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Working for Fannie Mae?

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Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Just got a call from someone at Fannie Mae wanting me to sign up for a Appraisals(??) on their BPO web site. Is it worth the hassle? Are the a pain to work for, always wanting BPO's instead of Appraisals? Pay rates??
 

Ted Martin

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Kansas
I didn't even know Fannie hired directly for BPO's. I've got a couple of retrospective field review assignments from them for fraud cases but those pretty much just dropped out of the sky.
 

D-Max

Junior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
North Carolina
Before I started working for myself (2003) I did a lot of REO work for them. They were very easy to deal with and if you sent a report on Monday you had a check by Friday. I've tried unsuccessfully to get on their list since then but they have a "favorite" appraiser in town that gets EVERYTHING they have.
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
Best client I have...wish everyone was like them. Scary if I lost them.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Good source of work but short time period to get the appraisals done. Some area's are better than others.
 

Jeff Horton

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Thanks! Just what I wanted to know. Apparently not easy to get on their list either!
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
I don't know of any list but I did one for them a few months ago. They cut the fee by $50 but the house was in good condition and the report did not require any lengthy addendums and they did not have any specific requirements.
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
I have worked for them off and on over the past several years. Some retrospective, some REO. Most of my work comes from the Dallas office.
 

Jim Massnick

Sophomore Member
Joined
Dec 17, 2002
Professional Status
Licensed Appraiser
State
Michigan
Best client I have...wish everyone was like them. Scary if I lost them.
Me too. Been working with them for over 3 years. Over the few hundred appraisals I have done for them, I think they called me 3 or 4 times just to verify something or ask for a small correction. Pay is good and they pay in a timely manner. They used to pay within one week, but as of late, its more like 2 weeks. No biggie. Great to work for.
 

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Agreed.. over the years have had one (1) callback by a reviewer; we chatted about REO repairs.
A few months later FNMA finally added specifics for what repair work they want looked at on an REO.. can you say feedback?
 
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