# Whats up with Fannie Mae



## SeanAZ (May 11, 2016)

Morning everyone, I contract through Qualified which in turn i do work for NFN, NFR, Carrington and others. Work was goin really well except for the last 6 months. Ive noticed all trashouts on properties that are Fannie Mae ( which go thru NFN) have not been getting approved. I have about 3 that are months past since i put the 30 day personal property notice on them. All in all, i have over 15,000 dollars in bids out that are just sitting. Again, im only seeing this with fannie mae homes.

Does anyone here have the inside scoop on whats going on? Qualified doesnt even seem to know.


----------



## david (Apr 11, 2012)

As stated in another post this work is drying up fast be prepared for no work at all soon a lot will close up after this year or flat go broke.


----------



## JenkinsHB (Apr 11, 2012)

david said:


> As stated in another post this work is drying up fast be prepared for no work at all soon a lot will close up after this year or flat go broke.


Well, I don't think there will be no work, but there will be a decrease in volume and a lot of contractors leaving the industry to go back to construction. I know of 2 larger guys in my area just switched back to construction in about the last month. We're diversifying by doing a new build and doing some rehab work on some flips. You might want to consider it.


----------



## david (Apr 11, 2012)

Yes definetly need another plan ive seen this business decrease every year dramatically since 2011 and seems to only get worse.


----------



## IPS (May 24, 2015)

So what state are you working in? We were dry for a bit, but are slammed right now. :vs_OMG:


SeanAZ said:


> Morning everyone, I contract through Qualified which in turn i do work for NFN, NFR, Carrington and others. Work was goin really well except for the last 6 months. Ive noticed all trashouts on properties that are Fannie Mae ( which go thru NFN) have not been getting approved. I have about 3 that are months past since i put the 30 day personal property notice on them. All in all, i have over 15,000 dollars in bids out that are just sitting. Again, im only seeing this with fannie mae homes.
> 
> Does anyone here have the inside scoop on whats going on? Qualified doesnt even seem to know.


----------



## GTX63 (Apr 12, 2012)

Simple search on the interwebs will give you the latest numbers by region and dates on the current condition of the market. We were doing foreclosure work in the late 90s when about one company per town was about all that was needed. This is the part of the story when the boom towns are drying up and the majority of the miners move on.


----------



## SeanAZ (May 11, 2016)

IPS said:


> So what state are you working in? We were dry for a bit, but are slammed right now. :vs_OMG:


AZ. Work is steady, Qualified is a good conpany to work for due to all the contracts they have. Still getting initial secures and grass cuts etc. Ive just noticed the problem with all my Fannie Mae homes run through NFN. We keep putting in bids and then they just sit. Some have been sitting full of junk for over 6 months getting more infested by the week. Still doing grass cuts and even getting in new ones but for some reason the trash outs arent coming.


----------



## mille63 (Mar 20, 2014)

IPS said:


> So what state are you working in? We were dry for a bit, but are slammed right now. :vs_OMG:


Is your work still steady? I'm in central Florida and Fannie Mae work had dwindled steadily since the first of 2015. It's as slow as I've ever seen it since 2008. :vs_worry:


----------



## madxtreme01 (Mar 5, 2015)

SeanAZ said:


> AZ. Work is steady, Qualified is a good conpany to work for due to all the contracts they have. Still getting initial secures and grass cuts etc. Ive just noticed the problem with all my Fannie Mae homes run through NFN. We keep putting in bids and then they just sit. Some have been sitting full of junk for over 6 months getting more infested by the week. Still doing grass cuts and even getting in new ones but for some reason the trash outs arent coming.


Josh and Tamara still over there?


----------



## USConsulting (Oct 31, 2013)

SeanAZ said:


> AZ. Work is steady, Qualified is a good conpany to work for due to all the contracts they have. Still getting initial secures and grass cuts etc. Ive just noticed the problem with all my Fannie Mae homes run through NFN. We keep putting in bids and then they just sit. Some have been sitting full of junk for over 6 months getting more infested by the week. Still doing grass cuts and even getting in new ones but for some reason the trash outs arent coming.



I know what's up. Send me an inbox message through this with your email address


----------



## USConsulting (Oct 31, 2013)

madxtreme01 said:


> Josh and Tamara still over there?


yes they are.


----------



## northeast1 (Aug 7, 2016)

*burned by nfn on a fmna 300cy*

got it done in june 
stiil not paid put a lien on house and attached the bond with fnma
now they want to pay... but still no check say fnma pays in 4 month,.s bs


----------



## MKM Landscaping (Sep 27, 2012)

If you are doing Fannie Mae and working for NFN I assume you are on the reverse mortgage contract. Those house's will sit.

Flip side on the rumor mill is that US Bank bought a good portion of the Fannie Mae volume.


----------



## Craigslist Hack (Jun 14, 2012)

MKM Landscaping said:


> If you are doing Fannie Mae and working for NFN I assume you are on the reverse mortgage contract. Those house's will sit.
> 
> Flip side on the rumor mill is that US Bank bought a good portion of the Fannie Mae volume.


Carrington just got the US bank contract. Get ready for low ball debris prices.


----------

