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Fannie Mae Resources & Tools

1. Fannie Mae Home Path for Short Sales (06/12/2013) - New:

 

Fannie Mae (FNMA/OTC) introduced a new tool to help real estate professionals successfully close short sales. Listing agents are now asked to register accepted short sale offers with Fannie Mae to provide greater transparency into the process and allow Fannie Mae to proactively work with the mortgage servicer to finalize the sale.  This process is the next step in Fannie Mae’s effort to work more collaboratively with real estate agents on short sales. Continue reading release information from Fannie Mae (PDF). Review the "Register an Offer with Fannie Mae Fact Sheet" for details.

 

2. Fannie Mae Short Sales Assistance Desk (02/06/2013) - Update:

 

The Short Sale Assistance Desk (SSAD) has been replaced with an easier-to-use short sale escalation process available from Fannie Mae on www.HomePath.com under the tab labeled "Short Sale".

Visit www.HomePath.com to learn more. The enhanced short sale escalation portal will continue to expedite the short sale process, provide short sale results faster with help from Fannie Mae, allow real estate professionals to escalate issues for resolution, and help homeowners avoid foreclosure. Fannie Mae staff will work directly with real estate professionals who have cases in process with the SSAD currently to ensure that there is no interruption in service.

 

3. Fannie Mae Home HomePath® Online Offers (02/02/12): Beginning February 2, 2012 all offers on Fannie Mae-owned properties in every state must be made through the HomePath Online Offers system. The Online Offers system simplifies the offer submission process with the following benefits:

 

  • Submit online quickly and simply with the “Make an Offer” button
  • Get up-to-date offer status information
  • Manage offer online
  • Conduct more efficient offer negotiations and broker/agent communications
  • Access powerful training tools, webinars and a superior customer support hotline

 

If you’re a Selling Agent: Beginning February 2, all offers on Fannie Mae-owned properties must be made through the HomePath Online Offers system. Selling agents should register on HomePath.com to place an offer.

 

If you’re a Listing Agent: Update your Agent Only Remarks: “Beg. 2/2/12, offers must be made online via HomePath.com.” Insert the same instructions into the Agent Only Remarks in the MLS listing on any new Fannie Mae HomePath property. Also, you can attach instructions from the Online Offers Support page.

 

For more information, visit the HomePath Online Offers Resources Page. To learn more about the program and how to manage your offers online, view the HomePath Online Offers Resources Page for training materials, frequently asked questions, webinars and other resources.

 

Questions: If you have any questions, please call 1-866-218-4446.

 

4. Fannie Mae HomePath® Mortgage and HomePath® Renovation Mortgage Financing and Lenders: These special financing options are available on Fannie Mae homes with the HomePath logo. HomePath Mortgage and HomePath Renovation Mortgage financing is available from a variety of lenders - both local and national. For more information on the financing and a list of lenders in your area, go to   

 www.HomePath.com and click on the "HomePath Financing" tab.

 

5. Fannie Mae REO Homes for Sale:

 

Help your clients find great affordable housing opportunities with Fannie Mae-owned properties, with up to 97% financing for select properties through HomePath financing options. Visit: www.HomePath.com - the site is available in both English and Spanish.

 

 

 

6. "First Look" Overview - Fannie Mae REO & Neighborhood Stabilization: Putting Public Funds to Work for Homebuyers and Communities. Fannie Mae’s goal continues to be to manage disposition of Real Estate Owned (REO) properties in a way that makes financial sense for the company and maintains the integrity of local communities. Individuals and organizations using public funds to purchase Fannie Mae-owned properties can now take advantage of a “First Look” initiative. How “First Look” Works - During the first 15 days a property is listed for sale, only offers from owner-occupants, public entities or their designated partners will be considered. Offers from investors can be submitted, but they won’t be considered until after the initial 15 days. How does the "First Look" program affect Realcomp's MLS rule that requires MLS Subscribers to present all offers as soon as possible? It does not affect Realcomp's rule. MLS Subscribers continue to be required to present all offers as soon as possible. Additionally, it becomes even more important than ever that Realcomp Subscribers indicate when listing a property that a "Fannie Mae Backed Mortgage" applies. This can be accomplished through the "Other Features" feature code group on the listing profile form. Get all Fannie Mae-related details about the "First Look" program here: http://www.realcomp.com/Docs/Overview_First_Look.pdf.

 

7. Fannie Mae Real Estate News Updates: Fannie Mae has introduced "Real Estate News" to help real estate professionals stay updated by e-mail on new policies, products, and other topics important to their business. To keep up with important news and information on Fannie Mae REO, short sales, local events, policy announcements, and more, please sign up by going to www.HomePath.com and clicking on the "Real Estate Professionals" tab.

 

8. Financial Stability Plan: This website provides an overview of the U.S. Treasury Department's Financial Stability Plan, including press announcements on the second lien program and foreclosure alternatives for short sales. Visit: http://www.treasury.gov/initiatives/financial-stability/Pages/default.aspx

 

9. Making Home Affordable: The Making Home Affordable Program announced on March 4, 2009, includes Fannie mae Affordable Refinance options and the Home Affordable Modification Program. The information can be obtained at www.efanniemae.com/sf/mha/index.jsp or www.MakingHomeAffordable.gov

10. Working with Short Sales Webinar: Take this short training course on the basics of short sales. To access the webinar, go to http://fanniemae.articulate-online.com/7778700900.

 

Questions: To contact Fannie Mae's Resource Center with questions or concerns, call 1-800-732-6643.

Last modified: Friday, October 18, 2013

 

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