Fannie Mae Reviews

My 82 year old best friend got a business loan 12 years ago. She had her lawyer help her. Well it is time for her to retire, we found a buyer and Fannie Mae, which is owned by our famous government is requiring a payoff penalty of $280,000.00 dollars. Yes, you are reading this right. Usually you get a break or even a better price when you pay back money early, not with this company. We are asking for a break for this 82 year old woman which she deserves a break. She has not been late. I guess if they don't give her a decent break on payoff, we are going to bring this to light even more so. Yes we have proof and I bet that a couple of the presidential hopefuls would like this info being that the government should not be in the business of making people pay a penalty for paying a loan off early, especially from an 82 year old woman.

Saw a house listed with a local realtor. I went to see the house and was told it had to be a cash offer. The next day I put in a full cash offer and offered to pay all closing cost. One hour later my agent called and said my offer was rejected. The explanation was given that I already owned a home, I had filled out a form certifying I was going to live in the home. Was told it was the law that since I owned a home that I did not qualify for First Look. I ask where this law was at (there is no law) you need to certify that you are going to live in the home and I did.

Found a home that was foreclosed in the town we are in that we wanted to stay on. Was a bigger home, nicer neighborhood. Price was extremely high but figured the previous mortgage on it was 60k less than what they were asking so went for it. They rejected our bid and then dropped price of house. We went back in, they rejected again, offered a higher number and said final offer. We took it because we wanted the house even if it was slightly expensive. Home inspections went okay, some boiler safety issues but nothing immediate, siding done incorrectly, well water had astronomically high manganese and fluoride levels, etc. None of which they would help remedy at all! They offered nothing for any of it. We closed within 2 months after a lot of pushing as we were selling our house. After moving in, had clogged drains because the painters they hired poured paint down drains, carpets are coming apart down the middle of the rooms.

Fannie Mae purchased my home at the Sheriff sale for $23,000.00 which I had a $97,000.00 mortgage with CitiMortgage for 13 years. My home was in foreclosure after CitiMortgage raised the monthly mortgage from $740 to $1100.00 and after they received $21,000.00 of the Governments Hardest Hit Funds. I begged and pleaded from 11/2014 to 2/2015 with Fannie Mae for a repurchase. The same foreclosure attorneys office who represented Citi also represented Fannie Mae sent me a repurchase letter in March. The purposed amount was $55,000 and $5000 nonrefundable deposit for 15 days. The time frame to secure financing was not given fairly and the attorneys office filed an eviction notice at the same time in March.. The house was listed on Hompath and sold for $48,000.00 on 12/18/15.

Fannie Mae listed property with realtor, We made a cash offer, it was accepted. We got to within 4 days of closing, after paying for Survey & Electric service! Then the problems jumped out, seems Fannie didn't clear the Title delinquencies, they needed an EXTENSION (5 days), then they needed (Two Weeks)! During that period they popped the "WE NEED YOU TO SIGN A HOLD HARMLESS AGREEMENT!" WHY? We need to retire the Title (Modular home), we said NO to the Hold Harmless agreement, so they CANCELED our contract!

I spend almost over a year to purchase **, Miami, FL 33125. I complain to HomePath two times this house delisted. I am a person who wanted to live in it but for $5K difference, they sold and investor now who try to sell on craiglist.org etc other websites. HomePath in their website clearly said, first they seal to home buyers not investors. This is not true. I wrote a couple email. They never return my emails. I pissed off to homepath.com (Fannie Mae) is joke for home buyers who has cash but not credit.

My husband and I were unfairly cheated out of our home by Fannie Mae and Bank of America. We fought with them for eight years trying to save our home. I lost my business and our income dropped drastically so we applied for modification after modification. Finally they decided to give us a modification trial for three months. We paid the amount that they said we had to pay until the third month. They sent us our third payment back saying that it was not enough. We sent them the letter that we received from them stating the amount we were suppose to pay. They told us that they made a mistake and they refused to take our payment and they went forward with the foreclosure.

I am a buyers agent involved in the purchase of a Fannie Mae property. My client is a cash buyer (her entire life savings) and we have gone into contract to purchase a REO Fannie Mae Townhome (estoppel was ordered last minute) $13K owed and now it is in the Fannie Mae Legal Department, two extensions later we find out that it may be pulled from the market. The purchase price being $147K after all final negotiations, inspections, repairs etc. I feel that we were being used as a tool to test the market. Especially, now that the market is rapidly increasing, I feel that the LA, FM Coordinator (supervisor) and legal department are stalling to either pull the Townhome off the market now that all of the leg work has been done or discourage the buyer so that she will not sign another extension. All so they can sell it at a higher price.

After reviewing all these horrible stories, I am not surprised of my situation. We went under contract to purchase a Fannie Mae home, but as it turned out through title, they never correctly obtained title after foreclosing on the property. Turns out they didn't own the property which was being advertised for sale by Coldwell Banker in which we were trying to purchase. We were pre-approved through our bank, paid for an expedited appraisal, etc. We have yet to get any inspection money back from listing agent and Fannie Mae said they wouldn't refund our money. We were ending a lease rental and timing was of the essence. Our agent missed out on a commission and we missed out on a home plus lost $1,600 in inspections/appraisals. Thanks Fannie Mae, the American People have full confidence that you will provide sub-par, below standard service, and gladly take their money for absolutely nothing.

The good homes and good buys are under contract before they even go online, so when they do show up online they are not available. Realtors are shady. They also put the houses in the wrong county so it won't show up on a search until it goes under contract with someone they know (investors) and are probably getting a kickback from. We got screwed with the whole banking scam by Fannie Mae. Now we get screwed again as the realtors manipulate the contracts.

We sold a house to find out when they did a title search that Fannie Mae never sent the mortgage release whenever they sold it or whatever they did. The title co had attorney draw up papers to be signed. They even sent an overnight label to them. Still didn't get it back and the closing was to be tomorrow. Can't have it without the release. This is from 20 years ago.

Typical and expected service, attitude and delivery of "Homepath" property from a government agency. Anything attached to the Federal Government means incompetent and intrusive response. From my perspective all is related to a top-down employee population of the worst of the worst. This country had better get its house in order and soon. They would not repair or make functional equipment installed by their HVAC contractor and asking for the same information up to 4 times.

Put in offer on a foreclosure, was accepted and proceeded with inspections, found a lot of smaller issues but continued on. Asked Fannie Mae if we could get help with repairs and were denied. One day before closing was informed by Fannie Mae that property was not habitable and we were to pay close to another 15 thousand dollars to have home connected to city septic as per city guidelines. We spoke to city where house was located and were informed that Fannie Mae was aware of this since last Dec. We were not disclosed this fact until June 30th and at this point bank was not willing to give us any more money for this property and we had no choice to end deal. Fannie Mae did not disclose this to us until one day before closing and we know they knew of this. We are trying to get our earnest money back so we can buy another home but they are not willing. Would like to know if anyone might have a suggestion what to do?

I looked at this condo advertised as almost 1600 square feet. It had a daylight basement so I specifically asked about mold or moisture problems. Because I went into the hospital, my real estate agent arranged for an inspection. I was not told of the closing date for almost a month after the condo had closed. After I knew it closed I took my contractor out to give me a bid and a neighbor walked up and said "don't buy that condo, there was mold halfway up the back wall." The mold abatement company told me the mold been painted over several times.

Very disappointed what listing's Agent of Fannie Mae Homepath properties are doing currently. As we know, after market went down on 2007 Investors buy all the properties and they made themselves richer than they were. Now, banks start approving loans to qualified buyers but these listing's agent still choose investor's offers. Apparently good people who want to become homeowner and make their dreams come true don't have that opportunity thru Fannie Mae HomePath. They want an opportunity to give something good and special like a Home for their families but some people's greed knows no limits. Very Sad.

I wish that I read all of this before paying $75 and taking that required course for 3% closing help. I have been watching a FM property for a few months dropped to a great price. Went to see it put a contract on it on July 9. So I figure 3 business days for an answer. No contracts per the agent. The biggest deterrent she said was the vinyl flooring FM put through the entire house which is fine with me because I'm putting in wood floors anyway. So I figure no interest and been on the market for 85 days they should respond pretty quickly. Well after reading all of these reviews I don't know what to expect from them. Will update when things start to happen.

To say that we BEYOND angry and frustrated with Fannie Mae/Homepath is the understatement of the century. We have been looking at a property since February. It finally was put "on the market" and we made an offer, over asking price with a deadline to have submitted by X day at X time. We did. But then got not one but two separate phone calls over the course of 3 days saying that Fannie Mae kept extending the deadline due to increased interest. The games they are playing may not be illegal but UNethical... YES. No wonder they are a joke in the housing market. We are so sad to have lost out on this home due to GREED!!! Fannie Mae, you are a disgusting low-life slimeball government agency!!!

My fiancé is buying a home in Auberry Ca. Everything has been going great. Our offer was accepted, inspection and appraisal took place and we submitted all repairs that needed to be done to Fannie mae. They did them by our closing date. Sounds wonderful, right?! NOT!!! We were told that we would need to extend our escrow until June 30 when it was originally set for June 17, 2015. So, thinking we would have it completed by then we put everything in storage and went on vacation thinking that when we came back we could sign and move into our home. However, while on vacation we learned there was a lien from the previous owner that needed to be satisfied and recorded. We were told by our realtor that the lien had been taken care of but only needed to be recorded by Fannie mae.

Client purchased a property Fannie Mae presented as 3 units but city claims it is only 2 units.

As a realtor, I looked for the best deal for my clients. I found this Fannie Mae property at a good price. My buyer wanted to purchase it. We signed a contract and gave the FM deposit and the required loan commitment which meant the buyer to lock in a loan and pay the fees. Fannie Mae refused to make the house available for inspection with lots of excuses. As a result, my buyer did not close on time and that cost him money and time spent. The only reason I would think of is the buyer nationality (his name) so the manager at FM did not think he deserve to be a home owner. I will try to avoid Fannie Mae properties in the future.

Any and everyone that will listen I have told my story to. After a year of looking for a home I found a foreclosure home Fannie Mae owned, put in an offer they accepted. Did a home inspection the house had foundation issues, mold, and plumbing problems. I still wanted the house so I countered either fix the issues or go down in price and I can fix the problems - they refused. Not only did they refuse I had to fight to get my earnest money back. Not to mention the plumbing problems they supposedly had fixed prior to the inspection I had, which wasn't fixed.

For the past few days, I felt like I was the only one swindled by Fannie Mae. I read this site and others. Now I know others have been through the same thing with Fannie Mae. It is the usual story - under contract to buy a foreclosure. Had to put down $2000 buy cashier's check. This week June 2 I had the mortgage commitment, homeowner's insurance, appraisal done, home inspection done and closing date schedule for June 11. Title search comes back with a judgement lien by the city of Middletown. Therefore the property cannot be sold. Of course by June 2 I had given notice to vacate my apt and arranged a moving company. Now I will be homeless in a few weeks. Never buy a Fannie Mae home path property. It is a scam.

While the ready buyer program seems like a good way to save 3% on closing costs, it was just a waste of $75 for my family. We did everything the course instructed and had solid financial funding from a local bank but our offer was rejected even though it was above asking price. There was no explanation and no refund of the $75. The money they are giving people in closing costs are coming straight out of pockets of consumers like me. I've had a terrible experience with Fannie Mae and wish I would have never had tried to buy from them. Despite what they say about caring about homeowners, they are only concerned with the bottom line and will do anything to get as much money out of consumers. Be very careful when working with them.

We searched and searched. Found a home we absolutely fell in love with. We looked at all things considered. Water was off holes in the ceiling from pipes being evaluated possibly busted. Mold in the basement from leaking roof, etc. All things considered we still wanted the house. We considered the comps in the area, the costs to make the house habitable and of course asking price. Well asking price was 309,000, we offered 255,000 and 5000 towards closing costs. We went through and had a mortgage first guaranteeing our financing cause it had already been run through underwriters, etc. ANYWAY submit the offer, next day we get email stating multiple offers. Hmmmm ok. So we needed to go higher again. We evaluated all things and countered at 280,000 with 5000 towards closing.

I got a Fannie Mae Homepath house under contract and even though our contract stated that Fannie Mae would de-winterize the house and turn on utilities for inspections, they refused to follow the contract. Luckily, I found an inspector that wasn't afraid to turn the water on in the yard. My inspector was very good at his job and saw some cracks in the walls and found doors that would not close and lock properly so he suggested I have the foundation looked at. Unfortunately, my lender required that be done and I had to pay out of pocket for any needed repairs so I walked away from a really great house. Now I'm waiting and hoping I get my earnest money back. I don't get how they can ignore their own contract. I decided not to pursue another house with them.

I read a review on this site about someone who had bought a Fannie Mae property and then found out it had burst pipes that were going to cost a fortune to fix. I had a similar experience but was able to get it resolved. Before buying the house I wanted the house inspected and the bank required an appraisal. To do this the water and heat had to be turned on. Fannie Mae hired a plumbing outfit who I believe incorrectly stated that many pipes were broken and therefore they were refusing to turn the water on, despite the fact that, even if this were the case, every radiator and pipe section in the house had independent shutoff so turning it out should not have been a problem.

My family and I were looking at house in Florida and found this perfect one. After wanting to bid on it, we find that it is a FNMA house. We were at first excited cause we could potentially get this house cheaper than it was and only need to do minor things to the house. We put in our bid and we're not asking too much off and the bank or whoever handled their end says "no and the price is the price we will not budge." It's amazing that their own website says they want to help families own a piece of the American dream but they want to squeeze every last cent out of you in the process.

Our originally closing date was on a Thursday. Everything was set on our end to close. However, Fannie Mae kept on pushing the closing date because they were irresponsible on their end. They LOST our earnest money deposit (even though they signed that they received it), causing them to push the closing date to the following Wednesday, they then were still not ready by Wednesday so had to push the closing date again to Friday. Friday rolls around and by this time had canceled the EMD cashiers check. I ended up wiring over the full down payment and finally signed at about 5 pm on Friday. HOWEVER, had no received keys yet.

We made an offer on a Fannie Mae foreclosure at 200 22nd Avenue, SE, St. Petersburg, Florida 33705. The offer was accepted and we went ahead with the inspection as well as signed and submitted all required paperwork. Then after not hearing anything back, our real-estate agent told us we had to remake our offer. (I still do not understand why.) Regardless, we did repeat the offer process, but this time we were told that our offer was rejected. Weeks later we were asked again to make an offer if we were still interested. We did and this time the offer was accepted (again).

We made an offer on a foreclosed house, a Fannie Mae house. During the inspection a major water problem was found. We asked for enough time to get the problem resolved because our lender would not lend the money until the problem was resolved. We could not get an answer from Fannie Mae for several days and finally at the last minute of the due diligence, the answer was no more time allowed. Our realtor could not understand and we could not understand. Getting in touch with Fannie Mae was extremely difficult during negotiation. We really wanted to purchase this house.