At Fannie Mae, the mission of the Fannie Mae Property Maintenance team is to ensure the quality of our REO property maintenance services, consistently producing best-in-class, market-ready properties and maintaining them until removal from our inventory.
To ensure the quality of the services provided by the Property Maintenance vendors, Fannie Mae uses three layers of property inspections including our Agents, national third-party inspection companies, and Fannie Mae Field QC Specialists.
Fannie Mae Agents perform thorough inspections on 100% of the properties to verify that cleaning services and trash removal performed meet Fannie Mae expectations and that safety issues have been addressed.
Each month, Fannie Mae utilizes national field inspection companies to perform random quality control inspections. These inspections allow us to implement better process controls, manage our vendor performance, and apply training programs to maximize staging and minimize disposition timelines. These inspections help ensure property maintenance work has been performed to our expectations, as well as point out any marketing issues such as missing realtor signs and materials. These inspections are ordered for 30% of our inventory nationwide each month, including all properties located in minority census tracts.
Fannie Mae employs specialists who are located in key markets to perform inspections of our properties, as well as provide in-the-field training to our sales teams, real estate agents and vendors. Fannie Mae recently added staff to its QC team and increased the number of in-the-field training sessions for real estate agents and vendors.
Fannie Mae also responds to property-specific issues reported to it by third parties through recently-enhanced links on HomePath.com or by telephone to its Resource Center.