Fannie Mae and NPDC

I hope this helps some of my fellow REOPRO friends! Just a few items that I have learned about Fannie Mae.I applied to Fannie Mae about three months and my application was approved. This is the link that I used to apply for those of you that have asked where to find it.http://www.fanniemae.com/aboutfm/procurement/reobroker.jhtmlThen I received an email that said I was approved for the Fannie Mae website, which included a log-in and password. This is not an approval from NPDC (National Property Disposition Center) this is the management center, which is the next step in being approved as a REO vendor for Fannie Mae.There is also a requirement of the following to be approved:Our minimum supplier qualifications require that your company must:• have been in business for at least one year, and be able to demonstrate revenue for this period. (You may not obtain more than 70 percent of your revenue from Fannie Mae)• have a professional place of business outside of Fannie Mae, and be able to provide that business address to Fannie Mae• be able to provide a completed W-9 form to Fannie Mae• be able to provide a certificate of insurance evidencing the insurance coverage appropriate for the level and type of business to be conducted with Fannie Mae• have and maintain a minimum of three W-2 employeesFannie Mae expects its suppliers to adhere to the tenets outlined in its Supplier Requirements for Contractors and Consultants.I hope this helps answer some of your questions and points you in the right direction. If anyone has been successful at gaining a direct relationship with Fannie Mae please share.

This group is to discuss Fannie Mae properties with Fannie Mae listings agents and those who hope to soon be FNMA listing agents and to share solutio…

Replies

Mark Howard April 5, 2011 at 2:31pm

I completed my account information back in December, going on four months now - while the account appears to be active, I have no further contact from the SAP E-Sourcing

How can I know that I have provided all of the correct information ?

How long should I wait for a response from SAP E-Sourcing ?

Any suggestions or information is greatly appreciated

Mahalo

Mark
Brandon Jordan November 15, 2010 at 5:16pm

Good information on the post here. I have started a group on Fannie Mae on REO Pro where i have posted some information that is Fannie Mae related. Fannie Mae Group REO PRO

Groups

This group is to discuss Fannie Mae properties with Fannie Mae listings agents and those who hope to soon be FNMA listing agents and to share solutio…
Janet Frederick NRBA, CRS, ABR January 11, 2010 at 5:52am

Kathy,
It's a requirement listed on their website, so I'm not sure why they require w-2 employees.
Richard Lawler January 10, 2010 at 5:20pm

Thanks! I applied sometime ago when I was with a company that uses a PO box and was turned down by them!
Kathy Fuhriman January 10, 2010 at 4:35pm

Why would we need three W-2 employees? I only need one to run the billing and reimbursements, setting up utility accounts etc. Other help could be obtained by buyers agents.
Gina December 28, 2009 at 2:45pm

Thanks for sharing this info. How long did it take you to become approved once you signed up?

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