Fannie Mae Opens CA & FL Offices to Dispose of REOs

By
Real Estate Agent with Wilson Than Real Estate

The impact of the foreclosure crisis has led Fannie Mae to the conclusion that it needs to have a presence on the front lines. The company will be opening offices in California and Florida to be close to the areas with large inventories of foreclosed properties.

From the August 8, 2008 Fannie Mae conference call transcript, Daniel Mudd said:

“We're opening on-site offices in two of the more challenging states - Florida and California - with the intention of reducing defaults and managing our REO in those states. Real estate is at some level local it makes sense to be local.”

There are links on the Fannie Mae site if you’re interested in working with the company as an employee or as a contractor.

If you’ve had experience in working with Fannie Mae REO listings (either side of the transaction), please share your stories!

Comments (2)

Rebecca Schrader
Competitive Insurance of Dundee - Dundee, FL

Hmmmm, how would they reduce defaults by being in our state?  I welcome the idea, but question it's potential.

Aug 14, 2008 06:11 AM
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

Howard:  I see you have not posted in quite awhile but since you commented on my post I wanted to stop by yours.....are you swamped with Fannie Mae Listings????    I am in the phase II process of their registration....Hopefully, I will be granted some coveted Fannie Mae Listings!!!!!   I really want some very bad!!!   Maybe you can put in a good word for me down here in Temecula!!!   :)

Mar 03, 2011 02:49 PM