Fannie Mae Rolls Out Online-only REO Offers

If you’re working with a buyer who’s interested in submitting an offer for a Fannie Mae REO, you’ll have to do it online. The secondary mortgage market company last week launched an all-online system for submitting offers on its inventory of foreclosed homes.

Here’s how Fannie describes it on its HomePath website:

“Making an offer to purchase a HomePath property is now quick, easy and entirely online! Beginning February 2, all offers on HomePath properties must be made using the HomePath Online Offer system. If you’re ready to make an offer, just have your real estate professional click the “Make an Offer” button on the property information and follow the instructions.”

Only licensed agents can make offers, so any consumers shopping for a home on Fannie’s HomePath site have to contact an agent first.

If you’re not already registered as an agent with the site, you’ll need to do that, then click the “Make an Offer” button and follow the instructions. You’ll have to be able to scan documents and otherwise be prepared to input information digitally.

Registering with the site so you can submit offers as a selling agent is not the same thing as registering with Fannie Mae as an approved listing agent. That seems obvious, but sometimes it helps to state the obvious to avoid confusion. To become a listing agent for Fannie Mae in your market, you have to submit an application (also an online process) and then go through its proprietary selection process, which requires you to submit information about your practice. Every market is different, but generally the company works with a handful of brokers or agents that it has selected to list its REO properties.

The company says it pays a commission of 2.5 percent to the listing broker, with a $1,000 minimum, and a commission of 3 percent to the selling broker, also with a $1,000 minimum. It says it has some additional selling incentives in some markets.

Fannie gives owner-occupant buyers a 15-day window after a property comes on the market to make an offer without competition from investors. Offers made by investors during that “first-look” period are rejected from the system with instructions to resubmit after the 15-day period ends, if the property isn’t under contract by that time. The offers are not kept in the system and queued up.

Buyers can use any financing they want, including Fannie Mae financing through its two HomePath mortgage programs, one for purchases and one for purchases with renovation. If the buyer is using HomePath financing, Fannie only requires a downpayment of 3 percent, waives the appraisal and also doesn’t require mortgage insurance. Investors can get up to 90 percent financing.

You can learn more about online submissions on the Real Estate Professionals’ page on the HomePath website and click on “HomePath Online Offers Support page.”

Robert Freedman

Robert Freedman is director of multimedia communications for the NATIONAL ASSOCIATION OF REALTORS®. He can be reached at

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  1. I’d like to be an approved realtor to work with Fannie Mae Home Path.

  2. This should be a nice improvement in shortening the time to have a home buyer’s offer reviewed for a foreclosed property.

  3. Hopefully this will speed up the whole process a bit. I really hope they have adequate staff to handle these offers.

  4. This has helped make the process a lot easier for sure!

  5. I used the new online feature last week and it was FANTASTIC! It was very easy to do and only took me about 20 minutes to submit the entire offer. Now to see how long it takes to get a response back…..I will keep you posted!

  6. Vicky Rhodes

    I understand you have to deliver original signatures within 48 hours of mutual acceptance, but can you use electronic signatures on original offers?


  7. Hi Vickie. fannie mae at this time does not accept electronic buyer signatures.

  8. Mina Ruiz

    This is a great change, at least we have a chance now that our offer is going to actually be viewed and if is the highest offer we have a chance to get the property.
    Somebody is starting to use their brains.

  9. In response to the question above, all FNMA docs must use wet signatures only. They will not accept any forms of docisign or digital signature. A great product for you of interested in getting and sending signatures on the fly is called “touch-fill-go” and you can sign literally right on your iPhone or iPad screen! Perfect for things like this!

  10. This is a good program for home owners as well as for the Realtors who need listings and works. I have come across a transaction that has felt through due to the Fannie Mae didn’t approve the offer that was $20000 higher than the market value of a similar home at the subdivision. What can be the reason, there’ s not other buyer since it’ s still available in the market? If I interest of listing of these homes and sign up for it how soon do I get contacted by Fannie Mae Home Path, or my broker is the direct contact?

  11. Pattyann Grubbs

    This sounds good! we will have to see when offers start going in, how things go. cross your fingers! I am looking for referrals if you would like to send me anyone,
    Thank you!

  12. Jennifer Fortune


  13. The site is easy to use . There is also a step by step video if needed.
    So far no issues !

  14. I submitted an offer and received a response in two days! I can’t even get a call back from the agent in a week. I think this is a big improvement!

  15. Cara

    just submitted an offer online – hoping this doesn’t take long.

  16. Nora Green

    I liked the idea of being able to submit offers online on the Fannie Mae properties.
    I represented a buyer and we made an offer on one of their homes. Once the offer
    was completed online it had to be printed out along with the owner occupant
    certification and the local forms etc. In all it came to 25 pages of documents that
    needed to be signed and/or initialed, scanned and submitted. 5 or so days later
    I was notified that there were multiple offers and I had to present “highest and best”.
    I was informed that the entire offer with all addendums needed to be sent again.
    Another 25 pages of documents printed, signed, initialed, scanned and sent and
    after another week we were informed that we didn’t get the house. There were at least 2 offers so Homepath had a minimum of 100 pages of documents for one property. Seems this process could be streamlined a bit. Perhaps not having to have all 50 or so pages before the offer is accepted??

  17. Nora, what was the repsonse that you got when your offer wasn’t accepted? Did it just say “Your offer on the following listing in HomePath has been rejected:”

  18. Ricardo Dusten

    It’s taking over 3 weeks for fnma to sign off on an amendment. What a joke!!

  19. Ose Burnett

    Can a realtor submit an offer for themselves, or do I have to use another realtor to purchase a Fannie Mae home?

  20. then go through its proprietary selection process, which requires you to submit information about your practice. Every market is different, but generally the company works with a handful of