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#294448 - 06/11/09 12:07 PM New Fannie Mae broker questions
reoservice Offline
Junior Member

Registered: 06/11/09
Posts: 2
Loc: GA
Hi we recently got approved as a Fannie Mae Vendor. The question is now what do we do? I have heard that we should be assigned a asset manager and I heard from others that we just wait. Can anyone explain the process to me? How do you get new assignments? Do you need to log in to AMN regularly? Thanks.

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#294495 - 06/11/09 07:21 PM Re: New Fannie Mae broker questions [Re: reoservice]
HomesBuyRomilda Offline
Member

Registered: 04/14/08
Posts: 15
Loc: Richmond, VA
Did you get on w/Fannie Mae directly? If you did I cannot see why you would need an asset manager. I have been doing Fannie Mae properties through asset companies. I have been unable to get on with them directly, however. In most cases, however, it seems you just wait. I could be wrong and would love to know that too.

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#294534 - 06/12/09 12:32 AM Re: New Fannie Mae broker questions [Re: HomesBuyRomilda]
dial1010 Offline
Member

Registered: 01/19/09
Posts: 403
Loc: CA
You just wait and wait. I'm approved with outsource company as well, not directly though.

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#294629 - 06/12/09 03:40 PM Re: New Fannie Mae broker questions [Re: HomesBuyRomilda]
reoservice Offline
Junior Member

Registered: 06/11/09
Posts: 2
Loc: GA
I am with outsourcing company and Fannie Directly.

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#307443 - 09/24/09 06:50 PM Re: New Fannie Mae broker questions [Re: reoservice]
bmoreiko Offline
Member

Registered: 10/21/08
Posts: 67
Loc: Sonoma County, California
How do you get a vendor number?

We have had several FM listings through an asset manager but just got a new one through reo trans and they want a vendor number.

Anybody?

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#307698 - 09/27/09 12:56 AM Re: New Fannie Mae broker questions [Re: bmoreiko]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1779
Loc: Missouri
reoservice: Fannie Mae sends you an email when you have a new assignment. It will be titled,"BPO Order, Case: D090xxx". it will come from the vendor desk or from name_name@fanniemae.com (name_name will be your asset manager's name).

When you get the email, log onto AMN to complete your tasks. The first task you have to complete before anything else kicks in is the occupancy check. The actual BPO clock does not start ticking until you have completed the occupancy check with VACANT as the status and a DATE in the rekey section.

You will need MultiForm software to complete your BPO when you are working a Fannie Mae direct listing.

_________________________
Broker/Owner, REALTORŪ,GRI, ABR
REO listing/selling since 2004; BPOs only for current clients

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#307699 - 09/27/09 01:06 AM Re: New Fannie Mae broker questions [Re: LizL]
LizL Offline
Major Contributor

Registered: 08/27/05
Posts: 1779
Loc: Missouri
bmoreiko: You say "they" want a vendor number. Who is they and when are you being asked for a vendor number? If you mean that the BPO form on reoTrans has a spot for a vendor number, just leave it blank. The information you put into reoTrans is used to populate the MultiForms BPO that the outsourcer actually uploads to AMN. When the outsourcer transfers your info into MultiForms in preparation for uploading to AMN, the outsourcer will put in THEIR vendor number.

You may also find a spot on the reoTrans form for the asset manager name. I sometimes leave that blank, also.
_________________________
Broker/Owner, REALTORŪ,GRI, ABR
REO listing/selling since 2004; BPOs only for current clients

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