Freddie and Fannie to open doors to new agents for REO listing assignments
Last week, National Association of Realtors President Mr. Charles McMillan sat down and spoke with the CEO of Freddie Mac, John Koskinen and Fannie Mae's CEO, Herb Allison to discuss Realtors concern that Fannie and Freddie are not fairly disseminating REO listings.
Both CEO's agreed that they would comply in broadening Realtor participation in assigning future REO Listings. Although the total REO inventory of Freddie and Fannie is not known, it is estimated to be 50% of all foreclosure inventories nationwide.
The National Association will be posting how to take advantage of this historic opportunity in their Washington Report next week. More details on the meeting can be found on NARs web site.
This is a monumental development for Realtors that have been trying to break into the REO business. Mr. McMillan deserves a ton of credit for listening and acting on the concerns and welfare of the vast majority of his constituency.
Are you ready to seize this opportunity? It is highly probable that new Northern VA agents will be screened prior to receiving REO assignments. Agents that have not taken the time to educate themselves are likely to miss out on this once in a career opportunity.
Sent on the Now Network� from my Sprint® BlackBerry
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