New Fannie and Freddie Servicing Requirements for Short Sales

[Chris Weiler]

I have seen a few blogs (not on Bigger Pockets) for this with no references. Apparently on January 18th, Fannie and Freddie announced changes to title transfer requirements. The new requirements are:

The buyer is prohibited from selling the property for any sales price for a period of 30 days from the date of the deed.

After a 30 day period, and until 90 days from the date of the deed the buyer is further prohibited from selling the property for a sales price greater than 120% of the short sale price.

The above restrictions will run with the land and are not personal to the grantee.

Can anyone confirm this and/or possibly have a link to a reputable source?