Fannie Mae Announces Expansion of Its Online Offers System

Fannie Mae has 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 Web site. Fannie Mae launched the Online Offers pilot in November 2010 in Orlando, Fla.; San Diego, Calif.; and in Wayne County, Detroit, Mich. 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, vice president of real estate-owned (REO) properties 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, Fla., has been using Online Offers since the pilot launched in 2010. "As an agent, I believe Online Offers is efficient, informative and user-friendly," said Philbeck. "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.