Step-by-Step Guide for applying as a Fannie Mae REO Agent:

1. Go to www.homepath.com/realestate.html
2. Scroll to the “Apply to Become a HomePath Listing Agent” button.
3. Read all instructions carefully.
4. Click REO Real Estate Brokers registration link
5. Fill out the form completely.
6. Receive the SAP login – this will arrive by email.  It does not guarantee that you are an approved REO agent
7. Round 2 for the application process includes a phone interview.  Be ready for this and don’t blow it!
8. If you’re given an opportunity to work with Fannie Mae, it’s important to know that they are watching and scoring at all times.  Your scorecard is what determines your future with Fannie.
9. If you are accepted, you’ll receive a “Vendor Packet”.  It will provide full instructions, contact information, and documents that you will need.
10. Receive a Vendor ID
11. Login information to AMN (the Fannie Mae portal)

TIPS to a strong application:

• Focus on helping the asset management team by reducing holding time, carrying costs, and overall management overheard.
• Emphasize your effective owner-occupied Cash-For-Keys abilities and techniques.
• Reiterate your thorough knowledge of the region, marketing statistics, Homeowners Association guidelines, local code enforcement guidelines.
• Membership of REO organizations, credentials & training, and continued education within the default servicing industry.
• Most importantly, don’t give up!  This process has taken some agents months and months to go through.  But, when you are accepted, the rewards are very good.

Are you ready for 2012?

2011 has been an amazing year for real estate, politics, Wall Street, Main Street, and every bit of real estate.  NFSTI has become a virtual social networking environment for default servicing experts around the country and has a long history in the REO arena.  Since the subprime mortgage meltdown NFSTI has become a one-man operation.  I (Dan) enjoy keeping NFSTI operating because of all the REO history that I’ve had, the experiences of traveling around the country doing 2-day seminars, participating the REO expos and conventions, and the great people I’ve met along the way.

My commitment to you is that I will continue to manage and monitor the system, add fresh content as it arises, and assist members however I can with their NFSTI membership accounts.  I hope that you enjoy the content and take it for what it’s worth.  The material within the Member Groups (DS Core, SEO, Social Media Marketing, and others) comes from real-life experience, research, and trials.  The content is not only my experiences (which I later built an entire enterprise around that still thrives to this day), but also the expertise of many colleagues, friends, coworkers, and experts from throughout the industry.

As a reminder, many memberships will be updating in January, February, and March of 2012.  Many members will be automatically charged the annual fee of either $25 or $50, depending on your membership level.  If you do not intend to renew your membership, that’s OK.  Please visit your PayPal or credit card account and discontinue the automatic payment.  Otherwise, simply enjoy your holidays and know that NFSTI will continue to strive for excellence in serving our members.

I wish you a very Happy Holiday Season, a Happy New Year, and all the best to you and your families.

Sincerely,

Dan Waterman

Yes, it’s true…over 10 million homes may fall into the foreclosure conveyor belt in the next 6 months unless the government takes more drastic measures.  Between homeowners being in default, properties currently in the foreclosure process, and the ever-popular shadow inventory, we’re looking at approximately 10.4 million homes in default.  If this were to happen our country would have 3 years of inventory on our hands given the current rate of liquidation.

Investors appear to be the answer to the governments dilemma.  When Congress asked housing experts how to trim back this massive inventory the answer they got back was “private investors”.  Rehab programs are looking like the wave of the future and could help our country climb out of debt.

What does this mean?

1. Get your hands on some asset management/REO accounts.  How do you do this?  WORK, WORK, WORK.  And, read the NFSTI DS Core Instruction Manual
2. Start networking in local investor groups.
3. Get educated on rehab loan programs.

For more information you can read this article:  10 Million more mortgages set to default, expert says.

It’s recently come to my attention that I’m not the only person who’s had to consider some alternative forms of income after the 2009 real estate crash.  There’s something strong to be said about riding out the storm that we’re seeing in real estate.  You’ll definitely reap the rewards when things pick up again.  What I’ve done is created a GROUP called “Secondary & Residual Income” to help share various ways to acquire supplemental income while the times are a bit slow.

Yes, I’ve been told that Premier Asset Services is picking up again.  But it’s only a matter of time before they get what they need and it dries up for a few months.  I’m sick of the high peaks and valleys that REO/BPO has, so here are a few ways to make more money in the meantime without interfering with your real estate business:

• Start a side business on the Internet
• Network Marketing
• Consulting
• Outsourcing
• Freelancing
• Sell Skilled Services (interpreter, bookkeeping, tutoring, resume writing)
• Write and Sell an eBook

The key to pulling this off without causing your business to suffer is efficiency.  There are a couple things that you must think about before diving into something like this.  First of all, you want to make sure that your real estate business is operating smoothly even when you’re not available.  If you don’t have efficient work flows for phone calls, emails, lead management, customer management, contract management, and appointment setting then you need to begin here.  Once you have this in place you can consider a secondary form of income.

There are 3 types of income:

1. Earned Income (trade hours for dollars)
2. Portfolio Income (interest gained on investments)
3. Passive Income (money is made while you sleep)

We’re going to focus on Earned and Passive income.  If you have Portfolio income, then I’m sure you are already past this lesson.  Selecting a second income source is tricky.   Personally, I chose to “diversify” be choosing 3 sources of income:  2 Earned incomes, and 1 Passive income.  The earned income generates money for me much more quickly, however; the day I stop working (sick, death, retire, accident, lose clients, etc) is the day my money dries up.   The passive income generates money at a much slower rate, but it will keep producing money for the rest of my life regardless of how many hours I put in.

Once you have selected your next business start meeting with professionals who will give you good, honest, sound advice.  WARNING:  Your relative and/or friend who is broke, bankrupt, and foreclosed on is not considered a good source of this advice.   Examples of good advisers are:  local business attorney, bookkeeper, business manager, supervisors, experienced entrepreneurs.  Share your business idea and ask their opinion.

After you select the next business you’ll pursue it’s time to set up a strong infrastructure.  This varies depending on the type of business you set up, but here’s the goal:

“Generate the Greatest Amount of Income with the Least Amount of Effort without Sacrificing Integrity”

This takes a lot of prep work and research.  There’s no “silver bullet” to accomplishing this, but you can gather some opinions to get a good idea on what might work.

If this is something you’re interested in, I suggest you check out NFSTI’s latest Group called “Secondary & Residual Income”.  The link is below:

Ultimate NFSTI Membership:   Creating Perpetual Wealth

Quit living paycheck-to-paycheck While Helping Your Sphere of Influence

BONUS

NFSTI is now offering an unlimited lifetime membership to www.nfsti.com just for getting started in the most lucrative business in the country – Deregulated Energy.

Thousands of busy professionals, including many of the top real estate agents in the country, are already a part of this easy, enjoyable, lucrative, helpful business and supplementing their income by upwards of $10,000+ per month.

You don’t need to know anything about the energy industry other than:

1. It is now deregulated and every other deregulated market in history has created massive wealth (e.g. Telecom, Ma Bell Phones, Railroads, Airlines)
2. This system is proven, flawless, and fun
3. Saves homeowners around the country money every month
4. No contracts, no commitments, and no adjustments to life
5. The industry hasn’t boomed…YET, but it’s close

Included:

• Unlimited Lifetime access to NFSTI.com.  Training, Certification, Networking, Leads
• Independent Consultant account with America’s Fastest Growing Private Company (Inc. Magazine 2010)
  

  Easy to Use Control Panel

• Weekly Training
• Customizable management system
• Full Marketing system
• Personalized website
• Weekly Coaching
• “Green Energy” option
• Nothing to sell
• Saving American’s money on something they already use

3 Questions to Ask Yourself:

1. How many people do you know who use electric or gas?
2. How many people do you know that would like to reduce their cost of electric or gas?
3. How many homeowners have you worked with who trust your opinion?

Watch a video that could change your life:

*  The NFSTI Ultimate Unlimited Access for life membership will be provided when you become an Marketing Consultant for Ambit Energy via the link provided above titled “Learn More”.