RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Reports
  • Events
  • Power Broker
  • Newsmakers
  • More
    • Publications
    • Education
No Result
View All Result
RISMedia
No Result
View All Result

Fannie Mae Adopts New REO Policy

Home Consumer
January 10, 2010
Reading Time: 2 mins read

RISMEDIA, January 11, 2010—In an effort to expedite REO sales, Fannie Mae has adopted a new policy. As part of this policy, Fannie Mae may accept offers to purchase homes it has repossessed without notifying loan servicers, and loan servicers may be required to reimburse Fannie Mae for a loss if it turns out the original mortgage on the home did not meet its eligibility or underwriting requirements..

Previously, if there was a question over whether a mortgage on a repossessed property met Fannie Mae’s requirements, servicers were given 15 days to turn over loan files for review. Rather than reimburse Fannie Mae for an incurred loss, loan servicers had the opportunity to try and find a better offer for the property or buy it themselves.

The rules have changed, though. In a recent announcement to loan servicers, Fannie Mae said it has implemented a change regarding assurance reviews. When the company is notified that a property has been acquired, it will begin the disposition process by obtaining opinions on the market value of a repossessed home and list it with a real estate broker.

“When Fannie Mae receives an offer to purchase a property that is also subject to an underwriting or servicing review, Fannie Mae may accept the purchase offer without first notifying the servicer, whether or not a final decision has been reached with respect to the review,” Fannie Mae said in its announcement. “If, after completion of the review, Fannie Mae determines that the mortgage loan did not meet its eligibility or underwriting requirements and Fannie Mae has incurred a loss by selling the property, the lender will be required to fully reimburse Fannie Mae for its loss.”

These changes come after recent reports from Fannie Mae showing an increase in the acquisition of foreclosed properties and an escalating rate of seriously delinquent single-family home loans.

According to its most recent quarterly report, Fannie Mae acquired 98,428 homes through foreclosure during the first nine months of last year and sold 89,691 REO properties during the same period. However, at the end of September 2009, Fannie Mae still had 72,275 REO properties on its books, marking a 7% increase year-over-year.

Furthermore, Fannie Mae’s monthly summary for November 2009 showed notable growth in seriously delinquent single-family home loans held or guaranteed by the company. Up from 1.89% in November 2008, loans three or more months behind in payments or in the foreclosure process soared to 4.98% in November 2009.

For more information, visit www.fanniemae.com.

ShareTweetShare

Related Posts

Steven Cohen and Team to Rejoin the Corcoran Group in Manhattan
Industry News

Steven Cohen and Team to Rejoin the Corcoran Group in Manhattan

October 9, 2025
Zombie Properties Aren’t Just a Spooky Season Buzzword—They’re Your Next Best Lead Source
Brokers

Zombie Properties Aren’t Just a Spooky Season Buzzword—They’re Your Next Best Lead Source

October 9, 2025
PropStream Announces October Event Appearances: BPCON, Wholesaling LIve and eXpCon
Industry News

PropStream Announces October Event Appearances: BPCON, Wholesaling LIve and eXpCon

October 9, 2025
eXp Realty® Acquires The Slocum Home Team in Rhode Island
Industry News

eXp Realty® Acquires The Slocum Home Team in Rhode Island

October 9, 2025
Mortgage Rates Holding Steady So Far Through Shutdown
Industry News

Mortgage Rates Holding Steady So Far Through Shutdown

October 9, 2025
Peculiar Properties: The Recycle House That Turned Trash Into a Treasure
Agents

Peculiar Properties: The Recycle House That Turned Trash Into a Treasure

October 9, 2025
Tip of the Day

3 Things to Consider Before Building a Social Media Content Calendar

Having a content calendar can take a seemingly simple goal of posting “X” times a week and give you a clear action plan to stick to. But before you dive in, here are a few important things to keep in mind before drafting a calendar. Read more.

Business Tip of the Day provided by

Recent Posts

  • Steven Cohen and Team to Rejoin the Corcoran Group in Manhattan
  • Zombie Properties Aren’t Just a Spooky Season Buzzword—They’re Your Next Best Lead Source
  • PropStream Announces October Event Appearances: BPCON, Wholesaling LIve and eXpCon

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kit Email Whitelist Terms & Policies ACE Marketing Technologies LLC

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • Reports
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2025 Newsmakers
    • 2024 Newsmakers
    • 2023 Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2025 Power Broker
    • 2024 Power Broker
    • 2023 Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2025 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

X