped to 107,953 last year.

About the Five Star Institute

The architect behind the Five Star Default Servicing Conference and Expo, as well as DS News and the MReport magazines for mortgage servicing and lending professionals, the Five Star Institute creates powerful, innovative, and invaluable opportunities for education and collaboration between mortgage industry professionals.

For more information about the Five Star Institute, visit www.thefivestar.com

SOURCE Five Star Institute