Fannie Mae Reviews

We found that the structure of the home was NOT in good condition. The joist were routed and some laying on the ground. As they said the structure of the home is found to be in good shape. So we have sunk every penny into this home and we are walking on plywood covering the floor because it needs fixed and we can't afford it. My husband and I are both on disability and have no extra money. The name of the inspector is the same person we met at the title company when we signed off on the house. So now what do we do? We can not afford an attorney.

OK April I pay $1008.00. Next day I call to see what my monthly payment would be. I was told $685.00 due in May. Great, I can start to pay my sister back. Next day a notice of foreclosure comes certified mail. I call (AZ) this time. Girl says I didn't adhere to the plan and am $2K behind. I explain about the repayment plan. "Nope you are in default." Now I am crazed. I call the next day (TX) this time. Tell the girl my story. Put on hold. She comes back and says "I see the problem. Your initial payment of $2100 should not have been applied to the monthly plan. The monthly plan should have been for 7 months. Our mistake sorry but we can resume a new plan of $1004 (she was pleased with herself it was $4 cheaper) for SIX more months!"

Exactly HOW MUCH am I paying for this plan. Even counting my regular mort payment. I have repaid $2100 plus 4 months of $300 extra. How can I be $2K behind?? I told her I would just borrow the $2K but she says, "NO. It shows you defaulted even though it was our accounting error." What?? Fannie Mae should be more careful who they sub their mortgages to and I am contacting my reps today. This is robbery.

Through my foreclosure attorney, I offered to make the loans current by bring all back payments up to date and pay attorney's fees. This was refused and 6 and 7 months later the foreclosures took place. During the foreclosure and 2 Court hearings (partially representing myself) I requested documentation regarding my loan's servicing. Fannie Mae, through its foreclosure attorney and loan's servicer, would not provide, denied and lied about such documentation being privileged or non-existent. Found was the 470 page 'Fannie Mae 2010 Servicing Guide Update Part VII and VIII' document with a mandatory effective date of January 1, 2011 (the same date I stopped payments to negotiate). Santander Bank grossly violated the default prevention requirements of this Fannie Mae document.

Fannie Mae was aware of their servicing guide. The two Fannie Mae personal present at the foreclosure mediation of June 2, 2011 stayed silent throughout the mediation. Fannie Mae is a money making business. Through the U.S. Treasury bailout (Housing Economic Recovery Act of 2008) Fannie Mae makes money by foreclosing on properties. "'KILL FANNIE MAE', too big to fail, so big to get away with fraud" exposes this scheme of stealing millions, most likely billions, of taxpayer money and how two government watchdog agencies have failed in their reason to exist.

No papers signed or given. No marshall. No nothing. So I guess anyone without papers or ID can take your evictions rights away, DUMP your things and violently destroy the property very quickly and just put it on the market... Bank denies they know?? It all smells and if Fannie is behind it they have a corrupt person working for them. And Fannie Mae is just as corrupt. This is illegal in CT. But they don't care about people rights, either does the attorneys and the bank. It's become one big coverup... Someone has to stop it. It's ILLEGAL... How could a bank and its attorneys not know nothing?? House just went on the market Sat Jan 6 2018. It should be stopped.

Months later he sends us an email saying, "Everything is done. Please order appraisal". We do so, but got a chance to go inside again before appraisal. Literally nothing done!!! Paint chipping everywhere, tile missing everywhere. Dirty grease walls, holes all in the bathroom. We get in contact with Tom **, he tells us he did everything we said needed done and for us to go ahead and order the appraisal. We asked for our funds back as him and Fannie Mae breached contact. He claims we breached by not wasting more money on appraisal. We told him we showed the photos to our lender and they said an appraisal would be a waste of money. Tom and Fannie Mae will not return our funds I feel is though I'm in a real life scam!!!

The next morning, our realtor informed us that Fannie Mae had accepted another offer, even though it was weeks before they were going to stop taking bids. We were confused that they accepted an offer before ending date. We then found out later that the offer they accepted was lower than what we offered. Although disappointed, we felt the matter was over. Then, just 3 months later, I drove past the house and there is a "For Rent" sign outside the house. This is clearly against the guidelines Fannie Mae had set for us.

So, then when they opened it up to the investors, and they refused and denied the verbal acceptance, asked us to bid more money and then gave the house to an investor for simply 1000 dollars more than the asking price which we offered them AND PROVED CASH FUNDS which they made me jump through hoops to show them and I DID. They are disgusting and the Attorney General office and the Consumer Financial Protection bureau would do nothing about my complaint and is doing nothing to stop this practice. They are all disgusting.

It very much saddens me that a government ran agency would rather kick its own veterans to the curb. If you are a disabled veteran or a honorably discharged veteran, run away from Fannie Mae. They will show you no respect, and in the end not give a care about you or your family. I will continue to blog and write until the veterans who put their life on the line for their country get some fairness and equality. I have read nothing but horror stories about people dealing with these Fannie Mae criminals, how they bend and break the rules and nobody cares. I am sending a copy of this to my congressman and hoping he will help all the brave veterans get a fair shot at home ownership.

Well it's only 4 years later and my floors are sinking in. I found out from the neighbours that the house had sat open for 2-3 years and what I now know is Fannie Mae came in here and took up the hardwood flooring and put the fake in place. I guess it had gotten so wet in here that the floors buckled. Well when they redid the floors, they apparently put it over the wet beams instead of fixing that. Of course when I bought the house, everything looked great. I know that this is how it happened because I've had several contractors tell me there is no leak and this is what happened. I don't have the money to fix this because I cannot work and it's underneath the whole house.

The kitchen is the worst. I had someone put down thick pieces of plywood. My gutters are all also wrong. There are no downspouts where there ought to be. Due to the shifting of the floor, the walls are cracking. I just can't believe they get away with this. I thought there were laws against selling a house that isn't safe. They never disclosed this floor issue. There's really shoddy work that went on here and it's dangerous. Especially now. I had fallen and broken my hip. I think they should have to fix this. I can't believe they were given a C/O by an inspector. I'm in a terrible spot because I have nowhere else to go. I've been told it could take 30-40 thousand to fix. Something that they should have had to fix before selling it. I'd appreciate any help or suggestions. I am really ill and I'm scared.

At this point I knew my feelings were correct about the company. After telling her to transfer me, she finally did so. I spoke to a supervisor, which was very kind, and she, at my request escalated this matter for me. But she also stated that starting on the 16th of November 2016, which is tomorrow, it will be released to the investor side of the market. Making that statement did not set well with me, as this company made it sound like they intentionally declined all my offers to test the market unfairly, is the way I felt after that had been said.

Now, I called back and the attendant I spoke to was rude from the get go. I asked to speak to a supervisor. She put me on hold for longer than I believe she should have. And finally came back on the line and said no one will speak to me. I will have to wait to see if I get a callback. I personally feel and many others I have spoken with, including real estate agents, feel like either I have been discriminated against and/or fraud could be a probable answer. So, I will be diligent in seeking answers from my State and Homepath's State on why there seems to be so many erroneous problems with this company and their ability to fairly sell real estate. My advice is to stay away and find another home that this company is NOT involved with!!!

Instead of responding to the request for repair, the listing agents Tom ** and Vinny ** of Remax Components in Cecil County Maryland unilaterally cancelled the contract. My period for inspection and right to rescind does not expire until 10/7/16, but the contract is canceled and the house is relisted. The house will be sold to an insider for cash (a flipper) who will cover up the problem and foist it off on an unsuspecting consumer at a higher price. Fannie Mae will make less, a house flipper will profit, and an unsuspecting family will be endangered by mold.

We also know there is an 120 day redemption period (starting from the day of the foreclosure sale) for the government to buy/buy back the house. By this time over 30 of those days has already passed. Our realtor pushed back and asked the listing agent why this was being brought up now when they have known about the liens from the start. The listing agent spoke with Fannie Mae. The following week Fannie Mae decided they would move forward with the sale of the house, as long as the buying party knew the house could not close until the tax liens had been released or the redemption period had passed. We are also told that no one would have to make new offers that the offers submitted would stand. But, then we were told the house needed $50,000 worth of repairs before it was livable and they did not think it could not be lived in within the 60 day occupancy window.

Again we pushed back and said it could and we had already signed a statement that we would occupy the property within the said time frame. So, Fannie Mae stated anyone bidding had to provide a building estimate that covered the repairs and state the repairs could be completed within the 60 day time frame. But, Fannie Mae would not be providing the list of repairs. Now, we did file a claim with the Freedom of Information agency, but was told that Fannie Mae was not a government agency and therefore not under that jurisdiction. (Yes I have all this in writing. It was news to us that Fannie Mae isn't a government agency--wonder who does govern them... but that is for another day). This was crazy, but we spoke with our builder and got our estimate together (in the matter of about two days, because of the short time frame given by Fannie Mae) and submitted it.

A few days after that Fannie Mae came back and said everyone that responded with this information would have to submit a new offer by the next day (Wednesday) even though previously they had said we didn't need to. We again got with our realtor prepared a new offer and submitted it. On Thursday afternoon, we were told through the listing agent we had the winning bid, but needed to provide an approval letter (this was done every time we made an offer) and a statement from a bank saying we had a certain amount (large amount) of money in the bank. We had to scurry around and get with our banker before the bank closed to get the paperwork back to the listing agent by 6:00 that evening. We managed to do that as well.

On Friday we were told we had the house and the confirmation Email would be coming and they would be sending some additional paperwork to be signed and for us to provide our earnest money check. On Monday our realtor checked with the listing agent and she had not received the paper work yet, but should any time. Also, on Monday afternoon our realtor received the official acceptance Email from Fannie Mae stating the our offer had been accepted. Late Tuesday morning the listing agent calls our realtor to tell him that Fannie Mae had decided to not sale the property, because of the tax liens. So, our realtor of course pushed back as did we. The property was pulled off the HomePath website and is not for sale at this time.

Now, during this whole process we and our realtor have been in contact with the Fannie Mae powers at be providing them with the nightmare play by play. When we call the customer service number on HomePath and give them our name and ask for their boss, they begin telling us who is managing our CASE. Well... wow, just wow. We have not given up and are still pushing, so I may have an update to this review.

One thing I can say if we get the property or not there is something seriously wrong with this system and process. We have already reached out to our Congressman and plan to file a complaint with his office. We do have confidence that at the very least there will be some type of investigation into how this "NON government agency" runs its business with no accountable to anyone. More to come...

However, after I bought the house, before I moved in, a piece of the bathroom tile fell off, so I had a handyman to come fix it. Then we found there is no waterproof protection for the tiles in the bathrooms. So, I had to remove the tiles from both bathrooms and basically redo the bathrooms to make sure they are water proof.

Then, we checked the kitchen floor, and found the space underneath the tiles to be hollow space and not cemented to the floor. We removed few tiles and found out the tiles were not properly installed and grouting work was incomplete and this problem is consistent through out the tiled area of the house. I think probably over 1000 square feet. So, now, I need to spend another $10,000 or more to remove and replace the tiles. And, as we were removing the tiles, we found another layer of the original tiles with few missing wood frame underneath. I am not quite sure what I will continue to find when I look deeper, and I am scared.

I found the whole situation very bothersome and intolerable. I am attaching pictures of the bathrooms, kitchen, living room and dining room from the original listing. Everything was supposedly newly remodeled and functional. And, I am also attaching pictures of the fallen tile in the shower wall, and the condition of the floor tiles. I was so distressed when I found out about the bathrooms not been waterproofed, so I didn't think of taking pictures but just asked my handyman to take them down to start working. I was thinking of just get things fixed. But, after seeing the problem with that kitchen floor, and more problems with the bathrooms, I decided to take the pictures to share them with others and voiced my concerns.

I am not sure what to do now. I think the value exceeds small claims court, so my agent just told me to see if I can find an attorney that will work on contingency. But, since the value of my case is not that high and I am sure if I am able to find a trustworthy attorney to help me. I am still exploring my options, but I want to share my experience with others so no one else will be stuck in the same situation as me.

Buying a seemingly remodeled house with supposedly everything new and functional, then to find out that all the major works need to be reworked. If I had bought a fix-it-upper, I just need to install new things. But, in my case, I had to spend extra thousands of dollars to remove those poorly installed bathroom and kitchen tiles before I tile all of them again!

Then we run into a problem... A Fannie Mae employee (I will get his name from my realtor) states that we have to close no later than May 23rd. Well unfortunately, with the first time home buyer loan it takes up to 45 days to process. My lender said there is no way she could guarantee that unless I was willing to lose my earnest money. Of course I wasn't! That's $1,000!

Later on that day my realtor gets a call from the same Fannie Mae employee stating he could make the closing go a lot quicker. Not only was that unprofessional since I have my own trusted mortgage lender, but he also mentioned that it wasn't worth me getting the first time home buyer loan because I have to pay that money back and Clayton County offers money that wouldn't have to be paid back. All I needed to do was to give his lender my information, come up with more money for closing, and basically fire my lender. As bad as I wanted to move, a rush just didn't seem right! I felt like commission was trying to be made by a certain date.

I wrote a letter and asked my realtor if she could figure out who it should go to. I wanted to know why we weren't able to get a June 3rd closing date (which my lender requested)? The house has been on the market for over a year. What would 2 extra weeks matter? Once my letter was sent, we received a response stating that the June 3rd closing date was granted. I was ecstatic!

My realtor and I went back to the house about a week later and I noticed that someone had put some fill dirt/soil to cover up two holes that were a part of the walkway foundation issue. Why is someone trying to hide what needs to be seen? It was time to get my inspection and of course I wanted the BEST! I went on the American Society of Home Inspectors website and found Mr. Darryl **, an ASHI Certified home inspector. He was very thorough, informative, and honest. But it didn't go as smoothly as I hoped...

The roof needs to be replaced, the entire back deck isn't secure, the wood is rotten, the entire deck isn't touching the ground, there are foundation issues, the fireplace which is gas is not operational, etc. Most of which was not on the appraisal we received. The Fannie Mae property realtor advised my realtor that the only repairs that would be made were those on the appraisal. On May 13th my mortgage lender advised me that if the problems from the inspection were not fixed, the underwriter would not let me move forward with the loan for the house.

My realtor relayed the message via email and phone message daily, even asking if we could go half on repairs (not knowing that wasn't possible) since I really wanted this house. No one responded back to her until May 20th. Only to get a response saying "we will only fix what was on the appraisal" (that appraisal came from the previous purchaser). The appraisal is inaccurate and my realtor even asked if I could get another and they said no, it wouldn't matter.

If I'm not mistaken, on the Fannie Mae website it states "When the property is appraised, the lender will need to ask the appraiser to update his/her appraisal based on the results of the inspection in which case the appraiser would incorporate the results of the inspection and measure the impact on his/her final opinion of market value." Which is not what happened in my case. Which means what the inspector finds that is serious issues with the house, would need to be repaired by Fannie Mae i.e Foundation, Roof, Deck (which is structural).

This is why the home isn't selling! Fannie Mae employees are trying to get over on people. I noticed Fannie Mae has a lot of complaints and I see why. Your employees are not abiding by policies and procedures. My realtor and I requested a termination letter on 5/20/16 but if these issues can be addressed/resolved I would be happy to continue my purchase. I see that several of your "codes of conduct" have been broken.

We submitted an offer and was the higher bidder after multiple offers were received. We got a counter offer from the asset manager for cash only. We tried to reach out to the listing agent to see if she could contact the asset manager to reconsider accepting financing for a renovation loan as we were not investors but an actual family that wanted to live in this home. The listing agent was NOT helpful whatsoever. The lender even contacted her and that didn't matter either. We contacted Fannie Mae directly several times and they just follow the send a complaint rule which we did but never received a response. What boggled me the most about this whole ordeal that lasted about 3 weeks since we first saw the home was why???

If the house was going to be bought why do you care where the money comes from? If you are getting the most for this house with the highest offer why does it matter if it's via a home improvement loan that is pre-approved well over your asking price. Why aren't they even open to discuss accepting a home improvement financing loan? When did Fannie Mae stop following their mission of wanting to help people??? This is such a sad experience and had been so stressful that I will NEVER consider looking at another property that they have available. I also think they need to screen their listing agents a little closer too. This one has zero interest in trying to work with anyone or assist anyone not standing there with a bag of cash. Two thumbs down for both involved!!! Horrible experience.

Unfortunately, the decision was made the next day prior to a response on my offer, to lower the list price of the home by $20,000 dollars to drive up more offers and create a bidding war with highest and best. I was appalled and could not believe the bad business practice. I don't know who made this decision, Fannie Mae/HomePath or the realtor on this home at ** Boynton Beach, FL but it was a horrible choice.

I submitted my best and final and my offer was not accepted. I'm out $75.00 and nothing to show for it. NEVER do business with this company because of their shady real estate practices and NEVER fall for their 3% contribution toward closing costs. They not only take your money and do not issue a refund with the bogus course, but they draw you in with the course and then no reimbursement of your costs to submit an offer if you are dragged into a bidding war over a real estate property. HORRIBLE business.

I had just about forgotten about it when I got a call from a Fannie Mae ** four weeks after calling insisting I listen to her explanation. The explanation was they do not have to explain. Somewhere, somehow the government has got to put an end to this empire building by these mindless drones injecting their personal feelings into the business at hand. 20 year veteran, senior citizen, and disabled. These are the sort of folks that are contributing to the growing resentment of big government. If there is a black list (which there is I'm sure I'm on it). The court of public opinion is always open and I intend to share this story with anyone who will listen.

They hired people to do cheap work and never checked to ensure done correctly. Made it look decent on move in but then did nothing to ensure was habitable. Have dumped so much money into the home and more to come (new boiler, new water system due to manganese level, and now a radon mitigation system because the radon is crazy high)!! I understand we agreed to this but they should have made sure things were inhabitable whether it's a foreclosure or not, especially when the mortgage they had on it before was way less than what they got out of us. They took forever with responses and my realtor had to be on them to help push for the closing date we needed. They made nothing easy and the home was not worth what we paid. Luckily we're handy and will do most of the work ourselves but it doesn't stop things from being a safety concern.

The County said Fannie never cleared out the TWO delinquent Mortgages, now it could take 3 Months! Well, it's now 10 months and nothing, off the market, no info available, can't discuss it! We filed a claim with the Inspector General's office and received a file # in June. I called them in September to hear, it's out of their hands now and we'd have to go to "The Freedom of Information Act" that would cost $99 for a supervisor, $59 an hour for a Computer Tech, and various other fees of $30 and another $30-40 dollars just find out what our claim found! THIS is how screwed up they are, this is how they HIDE their FRAUDULENT organization, or lack of! Nobody know nothing! Meanwhile the property sits, wasting away, blue tarp on roof now with roof leaks! How or who can get through this cluster ** of an organization? It seems that an attorney would jump on this massive fraud!