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Fannie Mae Broker Sales Representative for California

Posted by Lorraine Rasmussen on October 23, 2009 at 11:57am in Sample Title

I'm new to the site so I hope I am not breaking any rules.My latest quest in the REO world is acceptance into the Fannie Mae Broker network. Would anyone happen to know how the Sales Representatives are assigned properties? Is it geographically? If it is then it would be possible to determine which Sales Rep's cover my area. Then i would know who I need to solicit.Thank you to anyone who would be kind enought to share some insight!Lorraine

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Replies

Billie Dalessio October 24, 2009 at 4:14am

Lorraine, you can apply online at eFannie.com, npdc vendor application. Print it first, it is long. You'll need to provide references from other lenders you have done REO for. You can also register at homepath.com and they'll email you properties in your area, as they are listed, or soon to be listed, which can give you a head's up before they hit the mls. good luck.
- Lorraine Rasmussen > Billie Dalessio October 24, 2009 at 7:14am
  
  Thanks for the reply Billie,
  I am in the process of submitting the application. I'm just waiting for my contact to tell me the best references to use. I know this is just the beginning and the application will sit there unless I have the right references and the name of the sales rep at Fannie Mae that will be assigning listings in my area.
  
  So my key question is how to determine who the sales rep is for the San Diego area.
  
  Do you have any ideas on how to go about obtaining this information?
  
  Thanks,
  
  Lorraine
  
  ANy
  - Sara Mehrpouyan CDPE > Lorraine Rasmussen October 27, 2009 at 7:17pm
    
    When you're accepted, do they send the email in the name of your broker? Because that's what they did for me. It says hi Ken and the log in is his name. I filled in my name for listing contact I believe. Is there something wrong here? Anyone? Thanks.
    - Daniel Ripper > Sara Mehrpouyan CDPE October 28, 2009 at 5:59am
      
      Fannie deals directly with the broker.
      - Sara Mehrpouyan CDPE > Daniel Ripper October 28, 2009 at 7:20am
        
        Ok so hypothetically, if they send over an assignment it's ok if it's in my broker's name but I list it? It's not even in my company's name...so and so Realty..it's in the actual broker's first and last name.
Victoria Frieberg October 24, 2009 at 4:10am

You are ahead of me on being accepted, any tricks I can use! I have been on the Homesteps Selling agent list for a couple of years, and keep hearing that they will call me when the area opens up. One local broker pretty much had a lock on the area, and now they are also scratching their heads, as a new broker from somewhere in the metro area 70 miles away is all of a sudden getting a lions share of the listings. None of us has ever heard of them before!
- Lorraine Rasmussen > Victoria Frieberg October 24, 2009 at 7:15am
  
  Yeah I have heard that alot. But I've also seen in my area that Fannie is opening up the broker network to let more agents in in order to 'spread the wealth' which is only fair if you are a quasi government agency.