Real Estate REO Offers Made Easy - New Details

Real Estate REO Offers Made Easy - New Details-Image via Wikipedia

HomePath® Online Offers allows buyers and investors to safely and securely submit offers online to purchase Fannie Mae-owned properties in three key housing markets

Active Data Technologies Inc. recently completed the development of a custom Real Estate-Owned (REO) offer management platform for Fannie Mae that allows agents’ representing homebuyers or investors to submit online offers to purchase Fannie Mae-owned properties.

The HomePath® Online Offers system is available for Fannie Mae-owned properties in the Orlando, Fla., and San Diego, Calif., metropolitan areas and in Wayne County, Michigan. Since its launch on Nov. 10, 2010, the program has yielded positive results in the three test markets by generating a significant number of offers.

“This innovative program is a major victory on so many different levels,” said Brad Geisen, president and CEO, Active Data Technologies Inc. “Interested buyers can easily submit offers on affordable homes and Fannie Mae tracks them with the proprietary system that we built to work within the framework of HomePath.com.”

In the test markets, real estate agents are required to submit offers online on behalf of their buyers after reviewing resource materials on http://www.homepath.com/offerQuestion.html and successfully completing a webinar training program to understand the scope, submission process and benefits of the system.

Real estate professionals representing buyers are then able to connect directly with Fannie Mae’s listing agent through HomePath.com. The buyer’s real estate agent will also be able to find information on HomePath.com on possible financing and incentive options offered through HomePath that may be of interest to the buyer.

Other benefits of the program include, but are not limited to:

  • Transparency and efficiency in the submission process
  • Faster sales
  • Competitive offers
  • Secure document and data storage
  • Fraud protection

“Automating the transaction process is the start of moving inventory quicker and getting the housing market on the road to recovery faster,” said Geisen. “HomePath Online Offers is a huge step in the right direction.”

About Active Data Technologies Inc.
Active Data Technologies Inc. is the pre-eminent technology leader in the online distressed real estate disposition/management marketplace, forging strong partnerships with major, mid-sized and minor financial institutions throughout the United States. We create custom Real Estate-Owned (REO) websites and provide a powerful around-the-clock marketing program to ensure maximum property exposure, engaging more than 6 million buyers and investors throughout the nation each month. We also develop easy-to-use backend offer management systems that servicers, lenders and other large real estate portfolio owners can seamlessly integrate into their websites to facilitate, manage and expedite the sale of REO inventory nationwide for top dollar. Headquartered in Boca Raton, Fla., Active Data Technologies Inc. powers several major real estate websites, including Foreclosure.com, QuickSale.com and HomePath.com, among others.

About HomePath®
HomePath is a registered mark of Fannie Mae. Unauthorized use of this mark is prohibited.

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