So we got an accepted offer on a FNMA REO home about a month ago. Contract fully executed by the asset manager for FNMA. Everything's been going fine and loan docs are going out today. Buyer should've been closing by Monday or Tuesday. I get a call from the listing agent this morning with the bad news. She says we can't close because they weren't supposed to take investor offers until the property's been listed for 15 days according to FNMA guidelines. With the bank's addendum pretty much waiving any liabilities or duty to perform, is there any course of action my client can take to get seller to close??

That would be a NO. Hope no one else writes and wait it out.
Good luck

Well someone really dropped the ball on that one!

Hopefully it works out for your buyer.

Yet another example of why banks SUCK at selling real estate.

Please give an update when everything settles. Somebody really screwed the pooch on that one. Good luck.