Fannie Mae Expands Online Offers for HomePath® Properties

WASHINGTON, February 7, 2012 /PRNewswire/ --

- Online Collection of Purchase Offers Provides Efficiency for Purchases of Fannie Mae-owned Properties

Today, Fannie Mae announced the expansion of its Online Offers system to collect and manage real estate purchase offers for Fannie Mae-owned properties across the country. Real estate professionals will now submit offers online on behalf of clients, receive receipt confirmation and track the status of submitted offers through the HomePath.com website.

In November 2010, Fannie Mae launched the Online Offers pilot in Orlando, FL, San Diego, CA, and in Wayne County, Detroit, MI to develop the platform and make any necessary improvements. The Online Offers feature is now available for all properties on HomePath.com across the nation.

"Collecting offers online through HomePath.com will provide greater transparency for homebuyers and their agents," said Jay Ryan, VP for REO at Fannie Mae. "Our online platform will make it easier to sell properties to owner occupants, which is a major factor in helping to stabilize communities across the nation."

George Philbeck, a real estate professional with Keller Williams Advantage II Realty in Orlando, has been using Online Offers since the pilot launched in 2010. "As an agent, I believe Online Offers is efficient, informative and user-friendly. With Online Offers, my clients' offers are guaranteed to make it to the right person at Fannie Mae for review. It has worked very well for me and for my clients."

HomePath homes are owned by Fannie Mae and include a wide selection of properties, including single-family homes, condominiums, and town houses. For more information on purchasing a Fannie Mae-owned property through the HomePath Online Offers system, visit http://www.HomePath.com.

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

Follow us on Twitter:  http://twitter.com/FannieMae  and  http://twitter.com/FannieHomePath.