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  • Which Lenders/Servicers Process Short Sales the Fastest?

    RealtyTrac reports that Fannie Mae, Freddie Mac and FHA loans lead the pack for the fastest Short Sale approval timeline.  As of January 2012 the timeline for getting Short Sales accomplished was 193 days for the GSEs. In January 2011 that timeline extended to 248 days on average.

    In second place for Short Sale approval speed was Ally with an average of 321 days from the time the property went into default until the Short Sale was completed.  Ally’s timeline decreased from 393 days the previous year.

    Here were the results for several other lenders/servicers:  PNC Financial Group (353 days), Wells Fargo (385 days), Bank of New York Mellon (402 days), Bank of America (403 days) and Sun Trust (404 days).

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