HomePath Online Offers Guide for Listing Agents

HomePath Online Offers Guide for Listing Agents 2016 Fannie Mae. Trademarks of Fannie Mae. June 2016 1

Table of Contents Introduction... 3 HomePath Online Offers User Support... 3 Registration and Login... 4 Log In To Your Account... 4 Changing Your Password... 5 HomePath Online Offers System... 7 Online Offers Process... 8 Viewing Offers... 9 Submitting Offers into Equator... 13 Responding to Offers... 14 Offer Status Headings... 16 Multiple Offer Process... 17 Counter Offer Process... 19 Pre-Accept Offer Process... 21 Accept Process... 22 Fall Through Process... 23 Reject Process... 24 Email Notifications... 25 Listing Agent Account Confirmation... 25 Forgot Password, Changed Password... 25 Offer to Purchase... 26 Multiple Offer Round Started... 27 Multiple Offer Round Ended... 28 Counter Offer... 29 Offer Revised... 30 Offer Rescinded... 31 Offer Pre-Accepted... 32 Buyer Submits with No Changes... 33 Offer Rejected... 34 Frequently Asked Questions... 35 General Information... 35 Preparing an Online Offers Listing... 36 Managing Offers... 36 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 2

Introduction The guide is designed to assist Fannie Mae listing agents using the HomePath Online Offers system. The HomePath Online Offers system is designed for Fannie Mae listing agents and buyers selling agents to interact with each other and to 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. Listing agents remain responsible for entering every online offer into the Fannie Mae system of record (Equator) and consulting with their sales representative before responding to each offer. Listing agents are still required to: Enter all offers in the system of record (Equator*). Consult with Fannie Mae Sales Representative, as applicable, before responding to offers. Enter offers from ineligible investors not using public funds during the First Look period into Equator. These offers will be rejected by the Sales Representative. Comply with the REO Sales Guide in the management of the offer process. Note: The listing agent, selling agent and offer data in this guide are wholly fictional. Website content and functions are subject to change. HomePath Online Offers User Support Listing agents with questions about the HomePath Online Offers system should call the HomePath Online Offers User Support Center at 1-866-218-4446, available Mon. - Fri., 9 a.m. - 9 p.m. Eastern time. *Equator The information and examples contained in this manual do not constitute legal advice, no attorney-client relationship is created between you and Equator, and this is not a substitute for obtaining legal advice from a qualified attorney licensed in your state regarding dates, processes, time-lines, deadlines and other information related to the Equator Vendor Workstation. The information in this manual is subject to change and is not guaranteed to be complete, correct or up-to-date. EQUATOR, LLC PROPRIETARY, CONFIDENTIAL AND TRADE SECRET INFORMATION. This document may contain proprietary, confidential and trade secret information of Equator. Any disclosure, copying, distribution or use of any of the information contained herein that is not expressly permitted by Equator, LLC in writing is STRICTLY PROHIBITED. For additional information, please contact Equator LLC by e-mail at info@equator.com 2013 Equator, LLC. All Rights Reserved. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 3

Registration and Login Listing agents will be registered automatically by Fannie Mae. You will receive an email (similar to the email on page 25) with login and password information when your listings are initially posted to HomePath.com. Log In To Your Account Follow these steps to log in to the HomePath Online Offers system. Use the email and password that is sent with your listings. 1. Go to http://www.homepath.com and click the Log In button in the upper right corner. 2. Type your email address and password and click the Login button. Note: Use your temporary password the first time you log in. You will be able to change it later. If you forget your password, you can click the Forgot your password? link. You will then be asked to enter your email address to receive instructions within the next few minutes on how to reset your password. Note: Passwords do not expire, but you should keep your password secure. Never share your password with anyone else. We recommend that you change your password regularly. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 4

Changing Your Password Complete the following steps if you would like to change your temporary password after your first login or at anytime. 1. Select Account from the drop-down menu in the upper right corner. 2. Type your original password in the Original Password field. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 5

Change Your Password, continued 3. Type your new password in the New Password field. Use the following password requirements: Eight (8) characters. One (1) UPPER case character One (1) lower case character One (1) of these special characters:! @ # $ % _ & * One (1) numeric character Do not use the greater-than (>), less-than (<) or semi-colon (;) Do not use any word from the dictionary or a proper name Do not use your first name, last name, or userid 4. Confirm your new password by typing it in the Confirm Password field. 5. Click the Change Password button. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 6

HomePath Online Offers System Listing Agents Submitting an Offer on a Fannie Mae Property Listing agents must use the HomePath Online Offers system when representing a buyer and submitting an offer on a Fannie Mae property. Refer to the Online Offers Guide for Selling Agents for instructions on submitting an offer. You may also refer to that guide if a selling agent asks for your assistance in using the HomePath Online Offers system. Keep in mind that you cannot submit an online offer on behalf of a selling agent. All offers received from the Online Offers system must also be submitted in Equator. Your Fannie Mae Sales Representative will then respond through Equator by accepting, countering, or rejecting the submitted offer(s). See the REO Sales Guide, Section 8: Managing Offers and Executing Contracts, for detailed information on the offer management process. The remainder of this guide applies when you are operating as a listing agent. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 7

Online Offers Process There are three phases in the Online Offers process: Viewing Offers Submitting Offers into the system of record (Equator) Responding to Offers Complete the steps on the following pages for each phase. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 8

Viewing Offers Complete the following steps to view offers for a listing. 1. Login and click the Listings link in the upper right corner. 2. Click the Online Offers tab. The Online Offers tab will show all of your active listings. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 9

Viewing Offers, continued 3. Use the REO ID to locate a specific listing. Listings will be organized by the number of active offers, in descending order. Listings with offers that have not yet been viewed or those that have changed status since you last viewed them will be marked with a bold red NEW medallion. Any listing which requires that you take action due to new offer activity will be marked with an Offer Status of Action Required. 4. Click the View Offers link on the right side of the screen to see all offers for a particular listing. The Offers page will appear. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 10

Viewing Offers, continued 5. The Offers page will provide the following information: o o o o o o o o o Property Listing Information Offer ID Number Date and Time the Offer was Submitted Offer Amount Occupancy (Buyer Type) Financing Type Selling Agent Information Offer Status Action Required on Offer 6. Click the View Offer link on the left side of the screen for the offer you want to view for that listing. The Offer Details screen will appear. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 11

Viewing Offers, continued 7. The Offer Details page will provide the following information: Date and Time the Offer was Submitted Buyer s Name and Address Offer Amount Concessions Buyer Type Financing Type 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 12

Submitting Offers into Equator You must submit all complete offers from the Online Offers system into the Fannie Mae system of record (Equator) within one day of receipt. All offers are submitted even if the offer is currently ineligible, such as an investor offer that is submitted during the First Look period. Refer to the REO Sales Guide for exceptions and the elements required for a complete offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 13

Responding to Offers Offer responses are directed by your Fannie Mae Sales Representative. Refer to the REO Sales Guide, Section 8, for additional offer management instructions. Listed below is a summary of the response options. Multiple Offer: All active offers currently in a Multiple Offer round are grouped together under the Multiple Offer heading, with the response deadline indicated. No response options are available for the listing agent until the deadline passes. Selling agents who submit new offers while the multiple offer round is underway will be automatically sent an invitation to participate in the Multiple Offer round and given the existing time and date deadline. The multiple offer email that selling agents receive also directs them to revise their offer to ensure they are submitting the highest and best offer. If new offers are received after the Multiple Offer round has ended, or the time allotted was not adequate to receive responses from selling agents, you may begin another round on all Active offers by clicking the Initiate Multiple Offer Process link. Counter: Only one offer can be negotiated at a time in the Counter Offer process. Offers that have been countered are shown under the Counter Offers heading. While an offer is under negotiation, you may be awaiting a response from a selling agent or you may be in the process of entering a counter offer you have received from the Fannie Mae sales representative. On any Counter offer you submit on behalf of Fannie Mae, the selling agent will have the option to Accept, Counter, or Rescind. Please note if they accept your Counter, the terms of acceptance are subject to the terms laid out in the Real Estate Purchase Addendum. While you are awaiting a response from the selling agent, the only option you can take on a Counter Offer is to end negotiation. After ending negotiations, the last offer that was presented by the selling agent will remain as an Active Offer, you can click Pre-Accept, Accept, Reject, or include this offer in a Multiple Offer round if other offers are present. If additional offers are submitted by selling agents while an offer is under negotiation, they will be stores under the Active Offer heading, but will not be available for negotiation. Any other offers that are present after a negotiated offer has been accepted by Fannie Mae as materially sufficient will remain in the Active offers section for 48 hours. After 48 hours, these offers will be automatically rejected. Reject: Offers that have been rejected are shown under the Inactive heading. No further actions can be taken on this offer by the listing agent, but the selling agent can click the Revise link to modify and resubmit the offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 14

Responding to Offers, continued Pre-Accept: The final negotiations and terms on this offer have been accepted by Fannie Mae as materially sufficient, as evidenced by the status in Equator (Pending), but the Online Offers system does not reflect the final negotiated terms and documents. By selecting Pre-Accept, the selling agent is prompted via email to revise the offer terms and documents (if readily available) to reflect the final negotiated terms. It is always best to select Pre-Accept if the terms in the Online Offers system do not correspond to the final negotiated terms. By taking this action, all other active offers will be rejected. While the listing agent awaits response from the selling agent, no action can be taken except to reject the offer. After the selling agent responds, and the terms and documents (if readily available are uploaded), the listing agent may Accept or Reject the offer. If the terms are still not correct, the listing agent can Pre-Accept the offer again, prompting the selling agent to revise it again. The listing agent must make contact with the selling agent and provide the details of the discrepancy. Accept: An offer shown under the Accepted Offer heading has been accepted by Fannie Mae as materially sufficient, subject to the terms of the Fannie Mae Real Estate Purchase Addendum. The contract is not binding until executed by Fannie Mae. The only option for this offer becomes Fall Through. All other active offers are rejected. The selling agent cannot Revise offer terms or documents. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 15

Offer Status Headings After you have taken action in the Online Offers system based on the direction of your Sales Representative, your offers will be grouped under the following categories: Accepted Offer: Offers that have been accepted by Fannie Mae as materially sufficient. Pre-Accepted Offers: Offers that are ready to be accepted but you have requested that the selling agent revise the offer to reflect the final negotiated terms. Active Offers: Any active offer on which you have yet to take action. Counter Offers: Offers that you have countered and are awaiting a response from the selling agent by the deadline shown. Multiple Offer: Offers that are in a Multiple Offer round until the deadline shown. Inactive: Fall through, rejected and rescinded (withdrawn) offers. Note: The process for consulting with your Fannie Mae Sales Representatives and entering information into Equator does not change. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 16

Multiple Offer Process When more than one complete, eligible offer is received, you can initiate the Multiple Offer process. Complete the following steps to initiate the Multiple Offer process. 1. Submit any ineligible offer(s) into Equator, such as an investor offer received during First Look. 2. Equator will auto-reject the ineligible offer(s). 3. Click the Reject link for the ineligible offer(s) in the Online Offers system so that the remaining Active Offers can be placed in a Multiple Offer round. 4. Click on the Initiate Multiple Offer Process button below the Active Offers group. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 17

Multiple Offer Process, continued 5. Select the appropriate deadline. 6. The offers in the Multiple Offer round will now be grouped together. No further action can be taken by listing agents until the deadline has passed. The Responded column will identify selling agents who have responded. Selling agents can respond by clicking Keep (to keep the original offer), Revise (to change the offer terms) or Rescind (to withdraw the offer). 7. If another offer is received before the deadline, the selling agent will automatically be invited to participate in the Multiple Offer round. The system will send the selling agent an email notification with the same deadline that the other selling agents received. 8. When the deadline has passed, all offers in the Multiple Offer round will be listed under the Active Offers heading. 9. Check the time and date to verify that the selling agent responded. Record in Equator that the offer was received during a multiple offer round. If a selling agent did not respond, contact the selling agent to confirm that the lack of response was intentional. The selling agent can still submit the buyer s highest and best offer by revising the offer. If the selling agent is still not responsive, submit the original offer into Equator, but mark the offer as part of the Multiple Offer round and indicate in the Offer Comments that it is the original offer. If the selling agent rescinded their offer (withdrew), it will appear under Inactive Offers. This offer does not need to be entered into Equator. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 18

Counter Offer Process When your Fannie Mae Sales Representative counters an offer in Equator, go to the HomePath Online Offers system and initiate the Counter Offer process. (Instructions below). Enter responses in Equator and continue communicating those responses to the selling agent until the negotiations conclude. No other offers can be Accepted, Countered, or placed in a Multiple Offer round while negotiation is in progress. Complete the following steps to initiate the Counter Offer process, if you have been instructed by your sales representative to counter an offer. 1. Click the Counter link on the right side of the screen. You will be directed to a pop-up screen to aid in the countering process. The offer terms will be autopopulated. 2. Complete the fields (as needed) to reflect the terms of the counter offer (proposed by the sales representative.) Some of the fields are not editable by the listing agent, as they are not likely to change. 3. Click the Submit button. You will receive a notice that the counter offer may expire in 24 hours. The selling agent will receive an email notice that their offer will be countered. The email asks that they respond to the Counter within 24 hours and displays the terms that have changed. 4. The selling agent has the ability to accept the counter offer or submit another counter. If the selling agent accepts the counter, any other active offers will not be rejected for 48 hours in case the offer under negotiation falls through. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 19

Counter Offer Process, continued 5. The selling agent also has the ability to submit another counter. If the selling agent presents a counter, the listing agent will receive an email that displays the terms that have changed. 6. The Counter process can proceed forward as long as the sales representative dictates. When negotiations conclude, click the End Negotiation link to return the offer to Active status. 7. The last iteration of the offer presented by the selling agent will remain active as well as any additional active offers. At this juncture, the listing agent can start a Multiple Offer round. 8. The listing agent can only Accept or Reject the countered offer on the direction of the sales representative. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 20

Pre-Accept Offer Process If an offer or counter offer has been accepted by Fannie Mae as materially sufficient and the status in Equator changed to Pending, initiate a Pre-Accept Offer so the selling agent can correct or update the offer terms or documents. This should be done within one day of the status change to Pending in Equator. Complete the following steps to process a Pre-Accept Offer. 1. Click the Pre-Accept link on the right side of the screen. A pop-up screen will ask you if you are sure you wish to Pre-Accept. 2. Click the Yes button. The selling agent will be notified by email that changes need to be made to the offer and/or new documentation needs to be attached (if it is readily available). The Pre-Acceptance process should not be held up waiting for the final documents since those documents are stored elsewhere. 3. Once an offer is Pre-Accepted, all other Active offers will be sent a notice of rejection by email. 4. When the selling agent revises the offer with the final terms, the offer will show the Final logo. 5. Review the offer terms. Verify that these match the final agreement. If the terms are not correct, click the Pre-Accept link again to notify the selling agent that corrections still need to be made. Explain the corrections that are needed. Wait for the selling agent to revise the offer one more time to reflect the final negotiated terms. If the terms are correct, you can now click the Accept link. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 21

Accept Process Complete the following steps to accept an offer. 1. When the status of an offer in Equator indicates offer acceptance ( Pending in Equator), and no modifications are needed to the terms or documents in the Online Offers system, click the Accept link. A pop-up message will display asking if you are sure you wish to accept the offer. 2. Click the Yes button. All other active offers will be sent a notice of rejection by email. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 22

Fall Through Process If the accepted offer is terminated and the listing returns to active status, you must update the accepted offer in the Online Offers system by clicking the Fall Through link. This must be done before new offers can be received and addressed. Complete the following step to process an offer Fall Through. 1. Click the Fall Through link. A pop up window will display asking you if you re sure this offer has fallen through. 2. Click the Yes button. The offer will be marked Inactive. The Make an Offer button should reappear on the listing the next business day after the listing returns to Active status in Equator. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 23

Reject Process Complete the following step to process a Rejection. 1. When Equator indicates that the Fannie Mae Sales Representative has rejected an offer, click the Reject link for that offer in the Online Offers system. A pop up window will display asking if you are sure you want to reject the offer. Click the Yes button. 2. After an offer is rejected, it will be placed in the Inactive headings. Note: Refer to the REO Sales Guide for other situations that require rejecting an offer before the offer is submitted in Equator, such as incomplete offers or offers received after another offer has already been accepted by Fannie Mae as materially sufficient. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 24

Email Notifications Below are examples of email notifications that are sent from the HomePath Online Offers system. As a courtesy, you may need to contact the selling agent outside of these email notifications and provide more detail or explanation if not fully covered. Listing Agent Account Confirmation Sent when HomePath listings are assigned to an Agent on HomePath. Forgot Password, Changed Password Sent when a request is made for login assistance (forgotten password) and/or when a password is changed. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 25

Email Notifications, continued Offer to Purchase Sent when the selling agent submits an offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 26

Email Notifications, continued Multiple Offer Round Started Sent when the listing agent starts a Multiple Offer round or when a selling agent submits an offer when a Multiple Offer round is already underway. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 27

Email Notifications, continued Multiple Offer Round Ended Sent when the response deadline for the Multiple Offer round is reached. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 28

Email Notifications, continued Counter Offer Sent when the listing agent counters an existing offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 29

Email Notifications, continued Offer Revised Sent when the selling agent revises an offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 30

Email Notifications, continued Offer Rescinded Sent when the selling agent rescinds (withdraws) an offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 31

Email Notifications, continued Offer Pre-Accepted Sent when the listing agent pre-accepts an offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 32

Email Notifications, continued Buyer Submits with No Changes Sent when the buyer s listing agent clicks Submit with No Changes. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 33

Email Notifications, continued Offer Rejected Sent when the listing agent rejects an offer or accepts another offer. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 34

Frequently Asked Questions General Information How do I get trained on HomePath Online Offers? Several educational resources are available to assist you with use and navigation of the Online Offers system. Recorded webinars, training materials, and listing and selling agent guides are available by clicking the orange Help button. To reach these materials directly, visit http://www.homepath.com/offerquestion.html. Is the HomePath Online Offers system applicable to all HomePath properties listed through retail agents? Yes. 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. If the selling agent does not upload a buyer-signed local offer or contract form, Real Estate Purchase Addendum and Owner Occupant Certification (if applicable), will the offer be considered complete and presented to the seller? No. The selling agent is required to upload the required documents in order for the offer to be considered a complete offer. Otherwise, the offer will not be considered and is not submitted in Equator for seller response. Does the HomePath Online Offers system help with owner occupant verification? No. The listing agent will perform due diligence to verify that the prospective buyer is an owner occupant by following the existing processes. The selling agent must upload the Owner Occupant Certification form when submitting an offer for a buyer that intends to occupy the property as a primary residence. Does Fannie Mae have access to the Online Offers history on HomePath.com? Yes. Does HomePath enter offers into Equator automatically? No. The listing agent must submit the offers in Equator. Can the selling agent upload any additional documents or attachments with the required documents? Additional documents such as those that contain any personal information (Non-Public Information), such as that found on an earnest money check or proof of funds can be submitted as part of the final contract package but any Non-Public Information must be removed. Example, use a thick marker to cover any account numbers on the copy of the earnest money check or proof of funds. How can the selling agent comply with the request to upload the complete Real Estate Purchase Addendum with the online offer, when he or she does not know the acknowledgement date? In order to submit an offer, the Real Estate Purchase Addendum must be signed and complete except for the acknowledgement date. Upon reaching an agreement, new documents reflecting the final negotiated terms and the acknowledgement date will be prepared. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 35

Frequently Asked Questions, continued Preparing an Online Offers Listing How can I successfully use HomePath Online Offers to manage my listings? Take advantage of training resources (Webinars, FAQs, Online Offers Guides, etc.) provided by Fannie Mae. Check each Fannie Mae REO listing to verify the following: The listing agent email address is correct and consistent across each of the following sources (if applicable) ListHub, MLS, with your agency. The ZIP code is correct. The MLS Agent comments should specify that all offers must be submitted on HomePath.com. I am a new listing agent. When will I be notified of my Online Offers system login and password so that I can view my listings? When your first listing is listed on HomePath, you will receive an email containing your Online Offers login and password. My MLS does not allow a URL under agent remarks but does allow it to be included in confidential remarks. How do I handle that? Place the message that the seller requires online offers in the agent remarks and place the URL in the confidential remarks. You may also attach the Instructions for Submitting an Offer document found at http://www.homepath.com/offerquestion.html. Never violate your MLS rules when there is a conflict between Fannie Mae instructions and the MLS. Managing Offers Are listing agents able to accept offers from selling agents by fax or hand delivery, instead of through HomePath.com? No. All offers have to be submitted using the Fannie Mae Online Offers system through HomePath.com. 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 through the HomePath Online Offers system, the listing agent may contact their Fannie Mae Sales Representative to explain the situation. Additionally, you may refer the selling agent to the Online Offers User Support Center at 1-866-218-4446 for assistance. Any variance to the requirement that offers be submitted through the HomePath Online Offers system will require Fannie Mae written authorization. That authorization will only be given in extreme or unforeseen circumstances. Does the HomePath Online Offers system affect the way listing agents submit offers to Fannie Mae? No. The HomePath Online Offers system automates communication between the selling agent and the listing agent. There is no automated interface between HomePath Online Offers and Equator. The listing agent must submit the offers in Equator according to the instructions in the REO Sales Guide. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 36

Frequently Asked Questions, continued Are properties which have been moved to alternative disposition still available for online offers? No. What do I do when I can t find one of my Fannie Mae REO properties in the My Listings screen in the Online Offers system? Check the listing to ensure that the listing agent email address is correct. Verify that the property status is not Coming Soon or Under Contract. 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 and the listing agent email address is correct, report the problem to Fannie Mae by sending an email to homepath_online_offers@fanniemae.com. 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 work properly. What should I do if a selling agent sends me a paper offer instead of submitting an online offer in the HomePath Online Offers system? You cannot accept a paper offer unless given express permission from your Fannie Mae Sales Representative. Direct the selling agent to use the HomePath Online Offers system to submit the offer. If the selling agent has questions about how to submit an offer, provide the following address for the training page: http://www.homepath.com/offerquestion.html. You may also want to coach the selling agent through their first offer in the HomePath Online Offers system or refer them to the Online Offers system User Support Center at 1-866-218-4446. I updated information in 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), so it will not have an affect on HomePath listings until the following day. Changes to listings based on your actions in the Online Offers system will be visible immediately. I have an online offer from an investor, not using public funds, and the property is still in the First Look period. What should I do? You are required to submit all complete offers during the First Look period in Equator. An offer from an ineligible buyer will be rejected. During offer submission, the selling agent will have received a warning message that offers from investors not using public funds are not considered during the First Look period. If other offers are made on this property, creating a need for a Multiple Offer round, be sure to reject the Investor offer before triggering the Multiple Offer round. You must not invite ineligible buyers to participate in a Multiple Offer round. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 37

Frequently Asked Questions, continued Another offer came in when I have an accepted offer on a listing. The listing is still showing as Active on HomePath and Make an Offer button is still present. What should I do? It may take up to 24 hours after an offer is accepted in Equator for the property to be marked as Under Contract on HomePath.com and for the Make an Offer button to disappear. As a result, it is possible to receive a new offer on that property during that 24 hour period. Refer to the REO Sales Guide for instructions on handling this situation. Fannie Mae has countered an online offer. Which action should I take in the HomePath Online Offers system? If you have been instructed by your sales representative to counter an offer, log in to the HomePath Online Offers system, select the offer that was countered, and follow the steps under Counter Offer Process, page 19. How do I end negotiations with a countered offer? Click the End Negotiation link. The last remaining iteration of the offer that was presented by the selling agent will remain in your active queue. If other offers are present, you are able to start a multiple offer round with all active offers or reject any or all offers under the direction of your sales representative. What happens when the negotiating deadline is reached on a counter offer? Does the system prompt me to end negotiation? The counter negotiating deadline is only used to create a sense of urgency for the selling agent. The Online Offers system does not prompt the listing agent to end negotiations. An accepted offer fell through and I clicked Fall Through, but the Make an Offer button is still not visible on the listing. The Make an Offer button will not reappear until the next business day after the return of the listing to Active status in Equator. Be sure you have reported the Fall Through to your Sales Representative that you have updated the Online Offers system. Do I have the authority to accept or reject an offer in the Online Offers system without consulting my Fannie Mae Sales Representative? No. You may only click Accept when the offer has been accepted by Fannie Mae as materially sufficient, as evidenced by a change in the status in Equator. In Equator, it will be Pending. Offers submitted into the system must be rejected by Fannie Mae before you reject the offer in the Online Offers system. Exceptions are detailed in the REO Sales Guide. Who do I contact if I still have questions? Click on the orange Help button on any screen in the Online Offers system to access quick tutorials, additional guides and resources. For additional navigation or technical assistance, contact the Online Offers User Support Center at 1-866-218-4446, Mon. - Fri., 9 a.m. - 9 p.m. Eastern Time, or visit http://www.homepath.com/offerquestion.html. 2016 Fannie Mae. Trademarks of Fannie Mae HomePath Online Offers Guide for Listing Agents June 2016 38