My last Fannie Mae REO was for a property that was on the market 6 months and the offer was $100 over asking price, cash, close in 7 days.

Even if I am lucky to get mortgage loans to buy 6 more houses to reach a total of 10, Fannie Mae would not allow more loans beyond that.

While they can also give you bank and CMBS quotes, a correspondent mortgage banker is typically the only source that you can go to for access to loans from life insurance companies and the government agencies (Fannie Mae, Freddie Mac, and FHA).  

Thank you so much for your responses.The only restriction is that I give him 4 months' notice before paying off the contract (so he can figure out how to 1031 exchange the transaction, I think).

also the contract states that I must give 30 days notice and pay half the months rent..

You need to find small local banks that dont sell off their loans to fannie and freddie.

Joshua Dorkin,When I clicked on the directory of companies, I noticed only a handful on the page.

Welcome ,, If you’re looking to getting into wholesaling follow @Kevin Tunney threads Looking for local lender / buy & hold look over @Eric Michaels threadsBoth our from the Windy cityExperts indicate you need 20% for multi-family ,, but if you go through HUD / Fannie Mae / Homepath( smaller down payment for Owner Occupied - most likely)Maybe check for city owned properties Where you purchase low and build sweat equityFor example ( Owner Occupied )~~~~~~~~~~~~~~~~~~~~~~~~~~~~City of Milwaukee here offers low purchase price and rehab loans at extremely low rates Do not shell out any money until you at least visited your local REI club a few timesReason~~~~~~~~~~~~~~~~~~~~~~~~~~~that would help point you in the best real estate directions for your local market

According to Foreclosure Law, foreclosure proceedings in Maryland may begin when the home owner is 90 days past due on his mortgage 45 days after a notice of intent to foreclose is sent, whichever is later.If the mortgage contains a "power of sale" clause, the owner of the mortgage may immediately move to sell the house.

No one seems to notice any of these factors....