It has come to my unfortunate attention that Fannie Mea is grossly discriminating against any veteran who attempts to purchase any of the plethora of REO homes they currently have on the market.

It’s so bad that if you contact either of the relevant federal organizations (VA Regional Home Loan Center or Fannie Mea Regional Offices) both organizations will admit (unofficially cause they do not want to go on the record) that you cannot use a VA Home Loan financing to purchase a Fannie Mea or Freddy Mac (or HUD) repossessed property.

The sentiment is carried down to the local level with the local real estate agents so a Vet trying to get a fair shake is handicapped by the local Real Estate Agents being poisoned against him.

I personally am in the process of losing my first home purchase because Fannie Mea (or their local Estate Agent who may have other motives), simply will not give me an extension, to allow me the time I need to make the repairs required by the VA Appraisal for the financing.

I think this is ironic since Fannie Mea, and their local Real Estate Agent, did allow for a previous extension to allow for a contractor they hired to do some repairs on the property (negotiated by the same Buy/Sell agreement they agreed to use VA Financing on) before the VA Appraiser even had the opportunity to inspect. the same repair contractor has the same last name as Fannie Mae's local real estate agent. The same contracter that I later found out had let his State of Montana licenses and insurances expire. As well as the business license in the city for which the repairs where made.

I guess I have a bias because my hopes of my first time home purchase is going down the tubes … But this whole deal smells really bad in every aspect … Especially on the larger level as two federal agencies seem to be unofficially in conflict with each other … VA –vs- Fannie Mea …

I would be willing to share all documentation concerning this issue including my Buy/Sell agreement with Fannie Mae that planely indicates I am seeking VA financing.

the same thing happened to me two months back... I made an offer and fannie mae accepted it, then listing office told me that the property is not under fannie maes name.. that I would have to wait for the property to be listed again in 4 months and wait until the clerk of courts would issue a selling date for the property again.. and then bid for that property again and they say that I would be the bidder that would win..I already paid my appraisal.they accepted MY OFFER!!! HOW could they sell something its not theres!!! It seems like these listing agents have found some loop hole in the system. I cancelled my contract and was able to get my deposit back. Luckily
Now, I looked for another property and turns out fannie mae say "they own it". I put an offer and my offer was accepted, the listing agent is not able to turn the water on for my appraisal or inspection and they say that the property has the wrong documentation for the HOA and I have to leave my title company and go with theirs in order for me to close. Otherwise, I have to wait until they get their papers in order and go passed my closing date.
Extremely frustrated, any advice?

I viewed a REO property that was newly listed on Home Path and made an offer on Tuesday. The house was listed as having 3/4 of an acre but the yard looked much larger. My buyers agent tried to contact the seller agent about several questions I had about the property before we viewed it but was never able to reach him. My offer was for cash and I submitted proof of available funds as well as a down payment. I was offering the full purchase price because my agent and I felt the property was under valued. The listing agent confirmed by e-mail that he recieved my offer. He also confirmed that there was a second lot of 1/2 acre in the back of the house that went with the property. I went online Thursday morning to research the property and found out that the 1/2 acre lot had been for sale last May for back taxes owed and now owned by the county so it was not part of the property but could be available for back taxes.There were 2 more lots ajoining the property that were over an acre each and with river frontage that should have been included. The listing agent had not included these and I told my agent to find out if they were included. On Thursday afternoon the listing agent contacted my agent because he wanted a different fannie mae approved offer form used. I was leaving for work so we had to fill it out and submit it Friday morning. Listing agent told my agent he also took another offer Friday but wouldn't say for how much. On Monday I was told that the other offer was excepted and mine rejected. I have big concerns that my offer was never submitted or that the listing agent was working together with an invester and they had the property listed below value. How do I find out and complain? Who do I complain too?

Please help me investigate a MLS listing abuse in Phoenix-AZ by Fannie Mae local office. After our offer was accepted and the property pulled out from the listing, it came back in MLS at a much-higher price without any comment or regard to the initial commitment.
This is the short version of what happened:
- House on the market at $142500, we offered $160000
- Notification for “highest and best” received, raising our offer to $165000
- Our offer is declared “the best” and 10 days passed by (supposedly Fannie Mae was working on closing the deal)
- The property is suddenly back on the market at a much higher price: $187700!!!

Once the closing process started, we’ve put on hold our home search and begin preparing for the big step, only to end up pending in the unknown. Unfortunately, it is now impossible to find another property similar to this one (same area-affordability). Why is it a government-own entity allowed to make shifting profits using tax payers?