Fannie Mae Improves Offer Process for HomePath Foreclosures

The buying process to purchase Fannie Mae foreclosures should be easier due to enhancements to HomePath, the GSE’s foreclosure website.

On Tuesday, Fannie Mae announced real estate agents can access Fannie Mae offer documents alongside the local sales contract in approved forms libraries.

Agents and homebuyers can also sign offer documents for HomePath properties electronically.

“Instead of filling out forms by hand and scanning them in, agents and buyers have the option to access and complete the documents in a forms library, sign them electronically and submit the offer through HomePath.com in a much more efficient process,” explained Jay Ryan, VP for REO dispositions at Fannie Mae.

The changes to HomePath also gives agents the most recent Fannie Mae forms for their jurisdiction. Fannie Mae stated it has worked with Instanet and Zipform to include Fannie Mae forms to their forms libraries, and the GSE expects to work with additional vendors so the service can be offered to more agents.

“Our goal is to sell as many HomePath properties as we can to owner occupants who will help stabilize their community,” said Ryan.

In the first half of this year, Fannie Mae sold 100,745 HomePath properties and inventory has been reduced by 33 percent since 2011 until the second quarter of this year.

Source: DSNews.com

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