Cyprexx Rumored To Have Lost Fannie Mae

Passing along verbatim, raw intelligence as it might be Mission Critical for some folks. Usually, I take most of the information and drill down on it to give a polished set of Talking Points; however, my Fannie Mae Source is out of circulation for a bit. I assign an 93% Probability Rating to the below,

I am a small contractor in upstate NY and have been working with Cyprexx for about a year mostly on their REO side. Yesterday a received about 30 emails (one for each property) saying that the property listed had “Closed” and not to perform any more work there and submit any remaining invoices I had. I was a little surprised that 3/4 of the properties I had with Cyprexx all suddenly sold. I called my coordinator at Cyprexx and was informed that they had lost the FNMA contract and no-longer were servicing those properties. I asked if [Redacted] knew who would be servicing them and [Redacted] did not have that information. Most of the properties were listed with a local realtor so I called him and asked if he knew and he said Safeguard. Guess I’ve lost those houses for good.

Thanks for all the good information and newsletters.