Safeguard Lost FNMA (REO GRASS) - REO Property Preservation Forum
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post #1 of 62 (permalink) Old 06-22-2015, 05:48 PM Thread Starter
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Thumbs down Safeguard Lost FNMA (REO GRASS)

So i get an email today that SG is transitioning out of servicing Fannie Mae in REO GRASS only in the follow states CT, DC, DE, MA, ME, NH, NJ, RI and VT. That is a hell of a kicker for me since 85% of my REo grass is FNMA. Any others feeling this? Anyone actually contract for FNMA on the grass side? Looking to see how hard it is to become a vendor for them...thanks!
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post #2 of 62 (permalink) Old 06-22-2015, 06:57 PM
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Well, that didn't last too long. It seems no one will work

for them these days. Huh!
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post #3 of 62 (permalink) Old 06-22-2015, 08:04 PM
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grass cuts

safeguard lost the contract with fannie one of my clients informed me he was at a conference last week in texas with fannie from my understanding fannie will hire their own contractors now to do property preservation and not use a national
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post #4 of 62 (permalink) Old 06-22-2015, 10:52 PM
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safeguard lost the contract with fannie one of my clients informed me he was at a conference last week in texas with fannie from my understanding fannie will hire their own contractors now to do property preservation and not use a national
Any more details on this? I find this a tad bit hard to believe. Is this for a one state trial run? REO or PPO? What is the brokers involvement? I just don't see FNMA taking on the burden of adding lots and lots of contractors.

I've been working on a few rehabs for the FNMA broker in my area. He never once mentioned anything like this



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post #5 of 62 (permalink) Old 06-23-2015, 01:17 AM
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safeguard

he mention this to me on Sunday and now I am reading this post so I cant personally speak because I never worked for safeguard but from what he said it was just flat out fannie and safeguard are no longer going to be working together so I don't know if stopping grass cuts is the first step but to me it seems what my client told me is correct at least to some extent.
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post #6 of 62 (permalink) Old 06-23-2015, 02:57 PM
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he mention this to me on Sunday and now I am reading this post so I cant personally speak because I never worked for safeguard but from what he said it was just flat out fannie and safeguard are no longer going to be working together so I don't know if stopping grass cuts is the first step but to me it seems what my client told me is correct at least to some extent.
Not accurate.
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post #7 of 62 (permalink) Old 06-23-2015, 09:56 PM Thread Starter
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Any more details on this? I find this a tad bit hard to believe. Is this for a one state trial run? REO or PPO? What is the brokers involvement? I just don't see FNMA taking on the burden of adding lots and lots of contractors.

I've been working on a few rehabs for the FNMA broker in my area. He never once mentioned anything like this
All i know is that the REO GRASS contracts are gone. SG will still do P&P Grass with Fannie. I DO NOT know anything more about other services we preform on houses. My big question is how can FNMA take on so many more contractors...or will they move to someone else to grass coverage? Any one have any info on this?
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post #8 of 62 (permalink) Old 06-23-2015, 11:38 PM
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My guess is someone else, Cypricks, The siblings, MCS, etc. underbid and over promised FNMA that they could do better than Screwguard. The P&P musical chairs starts up again......



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post #9 of 62 (permalink) Old 06-24-2015, 11:05 AM
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my guess is someone else, cypricks, the siblings, mcs, etc. Underbid and over promised fnma that they could do better than screwguard. The p&p musical chairs starts up again......
and round and round we go...........
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post #10 of 62 (permalink) Old 06-24-2015, 09:14 PM
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My guess is someone else, Cypricks, The siblings, MCS, etc. underbid and over promised FNMA that they could do better than Screwguard. The P&P musical chairs starts up again......
assreo
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