Fannie Mae announced that it will no longer be using third-party management vendors and sales teams to help manage its REO properties. The mortgage giant will now be handling the management of its REO inventories through its in-house staff.
“We have reduced our REO inventory from 162,489 properties at the start of 2011 to 109,266 as of June 30, 2012,” Fannie Mae officials told HousingWire in an e-mail. “With a reduced inventory of properties, Fannie Mae’s in-house teams now have sufficient capacity to manage our REO properties without the assistance of third party asset management providers.”
However, Fannie announced it will continue to use real estate professionals to market the properties.
“Fannie Mae’s goal is to help neighborhoods recover by selling as many properties as possible to owner occupants at competitive prices,” Fannie told HousingWire.
The author of this article is: realtormag.realtor.org
See the original post at: http://realtormag.realtor.org/daily-news/2012/09/18/fannie-takes-bigger-grip-over-its-reo-sales
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com
