Tag Archives: HomeSteps

Freddie Mac announced the company is teaming up with the Veterans Association of Real Estate Professionals and the Kingdom Community Development Corporation to hold the American Heroes Housing Fair and Open House on June 21 in Fayetteville, North Carolina.

Freddie Mac has expanded its winter REO sales incentive program to the states of Alaska, Kansas, Kentucky, Missouri, Oregon, and Washington. That makes the promotional offer now active in 33 states and the District of Columbia. The winter sales promo is being offered through HomeSteps, Freddie Mac's REO disposition unit, and pays an extra $1,000 bonus to the selling agent, as well as additional incentives to owner occupant buyers. Offers must be received by January 31, 2012.

Freddie Mac's REO disposition unit HomeSteps rolled out a new program this week aimed at trimming its inventory of foreclosed condominiums. HomeSteps' Condo Cash is a special limited time offer that will provide eligible condominium buyers with up to $1,500 for standard condominium association dues. Offers must be submitted between August 15 and November 15, 2011 and close escrows by December 30, 2011.

Freddie Mac announced Monday the launch of a nationwide sales promotion for its inventory of foreclosed homes. Selling agents will receive a bonus of $1,200 for initial offers received between May 16th and July 31st with escrows closed on or before the final day of September. The extra incentive applies to Freddie Mac's HomeSteps properties sold to owner-occupant buyers. As of the end of the first quarter, Freddie Mac held 65,174 REO homes.

Freddie Mac is offering a $1,000 selling agent bonus on its REO homes in the Las Vegas area, for which an offer is received by May 16, with escrow closed by July 1. REO buyers are getting an incentive too. Freddie Mac will pay up to 3.5 percent of the closing cost on purchases that meet the offer and escrow deadlines outlined above. Some homes will also come with a two-year limited home warranty.

Freddie Mac said Wednesday that it has selected Green River Capital and Atlas REO Services to provide sales and disposition support to HomeSteps. HomeSteps is the GSE's real estate sales unit. It markets Freddie Mac-owned REO homes nationwide through local real estate brokers. Freddie Mac says it has contracted the two firms to expand its capacity to handle expected increases in REO inflow volumes.

The National Association of Realtors (NAR) issued a notice to its members Monday alerting them that Freddie Mac plans to cut back the amount of commission paid for REOs sold in certain states. The GSE said it decided to institute the commission reductions in order to reduce expenses, after considering various data in the affected states. The new payment structures apply to Freddie Mac-owned HomeSteps properties that are listed with a real estate broker on or after January 1, 2011.