Forum

Fannie Mae

Posted by Ryan Whitney, RDCPro, CDPE, SFR on September 12, 2009 at 11:25am in Sample Title
I have a question for any agents experienced with Fannie Mae.I understand that Fannie Mae outsources about half of their listings and keeps about half in house. So, It's obviously important to be an approved Fannie Mae broker. I sent in our application a while ago but have not been approved and the application clearly states that they will keep it on file for 2 years and if you have not heard back then you can re-apply.My REO team is approved with a few other asset managent co's that handle Fannie Mae listings. Some have set us up as being approved to receive Fannie Mae listings and others require your Fannie Mae ID# to be able to complete their MLA. So, my question is......Can I receive a Fannie Mae listing through an asset management company even if I have not been approved directly through Fannie Mae?Thanks!

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Replies

    • Michael Johnson > Lillian B Smith May 19, 2011 at 11:33pm

      I'm in the middle of the same application right now, same deadline, send me an email, I may be able to help.

       

      Mike Johnson

      Marathon Real Estate

      mike@annearundellistings.com

      • PATTY REIF > Michael Johnson June 27, 2011 at 10:52am

        HI Mike:

        I received the e-mail from Fannie Mae that I was accepted and that I would receive another email with user name and password info. from e-sourcing......It's been over 3 weeks and I haven't gotten anything.  Any tips on what I should do or anyone to contact from here?

        Thanks!

        • Kyle Whissel > PATTY REIF July 11, 2011 at 6:01pm
          eSourcing is the application site.

          The next step would be a For Fannie Mae to request a RFx (aka Request For Proposal).

          Then they would interview you view phone or in person.

          Then they would complete a business review.

          Then they would send you the docs necessary to get your AMN login.

          Then you are eligible to receive listings :).
          • Trong Dang > Kyle Whissel September 8, 2011 at 12:04pm

            Kyle,

             

            What kind of questions do they ask about you and the your business?

             

          • EDA DE LEON > Kyle Whissel August 31, 2011 at 9:15am

            Hi Kyle. I just joined this website and this is my first post.  It looks like you recently completed your FNMA RFx proposal and I am going thru the same thing right now.  When I click on the RFX proposal response, there is a set of questions that need to be completed mostly regarding my/office experience handling REOs.  We just recently started listing REOs so not much experience there.  Do they pay close attention to experience w/REO's and if they do.  Do they request paperwork of your closings? I do have about 20yrs of experience in the real estate industry. What do they ask on the phone interview? how long is the business review?

            Thanks

             

            Eda De Leon

            Florida Relocation R.E.

            eda.deleon2121@gmail.com

             

          • Shawn Maxwell > Kyle Whissel August 24, 2011 at 4:42am

            Hi Kyle,

             

            I was wondering if we can speak by phone. If you don't mind, I would like to ask you a few questions abouts the process once you receive a RFx from fannie mae. Once you received and completed the application, how long did it take for you to get approved, receive your login and start receiving listings.

            Thanks, Shawn Maxwell,

            • Kyle Whissel > Shawn Maxwell August 28, 2011 at 7:57am
              From the time I submitted the application online, to the time I got my first assignment was 10 months. They do personal and business background checks which move very slowly.
          • PATTY REIF > Kyle Whissel July 12, 2011 at 3:09am
            thanks for your reply Kyle.........sounds like you've been there, done that!
            • Kyle Whissel > PATTY REIF July 12, 2011 at 5:38pm
              Just finished going through iit all and got our first assignment last week :)
              • PATTY REIF > Kyle Whissel August 25, 2011 at 5:08am

                Hi Kyle: sorry to bug you so much.  How long did it take for you to get the RFx from Fannie Mae after you rcvd. your login info. and email that you were approved by Fannie Mae.  I seem to be stuck in this step as they are not cooperating with passing along to me the login info. that they claim to have initially sent to my Managing Broker.  Managing Broker claims he never got it and now he's no longer with us.  Anybody that I can call?

                thanks!

                Patty

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