Fannie Mae has expanded its online platform to collect and manage real estate offerings for its HomePath properties throughout the country.
The government-sponsored enterprise launched a pilot program to test an online offerings platform in Orlando, San Diego and Detroit in November 2010. After seeing success with this platform in these three markets, Fannie decided to make this feature available for all of its HomePath properties nationwide.
HomePath properties are owned by Fannie Mae and include a wide selection of properties, including single-family homes, condominiums and town houses. There are more than 120,000 REO homes in the GSEs inventory through the end of the third quarter.
“Collecting offers online through HomePath.com will provide greater transparency for homebuyers and their agents,” said Jay Ryan, vice president for REO at Fannie Mae. “Our online platform will make it easier to sell properties to owner occupants, which is a major factor in helping to stabilize communities across the nation.”
Real estate agents will now submit offers online for their clients and receive receipt confirmation and track the status of the submitted offers on the HomePath website.
According to George Philbeck, a real estate professional with Keller Williams Advantage II Realty in Orlando, online offers are more efficient, informative and user-friendly.
“With online offers, my clients’ offers are guaranteed to make it to the right person at Fannie Mae for review,” Philbeck said. “It has worked very well for me and for my clients.”
