What To Do When Fannie Mae Agents Fail To Follow Guidelines!

untouchablesAll Fannie Mae REO Agents & Vendors are to follow the Fannie Mae Master Listing Agreement. They are expected to represent Fannie Mae honestly, ethically and professionally. But once in a while, we get a rebel. A Listing broker that thinks they are “Untouchables“.

Who do you contact if you want to file a complaint against a Fannie Mae listing broker? My suggestion is to try to resolve the issue with the broker/agent direct before making a formal complaint. If this fails then, according to Fannie Mae, there are two options: 1) File a complaint with your state’s B.R.E. 2) File a formal complaint with Fannie Mae. Call 800-7FANNIE

WANT TO BECOME A FANNIE MAE LISTING AGENT OR VENDOR? For more information on becoming a Fannie Mae listing agent or vendor, CLICK HERE.* It’s a shortcut to the online HomePath registration form. *NOTE: Page is for network friends only. Not a member? Enter your email in the “SUBSCRIBE HERE” box on the upper left. It’s free for Realtors and always will be.

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10 comments for “What To Do When Fannie Mae Agents Fail To Follow Guidelines!

  1. April 16, 2014 at 10:54 pm

    Please keep the info coming, but let’s be clear here. The number of bad agents outweigh the number of good. It’s about time that if you have a problem with an agent, document it, then file either an Ethics Complaint or if in violation, License Law. Go on the offensive. If one agent files a complaint, it’s a hand slap. If multiple agents file, the offending agent will either loose their license or loose their realtor membership, which could result in their loss of the contract and reassignment to either another agent within that brokerage, or a brokerage’s suspension.

    And don’t just go after the agent if the broker is non-responsive as well. Filing against them will solve the problem, either with your transaction or another.

    Do not interfere with the seller, as you are risking a possible license law violation yourself. The agent has a listing contract, and we are not allowed to interfere with that relationship directly.

    Remember, you are the Professional in the transaction. And, Code of Ethics requires you to file these complaints.

    Dan Howard
    Disabled Veteran, REO, Short Sales, Equator and RES.NET Certified, CDPE, SFR, ABR, SRS, NAREB
    Macon, Georgia Area

  2. April 16, 2014 at 10:38 pm

    Clearly Poncie you have never followed this advice… I did ONCE. Won’t do it again; I just don’t show that agent’s listings anymore. The truth is, you’re dealing with the bank. They don’t care. They don’t have to! If an unethical agent is listing and closing at or in excess of the pace they’ve set, they don’t want to hear about it and they’re not going to do anything about it. The reality check is that it’s much less stressful and more productive to choose to work with ethical agents.

    Dallas/Carrollton/Farmers Branch/Addison REALTOR, AREO, BPOR, CDPE, CIAS, SFR, SRES, TAHS, TCLS Taylor Realty Associates

  3. April 16, 2014 at 10:26 pm

    I had one where I got OUR state rep involved…..NOTHING good came out of it….LEGAL THUGS! and YES I hope that someone from Fannie or Freddie reads this…oh wait a minute I forgot….too busy counting their money….as ALWAYS…just my opinion!

    J.R. Roberts, CNC
    Greater Chicago AreaReal Estate

    • April 16, 2014 at 10:41 pm

      J.R. So what is it that those agents are or are not doing that is wrong? I’m not i nthe day to day mix of this, so I don’t know.

      Bruce Beddard
      Sr. Loan Officer at Mortgage Master
      Greater Chicago Area

      • J.R. Roberts, CNC
        April 16, 2014 at 10:48 pm

        From what I have seen is they DON’T care about anything other than making Fannie & Freddie happy….sell sell sell…who cares what happens is the attitude…it’s still the WILD WEST out here and Fannie…Freddie are the Earp brothers…as always just my opinion!

  4. Anonymous
    April 15, 2014 at 1:05 pm

    Interesting comments about ethics and just because they call it the “fraud line” doesn’t mean you’re accusing anyone of fraud or you can’t call about their listing agent or inquire about problems — you aren’t the one that determines fraud, Fannie Mae determines that. It’s a service line in general and they also encourage buyers to contact them directly. From their website: For general questions about how Fannie Mae sells its homes, contact the Fannie Mae Resource Center at 1-800-7FANNIE. This number is also referred to as their “Fraud Tips Hotline” — same number. If the listing agent doesn’t return calls or emails when someone inquires about the property, why wouldn’t you contact FM as a second step? That’s what I had to do in one instance because the address was wrong and the MLS number matched an entirely different property — oh, and the listing agent had over 20 Homepath properties but this one wasn’t anywhere on the internet or the local MLS (just on Homepath). The listing agent is supposed to be representing them so they should know if there are issues with the advertising information, etc. — they want the property sold and FM isn’t a private seller so comments about code of ethics or violations or whatever seem overstated in this situation. Of course, be prepared to stay on hold a very long time when you call FM or leave a message for a return call in a few days.

  5. Jack Holder
    April 8, 2014 at 1:39 pm

    You should be ashamed of yourself. Is business THAT bad?

    Jack Holder
    Hi Jackson Realty
    132 E. Peachtree St., Scottsboro, 21 35768
    hijack@scottsboro.org (256) 259-9393

  6. Barbara
    April 5, 2014 at 9:05 am

    Whoa, the Fannie Mae #800 number is for Fraud…I would just say this, if you are a Realtor(R) you need to 100% and I mean 100% follow the Code of Ethics. Most Realtor(R) organizations have FREE legal counsel so before you take anyones advise, you better ask if it’s okay to contact a brokers SELLER EVEN if that seller is Fannie Mae….guess what… it is an obvious code of ethics violation. Funny, what about Realtors(s) representing ANY seller that you feel violated the code, you file a formal complaint with the Realtor(r) Board. Before you contact ANY seller directly, run that by an attorney….PS…I already know the answer. You open yourself up to a world of COE violations and more. This was provided to me by an attorney….

    Article 16 of the REALTORS Code of Ethics provides that “REALTORS shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS have with clients.” Furthermore, Standard of Practice 16-13 states that “all dealings concerning property exclusively listed, or with buyer/tenants who are subject to an exclusive agreement shall be carried on with the client’s representative or broker, and not with the client, except with the consent of the client’s representative or broker or except where such dealings are initiated by the client.”

    As you are aware, only REALTORS are subject to the REALTORS Code of Ethics. Assuming the buyer’s broker is a REALTOR member, then his/her actions are a clear violation of the above provisions. It is irrelevant that your customer/the seller is Freddie Mac, Fannie Mae, the VA or HUD; these provisions apply regardless of whether the seller is a private individual(s) or an institution.

    • Anonymous
      April 7, 2014 at 6:35 am

      Amen Barbara. I would also add that if you have a problem with one of us “Untouchables” that you contact us directly and allow us to respond to the complaint directly. That is always the chain of authority when dealing with any issue. I’m not saying we don’t make mistakes. Sometimes we do. ” Not me of course” LOL!!!!
      We, “The Untouchables” have guidelines that the seller has given us and yes they are in the sales guide. Sometime, these guidelines don’t make sense to the buyers agent. God forbid the buyer would understand. I find that most problems come when the buyers agent doesn’t know how to explain what has happened. If that buyers agent would call the Selling agent prior to giving a canned answer to the buyer. In most cases the selling agent “Should” be willing to explain.

  7. Jeanne
    April 5, 2014 at 4:24 am

    Would like this same information for HUD Homes re: their AMs

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