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I'm new to the site so I hope I am not breaking any rules.

My latest quest in the REO world is acceptance into the Fannie Mae Broker network. Would anyone happen to know how the Sales Representatives are assigned properties? Is it geographically? If it is then it would be possible to determine which Sales Rep's cover my area. Then i would know who I need to solicit.
Thank you to anyone who would be kind enought to share some insight!

Lorraine

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You are ahead of me on being accepted, any tricks I can use! I have been on the Homesteps Selling agent list for a couple of years, and keep hearing that they will call me when the area opens up. One local broker pretty much had a lock on the area, and now they are also scratching their heads, as a new broker from somewhere in the metro area 70 miles away is all of a sudden getting a lions share of the listings. None of us has ever heard of them before!
Yeah I have heard that alot. But I've also seen in my area that Fannie is opening up the broker network to let more agents in in order to 'spread the wealth' which is only fair if you are a quasi government agency.
Lorraine, you can apply online at eFannie.com, npdc vendor application. Print it first, it is long. You'll need to provide references from other lenders you have done REO for. You can also register at homepath.com and they'll email you properties in your area, as they are listed, or soon to be listed, which can give you a head's up before they hit the mls. good luck.
Thanks for the reply Billie,
I am in the process of submitting the application. I'm just waiting for my contact to tell me the best references to use. I know this is just the beginning and the application will sit there unless I have the right references and the name of the sales rep at Fannie Mae that will be assigning listings in my area.

So my key question is how to determine who the sales rep is for the San Diego area.

Do you have any ideas on how to go about obtaining this information?

Thanks,

Lorraine

ANy
When you're accepted, do they send the email in the name of your broker? Because that's what they did for me. It says hi Ken and the log in is his name. I filled in my name for listing contact I believe. Is there something wrong here? Anyone? Thanks.
Fannie deals directly with the broker.
Ok so hypothetically, if they send over an assignment it's ok if it's in my broker's name but I list it? It's not even in my company's name...so and so Realty..it's in the actual broker's first and last name.
Hi Lorraine,
So any luck with figuring out how to get ahold of the rep for your area?
If you did please le me know. I've been trying myself. If i do figure it out i'd be sure to share.
We're in separate areas so... nothing to worry about...
thanks
I would like that info also. Im in the Denver Metro area and it is the same thing here. One agent seems to have most of the listings. I guess the reason its so hard to break in is it is the Goverment!
Daniel,

Can multiple office brokerage firm may have different agents working directly with FM or just one per the whole company?

Thanks,
Lorraine
Did you ever have any luck?
Lorraine just wondering if you had any luck?

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