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Discussion Starter #1
I do a lot of work for a realtor who does about 85% Fannie Mae, although I am not a SAMS vendor. Is everyone noticing Fannie work slowing to a crawl or is it just (central) Florida?
 
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Discussion Starter #2
Now it's called the calm before the storm. Isn't this supposed to be the year the banks liquidate homes.
 
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Discussion Starter #3
JustaFramer said:
Now it's called the calm before the storm. Isn't this supposed to be the year the banks liquidate homes.
You would think but I've been hearing that "calm before the storm" routine for two years now. Never been this slow......
 
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Curb Appeal REO said:
You would think but I've been hearing that "calm before the storm" routine for two years now. Never been this slow......
We are talking record foreclosures from last years records. Coupled with the last 5 months of depreciation on home values.
 
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Discussion Starter #5
JustaFramer said:
We are talking record foreclosures from last years records. Coupled with the last 5 months of depreciation on home values.
Exactly. So where's the work??? It may just be Florida --- we're a judicial foreclosure state and we've had huge problems with robo-signing fraud.
 

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I'm actually buried this week.

Not necessarily Fannie work tho.
 
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Discussion Starter #8
We have slowed with Fannie PP work but have picked up a ton of all different kinds of inspections, maybe its due to the "Lets try to work something out so you don't loose your house". Which is really good for the people. Unfortunately if that doesn't work then I guess the PP work will pick back up.
 
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Discussion Starter #9
Been swamped with Fannie for the last 3 years non-stop! Fannie hasn't slowed down but maybe some contractors have? Dunno.

The only time we got "slow" we reduced about 20% was during the 3 month moratorium we had in our State but they still serviced the homes and fixed/repaired the damage.
 
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Discussion Starter #10
Hmm...sounds like Fannie vendors outside of Florida are busy. I guess it is the fact that we're a judicial foreclosure state and all the robo-signing news that's been out lately.

Thanks for the feedback.
 
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Discussion Starter #12
thanohano44 said:
Either that or a larger regional has all of the work.
There is a national that does a lot of the initial work but it is my understanding that the Fannie reps are not happy with them....and the brokers really can't stand them. I can't see Fannie increasing what they send to them.
 
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Discussion Starter #13
Curb Appeal REO said:
There is a national that does a lot of the initial work but it is my understanding that the Fannie reps are not happy with them....and the brokers really can't stand them. I can't see Fannie increasing what they send to them.
So who's the National?
 
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Discussion Starter #14
Talked to broker client yesterday. She said that everything is very hush-hush so something must be brewing. Unusual because there's usually some chatter to be heard. She said Fannie has been complaining a lot lately about repair costs.
 
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Discussion Starter #15
Still very quiet. Not a complete dead stop but close............:cry:
 
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Discussion Starter #18
Get down and sign up with Home Despot for the Fannie Repair work.

If your State has started this yet? Good luck.
 
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Discussion Starter #19
FremontREO said:
Get down and sign up with Home Despot for the Fannie Repair work.

If your State has started this yet? Good luck.

Don't know what you referring to. Home Depot???

Can't find anything through Google in refernece to any deal between Home Depot and Fannie Mae.
 
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Discussion Starter #20
I haven't been able to verify it either but I have certainly heard chatter regarding such.
 
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