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If the net proceeds of a short sale exceed the amount due on the first mortgage, do homeowners and servicers get financial incentives?

April 26, 2017exceed financial homeowners incentives mortgage NET proceeds sale Servicers short

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If the net proceeds of a short sale exceed the amount due on the first mortgage, do homeowners and servicers get financial incentives?

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No. Supplemental Directive 09-09 Revised explains this situation: “[N]o incentives will be paid to the borrower, servicer or investor if the net proceeds from a sale exceed the total amount due on the first mortgage when title is transferred.