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fannie mae: GSE's Don't Use GPS, Mapquest, or Maps For That Matter - 10/04/11 07:17 PM
It appears as though technology has escaped our Government Service Enterprise vendors at Fannie Mae, Freddie Mac, and HUD. Why are they still by passing qualified Brokers & Agents that would do a far superior job servicing their REO's in favor of Brokers and Agents from over an hour from the property? Yet their spokesman and women tell us all at 5 Star, REO Insider, AREAA/NAHREP, REOMAC, etc conferences that they do not allow listing agents to be more than 10 miles from the property and promise to add more qualified agents to their selection process only to have us fill out countless applications … (1 comments)
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fannie mae: Is The Government Stealing Our Equity? - 09/17/11 09:21 AM
Recent reports put the shadow inventory of foreclosures at near 6 Million units. Of those the Governments Service Enterprises Fannie Mae, Freddie Mac, HUD, and alike own approximately 48% of those foreclosures.
What I have seen in the past 30 days is alarming. Those houses are flooding on to the market at between 20-30% below the last sold comparable in the same neighborhood. They are not trashed beat up fixers. On the contrary if they are in poor condition these agencies are hiring contractors to put in new appliances, carpet, paint, and do many other repairs to meet minimum FHA … (2 comments)
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fannie mae: Fannie Mae has over 160,000 REO's - 03/19/11 05:36 PM
Fannie Mae has over 160,000backlog of REO Inventory
"Fannie Mae repossessed more than 262,000 single-family homes nationally last year, and as of Dec. 31, its inventory of single-family REOs was almost 163,000". Source RIS Media 3-19=11
Many agents ask me if there is really a shadow inventory of REO properties being held back. If Fannie Mae has over 160,000 how many do you think Freddie, Ginnie, and HUD have? Now add all those in the lenders and investors inventory and we are looking at 3-5 more years no matter if defaults fall off to zero, which is not going to happen … (3 comments)
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fannie mae: NEW NUMBERS DO LIE - 06/17/10 10:25 AM
Many blogs are now being written about the dip in foreclosure numbers in hardest hit states like California, Florida, Arizona, and Nevada. Problem is that sometimes the numbers do lie. Sure the amount of properties canceled (postponed) in California have risen due to all the government intervention. Does not mean these will not become foreclosures in the next 90-120 days? Not from what the history I have tracked.
The thing that smacked me in the face two days ago while searching the new listings in my MLS was that of the 14 new listings, 11 were either HUD, FANNIE, or FREDDIE. … (3 comments)
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fannie mae: WANTED FANNIE MAE PROPERTY MANAGERS - 11/07/09 04:32 PM
The housing front ain't pretty this morning check out the latest Loan to Lease Program from Fannie Mae, the lender of last resort (not coincidentally now the largest dealer of U.S. home loans) turned in a $19 billion quarterly loss yesterday. Surprise, surprise... its government receivership has made Fannie WORSE, as it is now forced to accept more bad loans and participate in foreclosure prevention programs -- the two major sources of its third-quarter loss.
Moments after its earnings announcement, Fannie asked the government for another $15 billion bailout. It'll get it, which will bring its taxpayer tab up to $60 billion. The … (1 comments)
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C J Johnson, Broker Owner-REO Manager CRS, ABR, SFR, NCHS, CBRS
Tehachapi,
CA
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Directors Realty
Office Phone: (800) 257-3557
Cell Phone: (661) 972-4401
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