Kenzi Hansen (Agent Professor)

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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Take a mortgage lender to lunch once you get your license, or before.

Jan 18, 2017 02:33 PM
Rainmaker
1,996,554
Richard Weeks
Dallas, TX
REALTOR®, Broker

As an agent you do not get involved with them.  They are associations established by the government to help promote home ownership.  An explination at about 30,000  feet is they buy loans package them and sell on the open market, with payment guaranteed by the US Government.

Jan 18, 2017 02:21 PM
Rainmaker
1,735,238
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Financing issues that I don't deal with. How can I refer or use them? I don't finance any buyers.

Jan 19, 2017 04:27 AM
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Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kenzi Hansen - I do not work with them directly.

Jan 18, 2017 10:12 PM
Rainmaker
3,022,413
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Government backed loans.  I leave this up to the lenders.

Jan 18, 2017 08:30 PM
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Fred Griffin
Frederick Griffin, Exclusive Buyer's Broker - Tallahassee, FL
Licensed Florida Real Estate Broker

       Quasi-Governmental agencies similar to the Post Office.  They claim that they are "not" the Federal Government", but of course they are. 

Jan 18, 2017 05:02 PM
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

They operate in the secondary market and buy pools of mortgage securities. Other than underwriting guidelines on loans for your buyer, you will not be aware of their operations.

Jan 18, 2017 04:27 PM
Rainmaker
2,146,833
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

No, No and no. Basically when buyers get a mortgage, the bank most often sells the loan on the secondary market. Meaning that your buyer will have to qualify within their guidelines, but a loan officer most likely will pre qualify and explain this to your buyers. 

Jan 18, 2017 03:06 PM
Rainmaker
135,502
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We think of Fannie and Freddie as insurers of loans. During the housing crisis, we had many foreclosures from Fannie and Freddie which turned into opportunities, mostly for first time homeowners.

Jan 18, 2017 02:14 PM
Rainmaker
2,086,227
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I never understood this before, during or after the exam or even while practicing Real Estate. I know it means something to somebody out there

Jan 18, 2017 01:45 PM
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Bob Crane
Woodland Management Service - Stevens Point, WI
Forestland Experts! 715-204-9671

They are the govt welfare programs that drive much of the lending for homes in this country.  Most conventional loans are designed to fit into their criteria.

Feb 07, 2017 11:03 PM
Rainmaker
427,507
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

Yes, these are names you will hear and use your entire career.

Jan 22, 2017 06:06 PM
Rainmaker
2,836,240
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Usually the lender is the only one that knows these entities.

Jan 20, 2017 01:58 PM
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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Richard Weeks has a great answer. You really don't need to worry about them. 

Jan 19, 2017 07:09 PM
Rainmaker
2,066,697
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Not in your wheelhouse! They are a source of purchasing loans from primary lenders!

Jan 19, 2017 04:52 PM
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John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Costa Mesa, CA
#MortgageMadeEasy Costa Mesa, CA 484-680-4852

 Fannie & Freddie are government sponsored entities (GSE) that allow the sale/purchase of mortgage backed securities ----- Ginnie plays a similar role for FHA loans through HUD.

 

Each entity establishes guidelines on originating & delivering mortgage loans for sale, but they do not have a direct impact on real estate agents in any way, aside from what loan products their clients may have access to, and at what rates.

 

Once licensed, you'll primarily focus on finding good lenders/loan officers to refer your clients to ---- these lenders should have access to a wide range of products offered by Fannie, Freddie, and Ginnie, and not tack on additional restrictions beyond the guidelines set forth by those entities.  

Jan 19, 2017 03:21 PM
Rainer
218,262
Ron Climer
Keller Williams Realty Mountain Partners - Tryon, NC

Fannie Mae and Ginnie Mae and Freddy Mac are part of the vital information that we teach in real estate school.  Once you pass your exam, you will never need to know anything else about them.  

If you get involved with REO and short sales, you may learn that they have a slight effect on your life. 

 

Jan 19, 2017 12:12 PM
Rainmaker
813,455
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I've never dealt with them.

Jan 19, 2017 11:31 AM
Rainmaker
1,211,654
Sandy Padula and Norm Padula, JD, GRI NMLS#1483386
Realty One - Carlsbad, CA
Presence, Persistence & Perseverance

Chapter 5, Secondary Markets and Mortgage Finance

Jan 19, 2017 11:06 AM
Rainmaker
2,279,685
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

Types of loans are in a lenders wheelhouse.  The lender works with the buyer and discusses various loan types and which loans they qualify for.  As an agent, I am not directly involved in that process.

Jan 19, 2017 09:11 AM
Rainmaker
825,404
Les & Sarah Oswald
Eastvale Team Realty & Property Mgmt - Eastvale, CA
Broker, Realtor and Investor

They are lenders family members...lol

Jan 19, 2017 08:34 AM
Rainmaker
3,529,442
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

They are the secondary market for mortgages.

Jan 19, 2017 06:02 AM
Rainmaker
524,607
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

They are essential organizations that support the purchase of real estate.

Without them, the real estate market would be so small 90% of existing agents would be working at Big Lots.

However, it is highly unlikely an agent/broker will ever work directly with these organization UNLESS their business model was selling foreclosed real estate.

Jan 19, 2017 05:37 AM
Rainmaker
3,384,302
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

others have answered.

Jan 19, 2017 05:33 AM
Rainmaker
2,179,914
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Richard Weeks nailed this one!

Jan 19, 2017 04:45 AM
Rainmaker
1,140,679
Marc Swartz, CPA, CA, Real Estate Broker
Royal LePage Vision Realty, Brokerage, Direct: (416) 737-9800, Office: (416) 321-2228 - Toronto, ON
Toronto, Durham & York Regions, Ontario, Canada

We do not have any Crown entities operating under those names in our great land.

Jan 19, 2017 04:43 AM
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Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

They are a loan family for America

Jan 19, 2017 04:07 AM
Rainmaker
421,668
Paul Antonelli
NextHome Antonelli Realty - Saint Cloud, FL
Broker Owner; NextHome Antonelli Realty

i like Joes answer

Jan 19, 2017 04:02 AM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Visit the websites for all of the information you may need. You need to be aware of the available mortgage financing programs.

Jan 19, 2017 03:54 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Kentz,

Take Joe Pryor 's advice.  You can make a friend who may become an excellent resource for you.  A

Jan 18, 2017 10:18 PM
Rainmaker
555,425
Thomas J. Nelson, Realtor, CRS
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

Agree with Richard Weeks Yes we work with them but more so as lenders not Realtors in a direct fashion.

Jan 18, 2017 07:28 PM
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Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

There are some good answers but Richard Weeks  gets my vote. Joe Pryor has a good idea I think

Jan 18, 2017 06:11 PM
Rainmaker
878,488
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
The Susan & Mindy Team...Your Concierge Agents

I think it is important to be able to have a working knowledge so if you have a client who happens to ask this question, you will have a good answer.  I wouild suggest going to lunch or coffee with a lender or two and learn some basics about the mortgage market as that information will be invaluable to you as an agent.

Jan 18, 2017 04:12 PM
Rainmaker
2,923,238
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Richard Weeks gave the best answer.

Jan 18, 2017 03:52 PM
Rainer
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Caroline Gerardo
Eagle Home Mortgage, LENNAR HOMES Home Loans - Newport Beach, CA
C. G. Barbeau the Loan Lady

Fannie and Freddie are similar government  agencies that once were publically traded companies that are the bulk of the secondary mortgage market. They were taken over by our government after the crash. Ginnie is USDA loans  Lenders deal with them more than realtors, but this is the main source for loans in the US

Jan 18, 2017 03:38 PM
Rainmaker
1,277,556
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Richard Weeks gave you a great answer.

Jan 18, 2017 03:23 PM
Rainmaker
2,049,446
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

It is good to know a little about them but have your lender explain them.

 

Jan 18, 2017 03:04 PM
Rainmaker
1,205,368
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Kenzi Hansen Richard Weeks has this one.

Jan 18, 2017 02:43 PM
Rainmaker
812,944
Corinne Guest, Managing Broker
Barrington Realty Company - Barrington, IL
The Choice of Professionals

Rarely. Only basic knowledge of.

Jan 18, 2017 02:39 PM