Starting on June 15th, short sale offers on distressed properties backed by Fannie Mae and Freddie Mac will receive a response within 30-60 days. Lack of a response to short sale offers in a timely manner has long been a frustration for real estate agents and alleviating this complaint is one of the objectives of the new policy.

http://www.dsnews.com/articles/fannie-and-freddie-set-timeline-requirements-for-short-sales-2012-04-17