In a new policy announcement, Fannie says it will now accept purchase offers for its REO immediately after listing,

By
Real Estate Agent with JustListedKnoxville.com / Signature Homes

Mortgage giant Fannie Mae is unhappy about the mounting thousands of REO houses it's stuck with, but now it's moving to sell off that inventory faster than it has in the past, potentially opening up some interesting opportunities for home buyers and their agents.

http://realtytimes.com/rtpages/20100111_washingtonreport.htm

Comments (3)

Pat O'Reilly
RE/MAX..214-289-6176 Irving and all of Dallas Fort Worth - Irving, TX

Steve..thanks for the heads up. Hopefully this will happen and they can make it easier and faster.

Jan 10, 2010 11:28 PM
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

I saw that. I'm not sure why you don't get points for this post, there is nothing wrong with linking to a news story with a little bit of your own commentary.  

Jan 10, 2010 11:28 PM
Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC

This contradicts the Family First program that they announced. Im sure some REO agents are foaming at the mouth to steal a few.

Jan 10, 2010 11:47 PM