We just put another Fannie Mae listing into escrow. As the REO world shrinks, REO’s from Fannie Mae, Freddie Mac and HUD will always remain. My network buddy from Modesto has been servicing Fannie Mae for over 15 years. There might not be a lot, but one is better than nothing.
The National Foreclosure Report from CoreLogic said 52,000 homes were foreclosed in May 2013. In May there were 2,000 more foreclosures completed than in April. As of May, there were about 1.0 million homes in some foreclosure stage. As of April 2013, the value of shadow inventory was $314 billion.
I am often asked how one can sign up with Fannie Mae direct. In order to register as a REO Broker you will need to assemble the following required documents and information. You will need to upload the documents onto Fannie Mae’s online application form.
- Broker and Agent W9
- General Liability, E&O Insurance certificates
- Real Estate Broker & Agent license
- Legal company name
- federal Tax ID Number or (EIN)
- Third-party diversity certificates (if applicable)
- Certificates of membership to a professional organization (optional)
- Resume (optional)
Keep in mind that your company must be in business for at least one year and you must be able to demonstrate revenue. Your company must have a professional place of business.
If you require technical assistance, contact Fannie Mae not poncie.com
If you qualify and would like to apply, click the link below: