#Who handles fannie mae foreclosures how to
#Who handles fannie mae foreclosures professional

There is a variety of online real estate schools that offer continuing education courses that can fit perfectly into an agentвЂ™s busy schedule. For example, the National Association of REALTORSВ® (NAR) has a Short Sales and Foreclosure ResourceВ® certification.

#Who handles fannie mae foreclosures professional

These professional credentials can then be used in marketing, business cards, and email signatures, designating the agent as an expert resource to their clients as well as lenders and government agencies. Most state real estate industry trade associations offer certifications and designations an agent can get to learn new specialties and gain relevant credentials.

#Who handles fannie mae foreclosures how to

In addition to market knowledge, continuing education about how to get foreclosure and REO listings can help real estate agents obtain and perform better on these listings. This leaves a gap for agents to build the necessary relationships to get foreclosure listings once the moratorium ends and they become available. Although it seems like a daunting statistic that might discourage agents from approaching this niche, because of this momentary pause, there is a large backlog of properties that will be foreclosed on once the moratorium is over. The 2020 pandemic saw an all-time low for foreclosure rates, partially due to a government moratorium stopping most foreclosure activities. As filings increase, so do the rates of foreclosure, which indicates there are more opportunities for real estate agents to obtain listings through marketing and outreach efforts. Varying trends can help you identify when there is an opportunity to obtain listings, and also give you the ability to pitch for these listings more effectively using data-driven information.ДЄccording to ATTOM Data Solutions, there is a distinct correlation between foreclosure filings and foreclosure rates. The housing market is constantly in flux. Understanding the real estate market is the key to working on foreclosure and REO listings. Here are seven ways for agents to get REO and foreclosure listings: 1.

The approach to gaining either of these types of listings is similar because you are dealing with similar agencies that seize homes because of unpaid debts. The slight difference between foreclosure listings and REO listings is that foreclosure listings are in the process of being returned to the mortgage lender, whereas REO listings are already owned by the lender or a government agency such as the Department of Housing and Urban Development (HUD), Department of Veterans Affairs (VA), and Federal Housing Administration (FHA). Real estate-owned listings, or REO listings, are properties owned by the lender (which could be a bank or mortgage lender, or even a government agency) after the attempt to sell during a foreclosure fails to meet the opening bid. Foreclosure listings are properties in which a lender or bank is attempting to recover the balance owed on the property due to the owner defaulting on payments.