Instanet Solutions and zipForm provider zipLogix have added Fannie Mae offer documents to their form libraries, allowing real estate agents to access offer documents on HomePath properties alongside their local sales contract through the agent’s multiple listing service or Realtor association. Agents and their clients can then sign offer documents electronically and submit the offer through HomePath.com.
Fannie Mae said it expects to work with additional vendors to provide similar paperless services to more real estate professionals across the country, helping avoid errors and sell more HomePath properties — homes repossessed by Fannie Mae loan servicers after going into foreclosure and becoming "real estate owned," or REO.
"These enhancements will make Fannie Mae’s REO sales process more streamlined and user-friendly for buyers and agents," said Jay Ryan, vice president for REO dispositions, Fannie Mae in a statement. "Our goal is to sell as many HomePath properties as we can to owner-occupants who will help stabilize their community."
In February, Fannie Mae announced that all offers on HomePath properties would be routed through its online offers system. In the first half of 2012, the mortgage giant sold 100,745 HomePath properties, reducing its inventory of REO properties by 33 percent from Jan. 1, 2011.