HomePath Online Offers
Guide
for Listing Agents
The guide is designed to assist Fannie Mae Listing Agents using the HomePath Online Offers program. The
HomePath Online Offers program is designed for Fannie Mae Listing Agents and buyers’ Selling Agents to
interact with each other and provide important feedback to Selling Agents regarding the status of their
presented offers.
There is no change to existing processes for the interaction between Listing Agents and Fannie Mae Sales
Representatives under the HomePath Online Offers program. Listing Agents/AMPs remain responsible for
entering every online offer into AMN or Equator and consulting with their Sales Representative before
responding to each offer.
Listing Agents are still required to:

Enter all offers in the Fannie Mae AMN or Equator

Consult with their Fannie Mae Sales Representative or AMP as applicable before responding to offers

Enter offers from ineligible investors not using public funds during the First Look™ period which will be
rejected by the Sales Representative

Comply with the REO Sales Guide in the management of the offer process
Questions about how to navigate the HomePath Online Offers system should be directed to
[email protected].
Note: The Listing Agent and Selling Agent information are for illustrative purposes only.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 1
Table of Contents
Enhancements ....................................................................................................................................3
Make an Offer Screen (Selling Agent) ......................................................................................................3
Explanation of Changes to the Make an Offer Screen..............................................................................5
Make an Offer Breadcrumbs.....................................................................................................................5
Making an Offer (Selling Agent)................................................................................................................5
Listing Agent Dashboard...........................................................................................................................6
Log In ...................................................................................................................................................7
First Time User Log In and Registration (Selling Agent)...........................................................................7
First Time User Log In and Registration (Listing Agent) ...........................................................................8
Subsequent Log Ins ..................................................................................................................................9
Passwords ...........................................................................................................................................9
Forgot Login Password .............................................................................................................................9
Changing Passwords ..............................................................................................................................10
Changing Password at the Profile Screen ..............................................................................................11
Managing Offers (Selling Agent) .....................................................................................................13
Managing Offers (Listing Agent) .....................................................................................................16
Explanation of Online Offer Listings screen............................................................................................16
View Offers .............................................................................................................................................17
Explanation of View Offers screen..........................................................................................................18
Accepting an Offer (Listing Agent)..................................................................................................18
Countering an Offer ..........................................................................................................................19
Rejecting an Offer .............................................................................................................................21
Initiate Multiple Offer Round Process .............................................................................................22
Initiate Multiple Offer Screen in Detail ............................................................................................25
Fall Through ......................................................................................................................................25
Fall Through Procedures Not Done ........................................................................................................28
System Generated Email Notices ....................................................................................................29
Forgot Password and/or Changing Password ........................................................................................29
Selling Agent New Account Creation (Selling Agent will receive) ...........................................................29
Offer to Purchase (Listing Agent will receive) .........................................................................................29
Offer Accepted (Selling Agent will receive).............................................................................................30
Counter Offer (Selling Agent will receive) ...............................................................................................30
Offer Rejected (Selling Agent will receive)..............................................................................................31
Multiple Offer Round Started (Selling Agent will receive) .......................................................................31
Multiple Offer Round Ended (Listing Agent will receive) .........................................................................32
New Listing Agent Account Confirmation (Listing Agent will receive) .....................................................33
Contacts.............................................................................................................................................33
Comments .........................................................................................................................................34
General Comments.................................................................................................................................34
Counter Offers ........................................................................................................................................34
Multiple Offers.........................................................................................................................................34
Frequently Asked Questions...................................................................................................................34
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 2
Enhancements
Beginning August 2, Fannie Mae is launching enhancements to the HomePath® Online Offers system. These
enhancements are a direct response to user feedback and will ease the process of submitting, managing, and
negotiating offers. The new functionality and features include:
•
An offer submission wizard that guides buyers’ agents through the steps to creating an offer.
•
Mandatory document upload: Sales Contract and Fannie Mae Addendum for investor offers
plus the Fannie Mae Owner Occupant certification for non-investor offers.
•
Three new data collection fields to better sync up with required fields in AMN and Equator.
•
Ability to enter international addresses for buyers.
•
Ability to create shorter multiple offer deadlines.
•
More information in notification emails and offer management screens to help you quickly
identify offers.
•
Expanded capabilities to help you manage, organize, and distinguish between active and
inactive offers.
•
Access to training materials from every page of the Online Offers system.
Make an Offer Screen (Selling Agent)
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 3
Those areas with a purple circle around them indicate a new feature to the Offer to Purchase screen. An
explanation follows per indicated number below.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 4
Explanation of Changes to the Make an Offer Screen
Number
Explanation
1
Show screen thread
2
Addition of indictors at the top of every entry screen to show progress and ensure all steps in the offer
entry process have been completed
Each step will have a separate page representing the step you are in.
A continue button will be present at the bottom of the page allowing the user to proceed to the next
step
3
First Look™ counter indicating days left in the First Look period, information will follow HomePath.com
standards
4
Ability to select “Buyer’s country”
5
Requires a “yes” or “no” response
6
Ability to input concessions in dollars or as a percentage of the offer price
7
System will generate “net offer” amount
8
Roll mouse over “Buyer Type” field name to view Buyer Type descriptions
9
Roll mouse over “Buyer’s Representation” field name to view Buyer’s Representation descriptions
10
Addition of Closing Date Field with requirement that date be validated as today +1 to any date in the
future
11
Help box appears on all pages which provides access to help documentation at any time
12
The buyer agent’s phone number is editable
13
Starting in late August, system allows for offer to be saved and completed within a 24 hour timeframe
14
Click on Cancel to cancel offer at any time
Make an Offer Breadcrumbs
The Online Offer process to make an offer has been separated and identified into 5 simple steps:
1.
Offer to Purchase
2.
Offer Review
3.
Terms & Conditions
4.
Upload Documents
5.
Offer Complete
The Online Offers system will track your progress as you proceed through each step.
Making an Offer (Selling Agent)
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 5
This is an overview of what will take place when the Selling Agent makes an offer (please refer to the Online
Offer Selling Agent Guide for detailed instructions).
Once you have selected the property and click the Make an Offer button:
1. Offer to Purchase
a.
b.
c.
d.
Complete Lines 1 through 15 on the Offer to Purchase form
Complete Contingency and Comment field if necessary
Review Transaction Terms of Use
Click the Continue button
2. Offer Review
a. Review the Offer Details
b. Click the Edit button to edit information
3. Terms & Conditions
a. Check boxes for acknowledgement
i. Terms of Use
ii. Permission
b. Click the Submit and Confirm button
4. Upload Offer Documents
a. Click the Upload Documents button
b. Browse/Upload the Addendum
c. Browse/Upload the Sales Contract
d. Browse/Upload the Owner Occupancy Certification (if necessary)
5. Offer Confirmation
a. Print the Confirmation for your records (Selling Agent)
b. Listing Agent receives an email notifying of new offer, see System Generated Email
Notices, Example #3
Listing Agent Dashboard
The Listing Agent Dashboard “My Listings” tab has been changed to “Online Offer Listings.”
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 6
Log In
First Time User Log In and Registration (Selling Agent)
The steps below should be followed by all first time Selling Agents.
Note: Listing Agents will be automatically registered. See below.
Step
Action
1
Go to www.homepath.com.
2
Click on the words “Log In”
3
Click on the Register Now button
Note: Potential Home Buyers are instructed that only licensed Real Estate Agents can submit offers.
4
5
Complete all red starred (*) fields, then click on the Submit button
Review Agent Registration
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 7
Step
Action
If…
Correct
Not Correct
Then…
Click on the Confirm button
Click on the Edit button and make appropriate edits.
Once appropriate edits are made, click on the Confirm button.
Notes:

Selling Agents will receive a confirmation email containing their email address and their initial
password

After confirming their information, Selling Agents will have to contact
[email protected] to update any registration information other than their
passwords
First Time User Log In and Registration (Listing Agent)
Listing Agents will be automatically registered. Fannie Mae will send an email with log in and password
information when the listings are posted initially to HomePath.com.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 8
Subsequent Log Ins
Follow these steps to log into the HomePath Online Offers system if the initial registration has already been
completed and/or you’re a Listing Agent.
Step
Action
1
Go to www.homepath.com
2
Click on the words “Log In”
3
Type in your email address in the Email * box
4
Type your password in the Password* box
5
Click on the Log In button
Note: Listing Agents use log in and password information sent by email upon initial listing of their
properties.
Passwords
Forgot Login Password
Follow these steps to have forgotten password emailed to you.
Step
1
Action
Click on words “Click here” in the Forgot your password line
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 9
Step
Action
2
Type in email address in Email* box
3
Click on the Get my password button.
Note: The password will be emailed to the email address entered into the email box in Step 2.
Changing Passwords
Change Password at Log In Screen
These steps below should be followed to change passwords at the login.
Step
Action
1
Click on the words “Click here” in the “To change your password ….” line.
2
Enter appropriate information in all the starred boxes *
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 10
Step
Action
Note: Password must be 8 characters (letters and/or numbers). Passwords do not expire.
3
Click on the Change password button
Note: The individual will receive a confirmation email which can be seen in the System Generated Email
Notices section, Example #1.
Changing Password at the Profile Screen
These steps below should be followed to change passwords at the Profile screen.
Step
Action
1
Click on the Profile button.
2
Type appropriate information in the following fields; Original password, New password and Confirm
password.
Note: Password must be 8 characters (letters and/or numbers). Passwords do not expire.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 11
Step
3
Action
Click on the Change password button.
Note: The individual will receive a confirmation email which can be seen in the System-Generated Email
Notices section, Example #1.
4
To perform the following tasks, click on the appropriate tab.
If…
Then…
Locating properties
Click on the Home tab
Reviewing offers (Listing Agent and Selling Agent)
Click on the My Offers tab
Reviewing listings (Listing Agent)
Click on the Online Offer
Listings tab
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 12
Managing Offers (Selling Agent)
Below is an overview of all headings that may appear on My Offers screen. Headings that appear will depend
on actions taken.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 13
Notes:

Offers under the Inactive heading are available to be revised by the Selling Agent for as long as the
property is in listed status

The up-down icon
allows for the information under that header to be sorted in ascending or
descending order depending upon the column description
Step
Action
1
View Offer
Click on the words “View Details” to view offers made
Click on My Offers tab to return to screen shot above
2
Listing
Agent
Click on the words “Listing Agent” to view Listing Agent information
Result: The following pop up will appear
Click on the Close button to return to screen shot above
3
Revise
Click on the word “Revise” to update offer and make appropriate changes
Result: The Offer To Purchase screen will appear and follow steps 2 -5 of Making an Offer,
page 6
Notes:
The Selling Agent can revise more than once if needed but each revision requires an upload
of new documents
In a Multiple Offer Round, the Selling Agent will be notified per email to take one of the
following actions, Revise, Rescind or Keep. If they do not take one of these actions before
the deadline their offer will be rejected as shown in the System Generated Email Notices
section, Example #7
4
Rescind
Click on the word “Rescind” to rescind the offer
Result: The following pop up box will appear
Click on the Yes button
Notes:
The Selling Agent can rescind offer at any time
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 14
Step
Action
In a Multiple Offer Round the Selling Agent will be notified per email to take one of the
following actions Revise, Rescind or Keep. If they do not take one of these actions before
the deadline their offer will be rejected as shown in the System Generated Email Notices
section, Example #7
5
Keep
Click on the word “Keep” to keep offer. The following pop up box will appear
Click on the Yes button
Notes:
No documents need be sent as they were sent with initial Offer
In a Multiple Offer Round, the Selling Agent will be notified per email to take one of the
following actions Revise, Rescind or Keep. If they do not take one of these actions before
the deadline their offer will be rejected as shown in the System Generated Email Notices
section, Example #7
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 15
Managing Offers (Listing Agent)
Below is an overview of screen after clicking on Online Offer Listing tab.
Note: Properties are shown in descending order starting with the highest number of active offers.
Explanation of Online Offer Listings screen
1
Listing Details
By clicking on the word “View” the property Listing information will appear from
HomePath
2
Listing Status
Information is pulled from the Listing information page from HomePath
3
Listing Address
Information is pulled from the Listing information page from HomePath
4
List Price
Information is pulled from the Listing information page from HomePath
5
Active Offers
By clicking on the Number of Active Offers the high level offer information screen will
display for that specific property as shown in the example below
Clicking on the number “0” will show offer history on offers made
Click on the Online Offer Listings tab to return to screen shot above
6
Inactive Offers
Displays the number of Inactive Offers for that specific property
7
Offer Status
“No Action Required” – no action required for that specific property
”Action Required” – there has been activity on that specific property that requires
action
”No Offers Available” – there have not been any offers made on that specific property
6
View Offers
By clicking on the words “View Offers” the high level offer information screen will
display for that specific property as shown in the example below
Click on the Online Offer Listings tab to return to screen shot above
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 16
View Offers
This is the View Offers screen which appears after clicking on the words View Offers from example on previous
page.
Notes:

This example is modified to show all possible headings. Results will vary due to actions taken

The process for consulting with Fannie Mae Sales Representatives and/or AMPs and entering information
in AMN or the system of record is not changing.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 17
Explanation of View Offers screen
1
Accepted Offer
Once an offer has been accepted it will populate here.
Note: Once an offer cycles in AMN, or Equator, it will show as Under Contract in
HomePath.com and the Make an Offer button will be removed from listing.
2
Active Offers
Offers will first appear under this heading. Offers can then be viewed to see details
and documentation as well as the appropriate action can be taken e.g. accept,
counter or reject.
3
Multiple Offer
Deadline
Offers that are qualified will appear under this heading after the Initiate Multiple
Offer Process button is clicked on in the Active Offers heading.
4
Active Offers –
Under Negotiation
Offer is under negotiation
Notes:
5
Inactive

These offers do not require any action from the Selling Agent unless a final
deal is struck, in which case they would revise the offer and upload new
documents that reflect the final deal. There is no need to enter counter
proposals in back–and- forth online negotiations

If there are any other offers listed under the Active Offers heading when a
counter is made they will populate under the Active Offers - Pending Review
heading with the only action to take is to reject the offer
Once an offer is rejected it will populate here
Accepting an Offer (Listing Agent)
These steps below should be followed by the Listing Agent to accept an offer.
Step
1
Action
Locate offer to Accept and click Accept
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Not for external publication. For Fannie Mae purposes only.
Page 18
Step
Action
2
Select Yes to accept the offer
3
Result: The rejected offer will populate under Accepted Offer heading of the Online Offer Listings screen.
Listing Agents will see a “New” stamp under the Accepted offer heading
Notes:
 Selling Agents will see the offer under the Accepted Offers heading in the My Offers screen
Countering an Offer
These steps below should be followed by the Listing Agent to counter an offer.
Step
1
Action
Locate offer to Counter and click Counter
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 19
Step
2
Action
Select 2 (Two) Days) radial button unless there is a holiday weekend at such time choose the option that
would best apply
Result: The counter offer will populate the Active Offers – Under Negotiation – Deadline – (Negotiation
End Date) heading of the Online Offer Listings screen.
Listing Agents will see a “New” stamp under the Accepted offer heading.
Notes:

The only action that can be taken is End Negotiation and when clicked on the counter offer will
populate under the Inactive heading with a “Countered” status

Negotiations can take place outside of HomePath.com (over the telephone, fax etc). When deal is
made Selling Agents need to revise offer in HomePath to reflect final deal, go through confirmation
process and upload new docs. If no deal is reached, no action is required by Selling Agent

The Selling Agent will receive an Counter Offer email as shown in the System Generated Email
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 20
Step
Action
Notices section, Example #5

Any other pending offers Selling Agents will receive an Offer Rejected email as shown in the
System Generated Email Notices section, Example #6

Countering an offer must be notated in AMN or Equator as well
Rejecting an Offer
These steps below should be followed by the Listing Agent if an offer is rejected.
Step
Action
1
Locate offer to Reject and click on Reject
2
Click on the Yes button
3
Result: The rejected offer will populate under the Inactive heading of the Online Offer Listings
screen
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 21
Step
Action
Notes:

The Selling Agent will receive an Offer Rejected email as shown in the System Generated
Email Notices section, Example #6

The Listing Agent is responsible for rejecting (after consultation with their Sales Rep or
AMP) any investor offer, not using public funds, during the First Look™ period. Any such
offers still need to be entered into AMN or Equator

Rejecting an offer must be notated in AMN or Equator as well
Initiate Multiple Offer Round Process
These steps below should be followed by the Listing Agent if there are multiple offers on a specific property.
Step
1
Action
Follow present process to determine a multiple offer situation
If it …
Then…
Is
Click on the Initiate Multiple Offer Process button under those listings under the
Active Offers heading
Note: Best Practices states to trigger a Multiple Offers Round whenever two or more
bona fide offers exist
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 22
Step
Action
Select the appropriate radial button for the time frame you which to open the Multiple
Offers Round
Results:
A Multiple Offers heading will appear on the screen
Notes:

If there are offers you do not want to include in the Multiple Offer Round such
as an investor offer during the First Look Period, then click the Reject button
before you initiate the Multiple Offer Round

This will automatically trigger an email informing all impacted Selling Agents
they are in a Multiple Offers Round and provide specific instructions to them
as shown in the System Generated Email Notices section, Example #7

HomePath.com sends the Listing Agent a confirmation email when the
Multiple Offers Round ends
Proceed to Step 2 once the Multiple Offers Deadline Date in orange disappears
Note:
After the multiple offer round ends, the Multiple Offers heading disappears and:
Is Not

Any offers that were revised or kept will appear under the Active Offers
heading

Any offer that was rescinded or where there was no response by the
deadline will appear under the Inactive heading
Click on the appropriate action; “Accept”, “Counter”, “Reject”
Notes:

The Selling Agent needs to respond to the Multiple Offers Form with in the response
deadline. If they do not respond their offer will be automatically rejected. The Selling Agent
can respond by clicking the action link in the Multiple Offers Form or by clicking on one of the
action links their offer on their My Offers page to “Revise”, “Keep” or “Rescind” the offer

Any Selling Agent can join a Multiple Offers Round that is in progress at any time. HomePath
will automatically send out the same Multiple Offers email (with the same deadline) that all
other Selling Agents in the Multiple Offers Round received

A Multiple Offers situation must be notated in AMN or Equator as well
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 23
Step
2
Action
Review and decision offers
If…
Then…
Accepted
Click on the word “Accept”
Notes:
Counter
Reject

Refer to Accepting an Offer page 18

The Selling Agent will receive an Offer Accepted email as
shown in the System Generated Email Notices section, Example
#4
Click on the word “Counter”
Notes:

Refer to Countering an Offer page 19

The Selling Agent will receive a Counter Offer email as shown in
the System Generated Email section, Example #5
Click on the word “Reject”
Notes:

Refer to Rejecting an Offer page 20

The Selling Agent will receive an Offer Rejected email as
shown in the System Generated Email Notices section, Example
#6
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 24
Initiate Multiple Offer Screen in Detail
Notes:
Until the date in orange disappears the Listing Agents cannot end the round early nor can any action be made
on any properties listed as one of the multiple offers, i.e. “Accept”, “Counter”, and/or “Reject”
Once the Multiple Offers Round expires, all responses appear under the Active Offers heading and the Multiple
Offers heading goes away. All Selling Agents offers will be rejected unless they respond within the expiration
date listed in the email they receive
In the far right column, Responded, those Selling Agents that have responded “Yes” or “No” will appear next to
the appropriate offer. This section is designed to help the Listing Agent know who has already responded so
they can reach out to those that have not responded if they choose to
The Multiple Offers Deadline should be 24 hours unless there is a special circumstance (such as a holiday
weekend) approved by the Sales Representative or Asset Manager
Any response to the Multiple Offers form has to be entered by the Selling Agent in HomePath.com
Fall Through
Once a deal has fallen through, follow current procedures in AMN or the system of record
The Listing Agent must take the Fall Through action to put the offer in active offers status. Once this action is
taken the Listing Agent will be able to accept, counter and/or reject incoming offers after the nightly system
cycle. If the Fall Through action is not taken, the only action the Listing Agent can take is to reject incoming
offers.
These steps below should be followed when a deal falls through to allow other offers to be accepted,
countered, or rejected.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 25
Step
1
Action
Click on the words “Fall Through”
Note: The Fall Through functionality will occur after the nightly cycle of Fannie Mae’s system of
record and the Make an Offer button is placed back on the property.
2
Click on the Yes button
Notes:

The Selling Agent will receive an Offer Rejected email as shown in the System
Generated Email Notices section, Example #6

Process is complete in HomePath.com and the offer will show under the Inactive heading
and in Rejected status as shown below
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Not for external publication. For Fannie Mae purposes only.
Page 26
Step
Action

A Fall Through must be notated in AMN or appropriate system of record as well
When the above Fall Through procedures are completed the “Accept”, “Counter” and “Reject” actions can
then be taken on new offers made. The Fall Through offer will appear in under the Inactive heading of the
Online Offer Listing screen as shown below.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 27
Fall Through Procedures Not Done
If the Fall Through procedures are not done, new offers can still be made but the only action a Listing Agent
will be able to take is to reject the offer, as shown below
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 28
System Generated Email Notices
Below are examples of system generated email notices when various actions are taken within the HomePath
Online Offers system.
Forgot Password and/or Changing Password
Example #1
Immediately generated when a request is made to be notified of existing password and/or password that is
changed
Selling Agent New Account Creation (Selling Agent will receive)
Example #2
Immediately generated when a new Selling Agent registers under the online offers program
Offer to Purchase (Listing Agent will receive)
Example #3
Immediately generated when the selling agent submits an offer upon a completed offer submission
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 29
Offer Accepted (Selling Agent will receive)
Example #4
Immediately generated when this listing agent accepts an existing offer
Counter Offer (Selling Agent will receive)
Example #5
Immediately generated when this listing agent counters an existing offer
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 30
Offer Rejected (Selling Agent will receive)
Example #6
Immediately generated when the listing agent rejects an existing offer
Multiple Offer Round Started (Selling Agent will receive)
Example #7
Immediately generated when the Listing Agent starts a multiple offer round. Email will be sent in reply to any
new offers on the listing that are made prior to the deadline with the exception of investor offers that are made
during the First Look Period.
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 31
Multiple Offer Round Ended (Listing Agent will receive)
Example #8
Immediately generated when the response deadline (date and time) for the Multiple Offers Round is reached
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Not for external publication. For Fannie Mae purposes only.
Page 32
New Listing Agent Account Confirmation (Listing Agent will receive)
Example #9
Immediately generated when HomePath creates a new Listing Agent with one or more listing.
Contacts
Assistance for Listing Agents with discrepancies with their listing on HomePath Online Offers or questions,
should email [email protected]
© 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
Page 33
Comments
General Comments
Starting on the launch date, the Selling Agent will need to enter any offer on a property in the HomePath
Online Offers program online at HomePath.com. Listing Agents cannot enter an offer on behalf of the Selling
Agent.
Counter Offers
When the Listing Agent clicks “counter” on an offer, HomePath captures the event of a counter by the seller,
but not the terms of the deal of the counter itself, meaning that the Listing Agent is responsible for
communicating Fannie Mae’s terms to the Selling Agent via customary means.
Multiple Offers
The system-generated email Multiple Offers Form replaces the current paper form for the pilot.
All responses to the Multiple Offers Round, revise or keep, are displayed as “Active Offers – Pending Review”
after the highest and best round expires.
Frequently Asked Questions
General Information 1. How do I get trained on HomePath Online Offers? Please ensure that you (and your team members) attend recorded training on HomePath Online Offers. Please click on question mark listed on the listing details page to access training or send an email to [email protected] to request a link to the training guide. 2. How does HomePath Online Offers handle properties in a ZIP Code that falls partially within and partially outside a county that is eligible for online offers? In any boundary issues involving ZIP codes and county lines, HomePath Online Offers uses the ZIP code to resolve whether a listing is in the pilot. HomePath.com uses the list of ZIP codes in a county in the pilot markets in their entirety, even if a given ZIP code straddles the county line. 3. Is the HomePath online offer system applicable to all HomePath properties in both the direct and the outsourced sales channels? Yes. 4. Once an offer is accepted, does the Listing Agent still prepare the contracts and send them to the Selling Agent or does HomePath do this automatically? There is no change to the existing process. Upon acceptance, a new sales contract and addendum reflecting the final negotiated terms must be prepared, signed by the buyer and submitted for seller signature. HomePath does not automatically do this. 5. If the Selling Agent does not upload a buyer‐signed Fannie Mae Addendum will the offer be considered complete and presented to the Listing Broker? No. The Selling Agents will now be required to upload the sales contract and Fannie Mae Addendum (and in some instances the owner occupant certification form) in order for their offer to be considered complete, otherwise their offer will not be considered and will not be presented to the listing broker for review. 6. Does the HomePath Online Offers pilot help with owner occupant verification? © 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
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No. The Listing Agent will perform due diligence to verify that the prospective buyer is an owner occupant by following the existing processes. However, the selling agent should upload the Owner Occupant Certification form when they submit an offer for a owner occupant buyer. Buyers who are investors do not have to submit this form. 7. Does Fannie Mae or its AMPs have access to the online offer history in HomePath.com? Yes. 8. Does HomePath enter offers into the system of record (AMN or Equator) automatically? No. The Listing Agent must still follow the existing processes to enter all offers in the system of record. 9. Should I encourage the Selling Agent to upload any additional documents or attachments to the sales contract and Fannie Mae Addendum in HomePath.com? No. It is very important that the Selling Agent should upload only the sales contract and Fannie Mae Addendum to an online offer in HomePath.com. The Selling Agent is asked to affirm that these uploaded documents are free of any attachments or additional information of any kind. 10. How can the Selling Agent comply with the request to upload the complete Fannie Mae Addendum with the online offer, when he or she does not know the acknowledgement date? In order to submit an offer, the Fannie Mae Addendum must be signed and complete except for the acknowledgement date. Upon reaching an agreement, the Listing Agent will prepare a new sales contract and Fannie Mae Addendum reflecting the final negotiated terms and the acknowledgement date will be included at that time. 11. Does the Online Offers system affect both new and existing listings? Yes. 12. Does the Listing Agent need to put paper offers that were received prior to the HomePath online offers launch date into the system? No, the Listing Agent should enter paper offers received prior to the launch date into their existing system of record, not into HomePath Online Offers system. 13. What should I expect in the days immediately following the launch date?  Paper offers received prior to the launch date that are still pending a seller response will continue to work their way through the old offer process.  During the first 48 hours immediately following the launch, please take care to consult with your Sales Rep or AMP before taking action on offers submitted before the launch date and that are still pending review.  By the third day post launch, paper offers still pending should have received a response from the seller. 14. Who do I contact if I still have questions? [email protected] Preparing a Online Offer Listing 15. How can Listing Agents prepare for a successful launch of HomePath Online Offers? Step 1: Take advantage of training resources (FAQs, Online Offer Guides, etc.) provided by Fannie Mae. Step 2: Check each Fannie Mae REO listing to verify the following: o The Listing Agent’s email address is correct and consistent across each of the following sources (if applicable) AMN, ListHub, MLS, with your agency. o The ZIP code is correct. © 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
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o The MLS Agent Comment’s specify that all offers must be submitted in HomePath.com. 16. When will I be notified of my HomePath.com Listing Agent account and password so I can view my listings? Existing Listing Agents will receive an email containing your HomePath Listing Agent account and password on the launch date. New Listing agents will receive an email containing their HomePath Listing Agent account and password on the next day after their first listing is assigned in the Fannie Mae systems of record. 17. What are the Listing Agent’s new responsibilities for marketing their listings in the counties where Online Offers are available? For actively marketed HomePath properties in the target markets or for any new listings in the target market after the launch date, please do the following: Please place the following sentence in the Agent Only Remarks in an MLS listing in Orlando or San Diego: “The seller has directed that all offers on this listing should be made online in HomePath.com. Please go to www.homepath.com to make an offer.” Please place the following sentence in the Agent Only Remarks in an MLS listing in Detroit: “The seller has directed that all offers on this listing should be made online in HomePath.com. Please go to www.homepath.com to make an offer.” 18. The San Diego MLS does not allow a URL under agent remarks. It can only be included in confidential remarks. How do we handle that? Place the message that the seller requires online offers in the agent remarks and place the URL in the confidential remarks. © 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
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Managing Offers 19. Are Listing Agents able to accept offers from Selling Agents via fax or hand delivery instead of through HomePath.com? No. All offers in the areas that are eligible to receive online offers have to be submitted online through HomePath. 20. Can the Listing Agent enter the offer into HomePath.com on behalf of the Selling Agent? No, the Listing Agent cannot enter the offer in HomePath.com on behalf of the Selling Agent. If the Listing Agent believes there is a situation where it is not possible for the Selling Agent to enter the offer via HomePath Online Offers, the Listing Agent may contact their Fannie Mae sales representative or AMP to explain the situation. Any variance to the requirement that offers be submitted through HomePath Online Offers will require Fannie Mae written authorization. It is anticipated that authorization will only be given in extreme or unforeseen circumstances. 21. Is there any change in the way Listing Agents submit offers to Fannie Mae? No. The HomePath Online Offers pilot automates communication between the Selling Agent and the Listing Agent. There is no automated interface between HomePath Online Offers and the Listing Agents’ existing systems of record. Listing Agents will continue to transmit each offer to Fannie Mae and consult with their Sales Rep or AMP as they do today. 22. What do I do when HomePath does not display the “Make an Offer” button on a HomePath property that I know is being actively marketed within the counties eligible for Online Offers? HomePath does not provide the option to “Make an Offer” on a property whose status indicates that it is a) coming soon to the market; b) under contract or c) locked down for auction. Moreover, only properties with ZIP codes located within the target counties (Lake, Orange, Osceola and Seminole Counties in Florida, San Diego County in California and Wayne County in Michigan) are eligible for HomePath online offers. If a HomePath property is being actively marketed (not found in “Coming Soon” or “Under Contract” status in the system of record or locked down for auction) and it is located within a ZIP code within the pilot counties, the “Make an Offer” button should be displayed. Please check the listing to ensure that the ZIP code is correct. If the ZIP code is correct, report the problem to Fannie Mae at [email protected]. 23. Are properties which have been locked down for alternative disposition eligible for online offers? No. 24. What do I do when I can’t find one of my Fannie Mae REO properties in one of the counties that are eligible for online offers in HomePath on the My Listings screen? Please check the listing to ensure that the Listing Broker’s email address is correct. Second, please verify the property status is not “Coming Soon” or “Under Contract”. Third, please check to make sure the listing has not been locked down for auction. If you have verified that the property should have the Make an Offer button turned on and the Listing Broker’s email address is correct, report the problem to Fannie Mae via email at [email protected]. 25. Do all offers need to be submitted in HomePath.com for the multiple offer functionality to work? Yes, all offers must be submitted in HomePath.com in order for the multiple offers functionality (to request highest and best from competing offers) to work properly. 26. What should I do if a Selling Agent sends me a paper offer instead of submitting an online offer in HomePath? The goal of the Online Offer system is to get the Selling Agents to enter 100% of their offers into HomePath.com. HomePath functionality such as multiple offers only works correctly if all the offers are in the system. © 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
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Please encourage the Selling Agent to put in their online offer in HomePath. After the Selling Agent reviews the training content (webinars, FAQs, etc.) on the HomePath online offers help page, they should be able to submit an offer in less than 10 minutes. You may want to coach the Selling Agent through their first HomePath online offer, but please do not attempt to make the offer for the Selling Agent. 27. I updated information in my system of record (AMN or Equator), but I’m not seeing the change reflected on HomePath.com. Why not? Data is sent from Fannie Mae to HomePath.com on a nightly basis (excluding Sundays). Data that you update in either AMN or your system of record will not appear until the following day. Changes that you make in HomePath regarding Online Offers will be visible immediately. 28. I have an online offer from an investor, not using public funds, and the property is still under First Look. What should I do? As it is today, Fannie Mae asks to see all offers presented on a property, so enter the offer into AMN or your system of record. The Selling Agent representing the Investor will receive a warning message reminding them that offers from Investors not using public funds are not considered during First Look Period. If other offers are made on this property, creating a need for a Multiple Offers Round, reject the Investor offer before triggering the Multiple Offers Round. 29. I have a listing in a county that is eligible for Online Offers which has an accepted offer in HomePath, but another online offer came in. What should I do? The Make an Offer button is removed via the overnight data feed to HomePath.com from the Fannie Mae systems of record. As a result, it is possible that the Listing Agent will receive an online offer on a property after the Listing Agent has accepted an offer on that listing in HomePath (later the same day). It may take up to a full 24 hours after an offer is accepted until the property is marked as “under contract” in HomePath.com and the “Make an Offer” button is turned off. Please consult with your Sales Rep or AMP and verify whether to reject the offer that came in after the accepted offer. 30. Fannie Mae has countered an online offer. Which action should I take in HomePath? The first step is to log in to HomePath.com, select the offer that was countered and click “Counter”. The Selling Agent will automatically receive an email notifying them that the seller has countered the offer and that they should contact you immediately for details. You will see that the only action available on that property now is “End Negotiation.” While this property is under negotiation, other offers may continue to be placed on this property, but the only action available on these offers is “Reject”. Iterations of the negotiation do not need to be entered into HomePath.com. However, if a deal is struck with the Selling Agent, the Selling Agent needs to revise their offer accordingly so that you can accept the revised offer. You need to click “End Negotiation” on the counter before you can accept the revised offer. If no deal is struck, no response to the counter in HomePath Online Offers is required on the part of the Selling Agent. You must “End Negotiation” to open the property back up to other offers. You should not reject other offers on a property Under Negotiation unless it is an investor offer (not using public funds) during First Look. If you do not click “End Negotiation”, no other offers can be accepted or countered on the listing. Moreover, you cannot trigger a Multiple Offers Round on a property that is still Under Negotiation. 31. If I need to mark an offer in HomePath as countered, do I enter the deal terms for the counter offer in HomePath? © 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
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No. Under the pilot, the Listing Agent will only use HomePath to enter the existence of the counter (which puts the listing into “Active Offers ‐ Under Negotiation”) but HomePath does not capture the deal terms of the counter offer itself. 32. What happens when the negotiating deadline is reached on a counter? Does the system prompt me to end negotiations? Under the pilot program, the counter negotiating deadline in HomePath is used strictly to create a sense of urgency with the Selling Agent. HomePath does not prompt the Listing Agent to end negotiations. In the future, the negotiating deadline may be used for automate more functionality relating to counter offers. 33. An accepted offer fell through, and I clicked 'Fall Through' but the 'Make an Offer' button is still not visible on the listing. First, please verify that you have recorded the fact that the offer fell through in both HomePath.com and the system of record. The system of record will drive an update to the property status via the overnight TRAX feed, so you should see the Make an Offer” button reappear at the start of business on the next business day. 34. Does the Listing Agent have the authority to accept or reject an offer within the online offers system without consulting their Fannie Mae sales representative or Asset Management Provider? No. The Listing Agent must submit all offers that meet the submission guidelines (including a signed sales contract and Fannie Mae Addendum) into the Fannie Mae system of record. The Sales Rep or Asset Manager will make a decision on each offer and then the Listing Agent will use HomePath.com to communicate that decision back to the Selling Agent. © 2011 Fannie Mae. Trademarks of Fannie Mae.
Not for external publication. For Fannie Mae purposes only.
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