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I have a question for any agents experienced with Fannie Mae.

I understand that Fannie Mae outsources about half of their listings and keeps about half in house. So, It's obviously important to be an approved Fannie Mae broker. I sent in our application a while ago but have not been approved and the application clearly states that they will keep it on file for 2 years and if you have not heard back then you can re-apply.

My REO team is approved with a few other asset managent co's that handle Fannie Mae listings. Some have set us up as being approved to receive Fannie Mae listings and others require your Fannie Mae ID# to be able to complete their MLA. So, my question is......

Can I receive a Fannie Mae listing through an asset management company even if I have not been approved directly through Fannie Mae?


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Yes, you can receive Fannie listings thru outsourcers without being a Fannie Direct Broker.
Thanks Debbie. Do you know if there is another way of becoming a Fannie Direct Broker other than just waiting for them to need another broker in the area and picking my application?
Ryan, it has been my experience that you will need to network and dig deep to find an in with most companies right now. There are a ton that are "keeping peoples applications on file." You can either wait it out, or work hard to find a way in... Performing well on the listings that you have received indirectly can speak volumes for you. Good luck!
You can re apply every year they do not keep them longer than one year!
I just the luck of draw!
I did re-apply and received the same response about keeping my application on file until my services might be needed.

However, I did receive 2 new Fannie Mae listings from a separate AM company! It's been a crazy couple of days trying to learn all the requirements and complete all of the tasks by myself (2 of my REO team members were conveniently out of town this weekend).

Looks like all the hard work is starting to pay off. It's also been a HUGE benefit to read all the comments and tips from the more experienced REO agents, Thanks!
Great news Ryan, now you can say you have Fannie experience if called for interview for Fannie Direct. Do you have MultiForm software yet?
No, I don't have MultiForm software yet. I was told that I don't need it.
I just received 2 fannie mae listings here in Texas and I had to buy the multi form to submit my bpo's on and the forms cost right at $500.00. Good luck!
You don't need it if you get listings thru outsourcers, but I have bought it after Multiform people told me that they have database which they send to companies notifying them who has purchased software.
So do you feel you experienced an increase in new Fannie Mae listings (directly from FM and Outsourcers) after you purchased the MultiForm software?
Anyone else have an opinion on this?
I paid for multisource since last year when I got my first fannie listings, and having multiforms hasn't helpe me get more listings. They are trying to sell as much as they can now, because soon Fannie wont be using them anymore. Save your money Linda.


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