RealSelect, Inc. has announced a new partnership with Fannie Mae, the nation's largest source of funds for home mortgages. Beginning later this year, REALTOR.COM will offer consumers Fannie Mae’s extensive education materials and information about the home financing process and also promote Fannie Mae-owned foreclosed properties listed for sale by real estate brokers.

As a result of this new partnership, consumers visiting REALTOR.COM will benefit from being able to explore Fannie Mae’s comprehensive content on the steps to obtain a mortgage, which was previously only available online through Fannie Mae's HOMEPATH.COM Web site. The content includes all the step-by-step information a potential home buyer needs: tests to determine if they are ready to buy; facts on how to qualify for a mortgage; product descriptions of different mortgage choices; instructions for shopping for the best loan; and insight into the closing process.

Regarding Fannie Mae-owned properties, consumers and real estate professionals will benefit as a result of the increased promotion of the foreclosure listings on REALTOR.COM. Fannie Mae sells more than 20,000 foreclosed properties each year. At any given time, as many as 5,000 of them are listed by real estate brokers and are often available with special financing terms and discounts at closing.

"Through our partnership with Fannie Mae, REALTOR.COM’s industry-leading content will be further enhanced," said Stuart Wolff, CEO and chairman of RealSelect, Inc. "We pride ourselves on delivering a best-in-category experience to our visitors and Fannie Mae’s exceptional offerings are a great fit. From Fannie Mae’s helpful information about the often-confusing mortgage process, to the heightened visibility of foreclosed properties, REALTOR.COM will be able to take yet another step in satisfying consumer and agents’ needs," added Wolff.

"The consumer materials that Fannie Mae has developed helps thousands of home shoppers become home buyers," said John Buckley, senior vice president of communications for Fannie Mae. "We chose to team-up with REALTOR.COM to put this valuable information at the finger tips of millions of potential home buyers who visit REALTOR.COM every month. Add this to the opportunity to make our foreclosed properties easier for the interested visitor to identify, and we believe REALTOR.COM and Fannie Mae will set new standards for how and where this content is presented," added Buckley.

Fannie Mae is a congressionally chartered, shareholder-owned company and the nation's largest source of funds for home mortgages.

Published: August 25, 1998

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