Under new rules that went into effect last fall, the short sale process is getting faster, easier and more transparent, writes Freddie Mac Senior Vice President Tracy Mooney in a recent blog post.

The streamlined process aims to speed up the process with Freddie Mac estimating that the time needed to complete a short sale will decrease by approximately 50-75 percent, Mooney said. You can also read more in this REALTOR® Magazine blog post.

In other news:

Number of homes entering foreclosure drops 22.1% to six-year lowChicago Tribune

Mortgage rates rise to 3.51 percent Christian Science Monitor