24 Asset sent a letter today cancelling all CA and MI listings of Fannie as of Friday the 13th.

[Stephan K Black]

Geez, I just hate losing listings like that. This is the third listing that has been cancelled that I have had with 24 Asset. It's Fannie Mae that's doing it, not 24. But what is Fannie doing?
Just to make it funnier, I get asset manager asking me to do some new tasks on these this morning. I told her about the email,and got this email back saying well you had better do the task to increase your chances of getting the listing after we lose it... my gut feeling is the listings will go to the local Fannie agents 'cause that's how they do things.

[Stephan K Black]

BTW, it's not me it's a blanket cancellation

[Michael Thompson]

The did the same with Chrisley AM, pulled all of their FL assets on the 13th, FNMA is more then likely taking them back in-house, sucks.

[Lori McDonald]

I have a Fannie Mae with them in N.FL. they haven't pulled it, but they do not communicate well at all, maybe that's the reason they are losing them.

[Susan Cook, RDCPro, NFSTI, HRC]

Hmmm..how interesting that if you check homepath.com(where they put all the listings)there are no shortage of listings. Fannie must be having a change of the guard. I will say that First Preston all of a sudden started assigning me Fannie about 2 months ago after being on their broker panel for over a year and half with no activity.

[Ryan Whitney, RDCPro, CDPE]

Yeah, we just received a couple from First Preston too. Hopefully we'll see a lot more!

[Amber Pindak]

From what I understand Fannie Mae handles roughly 60% of their foreclosures in-house and outsources the rest. They are shifting the assets that are outsourced around so some of the companies are handling different states than what they previously did and some are no longer handling certain ones. And of course some are being brought in house. If you have assignments that are part of the shift and that are NOT under contract by this Friday then you will be notified of the change. I do not know the chances of being kept as the agent as the assignments shift. It probably depends where it goes.

[Marianna Grafel,Broker/Owner]

There is no chance....Fannie Mae has established "in house" agents who do an awful job with agents and our clients (on a buyer’s side) and they are FOREVER even they have NO criteria to be Fannie Mae vendors( same with Freddie Mac)....
This is a closed circle. FM now is taking 75% listing in the house, vs 25% before.

[Carlos H. Silva Sr.]

Banks and GSEs are servicing most of the assets they used to outsource because of low inventory.

[Corey Barnes]

I had 11 units pulled from me in Ohio from Chrisley. It was the same reason that Fannie was putting them in house. I went back two weeks later and all my listings where sent to other larger companies and to agents that are directly signed up with Fannie. I have been trying to become a direct listing agent for Fannie since 2002 and I have yet been able to get in. They have 5 agents here in Columbus OH that they send all there in house properties to.
I dont think they thought this move all the way through.......