Comments on this announcement from RPR (Realtor Property Resource) and Fannie Mae. ?
RPR Teams With Fannie to Speed Short Sales
The REALTOR Property Resource® has announced a new partnership with mortgage giant Fannie Mae aimed at increasing the efficiency in the short sale approval process for real estate professionals and their clients. The goal is to reduce the time for real estate professionals to both bring distressed properties to the market and close on the sale of these properties, says Dale L. Ross, CEO of the REALTORS Property Resource®.
The partnership includes an expansion of the existing REO listing information available to real estate professionals in the RPR Application. It also will include new specialized training options.
“In markets where the Multiple Listing Service agrees to partner with RPR and Fannie Mae, REALTORS® will have access to information, tools, and training to assist in identifying and expediting a Fannie Mae short sale,” Ross says. “Fannie Mae and RPR will also be providing REALTORS® with data and training on Fannie Mae’s short sales and recommended list prices. This partnership will also serve to create broad exposure for Fannie Mae training content and REO listings through the RPR site.”
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I think this is personally disgusting! If anyone doesn't see that NAR and FANNIE are "IN BED" together on this one...they their blind. I LOVE how Fannie and NAR call it PARTNERING up on this one.
It's a blatant attempt at Fannie to try to be the next CORELOGIC in valuations....so this way if FANNIE is behind the wheel, they can manipulate the prices and have RPR be another valuation site with AVM's ...and guess whose AVM's Fannie will listen to when it comes to home valuations? Why their OWN CREATED SITE OF COURSE!!!
NAR is supposed to represent REALTORS and help US, not be in BED WITH any organization with THEIR OWN AGENDA.......wow...we've been sold out and they already have "OUR LEADER" bending over backwards and in allegiance with them...... How impartial is NAR supposed to be NOW, when they're "sleeping with the enemy"
So it's FANNIE's site with NAR's stamp of approval on it and Fannie gets to be the PUPPET MEISTER pulling all the strings......
GREAT!
This time, Sheyenne, I agree with you. If NAR were truly an advocate for Realtors or homeowners, they wouldn't cozy up to the lenders the way they have over the years.
http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/201302...
Kevin, you are amazing..the amount and variety of information we get from you seems almost sinful! thank you!
Kevin - This is quite fascinating. It weirds me out a little, though. If I have a non-short sale listing, the bank knows I listed it for sale? Freaky. I can see them then using this information to re-solicit a traditional seller to refinance to keep the loan or for other "marketing" purposes not related to short sale. Of course, it's always easy to find this stuff out by looking online, but still, it's a bit creepy to me, unless I've misread it (I did a brief reading).
http://1000watt.net/2013/03/my-response-to-rprs-response/
http://1000watt.net/2013/03/friday-flash-wtf-rpr/
Well, well, what do you know? There you go!
Personally I'm disappointed in the NAR for this partnership. It's certainly not the first time I've been disappointed with them and sadly I'm sure it won't be the last....
I asked them about this years ago when they had a broker meeting at our association. RPR will give out MLS information to servicers and lien holders for AVMs without the MLS getting any type of compensation. Essentially, they are giving out the MLS information and taking the payment. This is how LPS is getting their listing auto alert program.
No offense to other markets but I don't really need any information outside of our current MLS to conduct business and I doubt you need our information. So there is no need to nationalize a listing database.
Another way for someone to make a buck off our work.
Yet another useless announcement/tool from Fannie Mae. What good is this tool or that tool when the value placed on the property is 30% or higher than fair market value? I don't even know why I comment...
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