Whats up with Fannie Mae - REO Property Preservation Forum
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post #1 of 14 (permalink) Old 06-01-2016, 12:26 PM Thread Starter
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Whats up with Fannie Mae

Morning everyone, I contract through Qualified which in turn i do work for NFN, NFR, Carrington and others. Work was goin really well except for the last 6 months. Ive noticed all trashouts on properties that are Fannie Mae ( which go thru NFN) have not been getting approved. I have about 3 that are months past since i put the 30 day personal property notice on them. All in all, i have over 15,000 dollars in bids out that are just sitting. Again, im only seeing this with fannie mae homes.

Does anyone here have the inside scoop on whats going on? Qualified doesnt even seem to know.
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post #2 of 14 (permalink) Old 06-01-2016, 08:03 PM
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As stated in another post this work is drying up fast be prepared for no work at all soon a lot will close up after this year or flat go broke.
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post #3 of 14 (permalink) Old 06-01-2016, 08:16 PM
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As stated in another post this work is drying up fast be prepared for no work at all soon a lot will close up after this year or flat go broke.
Well, I don't think there will be no work, but there will be a decrease in volume and a lot of contractors leaving the industry to go back to construction. I know of 2 larger guys in my area just switched back to construction in about the last month. We're diversifying by doing a new build and doing some rehab work on some flips. You might want to consider it.
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post #4 of 14 (permalink) Old 06-01-2016, 08:43 PM
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Yes definetly need another plan ive seen this business decrease every year dramatically since 2011 and seems to only get worse.
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post #5 of 14 (permalink) Old 06-01-2016, 10:38 PM
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So what state are you working in? We were dry for a bit, but are slammed right now.
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Originally Posted by SeanAZ View Post
Morning everyone, I contract through Qualified which in turn i do work for NFN, NFR, Carrington and others. Work was goin really well except for the last 6 months. Ive noticed all trashouts on properties that are Fannie Mae ( which go thru NFN) have not been getting approved. I have about 3 that are months past since i put the 30 day personal property notice on them. All in all, i have over 15,000 dollars in bids out that are just sitting. Again, im only seeing this with fannie mae homes.

Does anyone here have the inside scoop on whats going on? Qualified doesnt even seem to know.
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post #6 of 14 (permalink) Old 06-02-2016, 06:58 AM
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Simple search on the interwebs will give you the latest numbers by region and dates on the current condition of the market. We were doing foreclosure work in the late 90s when about one company per town was about all that was needed. This is the part of the story when the boom towns are drying up and the majority of the miners move on.
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post #7 of 14 (permalink) Old 06-02-2016, 09:33 AM Thread Starter
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So what state are you working in? We were dry for a bit, but are slammed right now.
AZ. Work is steady, Qualified is a good conpany to work for due to all the contracts they have. Still getting initial secures and grass cuts etc. Ive just noticed the problem with all my Fannie Mae homes run through NFN. We keep putting in bids and then they just sit. Some have been sitting full of junk for over 6 months getting more infested by the week. Still doing grass cuts and even getting in new ones but for some reason the trash outs arent coming.
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post #8 of 14 (permalink) Old 08-22-2016, 12:49 PM
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So what state are you working in? We were dry for a bit, but are slammed right now.
Is your work still steady? I'm in central Florida and Fannie Mae work had dwindled steadily since the first of 2015. It's as slow as I've ever seen it since 2008.
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post #9 of 14 (permalink) Old 08-22-2016, 09:04 PM
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Originally Posted by SeanAZ View Post
AZ. Work is steady, Qualified is a good conpany to work for due to all the contracts they have. Still getting initial secures and grass cuts etc. Ive just noticed the problem with all my Fannie Mae homes run through NFN. We keep putting in bids and then they just sit. Some have been sitting full of junk for over 6 months getting more infested by the week. Still doing grass cuts and even getting in new ones but for some reason the trash outs arent coming.
Josh and Tamara still over there?
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post #10 of 14 (permalink) Old 08-23-2016, 03:36 PM
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Originally Posted by SeanAZ View Post
AZ. Work is steady, Qualified is a good conpany to work for due to all the contracts they have. Still getting initial secures and grass cuts etc. Ive just noticed the problem with all my Fannie Mae homes run through NFN. We keep putting in bids and then they just sit. Some have been sitting full of junk for over 6 months getting more infested by the week. Still doing grass cuts and even getting in new ones but for some reason the trash outs arent coming.

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