When buying a HomePath home, you are dealing with homes that may or may not have been lived in recently, as many of these homes are foreclosures, deed-in-lieu of foreclosures, or forfeitures. When purchasing a home that isn’t a HomePath property, you usually are working directly with the seller who currently resides in the home through the use of a real estate agent. How is Buying a HomePath Property Different from Other Properties? This just means that homeowners will give the ownership back to Fannie Mae to be released from mortgage loan payments.
When a foreclosure occurs on a Fannie Mae property, Fannie Mae does everything possible to sell the property in a time-sensitive manner to reduce the community impact.įannie Mae also acquires properties to sell through deed-in-lieu of foreclosure. Sometimes, though, foreclosure is unavoidable. One of Fannie Mae’s biggest goals is to prevent foreclosures from happening through working with housing counselors and mortgage servicers. Why Does Fannie Mae Have HomePath Properties For Sale?
Some HomePath homes are move-in ready, while others may need to have some repairs done before having occupants moving in. has townhomes, single-family homes, and condominiums available throughout the nation, and are easily searchable by city or county. Many of these properties are foreclosed homes and many offer a lower than market price, making HomePath homes an excellent opportunity for first-time homebuyers and investors. HomePath refers only to properties that are owned by Fannie Mae. is the website where you can find all of the Fannie Mae HomePath properties available. HomePath mortgages give borrowers the option to have mortgages backed by Fannie Mae and offers the opportunity to get a HomePath renovation loan, allowing borrowers to include basic renovations needed to make the home liveable. HomePath is the brand used for any property that is owned by Fannie Mae. Also contact the Resource Center for further assistance by calling at 1-80.What is HomePath? By Liz Clinger Updated on For more comprehensive information on Fannie Mae stock, guidelines, loans, student loans, loan lookup, bailout, forms and grants, one may visit the official website of the agency. Fannie Mae also suggests several options to avoid home foreclosures such as refinance, forbearance, modification, short sale, deed-for-lease, and deed-in-lieu of foreclosure. They provide exclusive information and contact numbers of mortgage help centers for those borrowers who are most likely to face foreclosure.
#Website for fannie mae foreclosures mac
Associate General Counsel, Government Initiativesįannie Mae and Freddie Mac work hand in hand to reduce the rate of home foreclosures in the United States.Senior Business Analyst, Risk Governance & Controls (Defined Duration Assignment).eBusiness Development and Implementation Manager.Some of the current job openings with Fannie Mae are for the post of: The work locations of the corporation can also be found in several places that include Dallas, Atlanta, Chicago, Philadelphia, Washington, Pasadena and many others. Fannie Mae has a large number of job openings in its lines of business from time to time. Single Family, Capital Markets and Housing and Community Development.
The company operates three primary lines of business, i.e. James Lockhart, the director of Federal Housing Finance Agency also announced FHFA as the conservator of Fannie Mae on 6th September, 2008.įannie Mae brings a huge variety of jobs and career opportunities for bright and talented job seekers available in the market.
In the same year, the company created Freddie Mac (Federal Home Loan Mortgage Corporation) to facilitate a more efficient and stronger mortgage market. In 1970, Fannie Mae was authorized by the federal government to buy private mortgages, which were not insured by FHA, FmHA or the VA. Later in 1968, the agency was chartered by the Congress and it was converted into a private shareholder-owned company. Rather than offering home loans directly to the consumers, the company works with brokers, mortgage bankers and several other mortgage market partners to make sure that sufficient funds are available to lend at affordable rates to potential home buyers.įannie Mae was originally founded in 1938 as a federal agency to build a better secondary mortgage market. Fannie Mae mainly works in the secondary mortgage market of the country. The main objective of the company is to maintain liquidity, stability as well as affordability in the US mortgage and housing markets. Fannie Mae is also commonly known as Federal National Mortgage Association (FNMA) and it is a government sponsored enterprise founded during the time of the Great Depression.
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