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Fannie Employs Active Data Technologies’ Pilot in Select REO Markets

""Active Data Technologies Inc."":http://www.activedatatechnologies.com, a Florida-based creator of custom REO Web sites, released a statement this week announcing that the company recently completed a pilot REO offer management platform for ""Fannie Mae"":http://www.fanniemae.com.

The program, available through the GSE's ""HomePath Web site"":http://www.homepath.com allows agents representing homebuyers or investors to submit offers online to purchase Fannie Mae-owned properties.

""This innovative program is a major victory on so many different levels,"" said Brad Geisen, president and CEO of


Active Data Technologies. ""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.""

The HomePath Online Offers system is currently available for Fannie Mae-owned properties in the Orlando, Florida and San Diego, California metropolitan areas, as well as Wayne County, Michigan. Active Data Technologies says the technology has seen positive results in these three test markets.

After reviewing resource materials on the site and completing a Webinar training program, real estate agents in the test markets submit offers online on behalf of their buyers. 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 can also find information on the site regarding financing and incentive options offered through HomePath.

""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 Author: Heather Cernoch


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