HomeSteps
HomeSteps is Freddie Mac's REO sales unit, marketing and selling foreclosed single-family homes nationwide through a property search platform, MLS distribution, real estate agents, and online auctions. It serves homebuyers, brokers, non-profits, and investors with First Look priority access.
- Company typePublic
- Founded1970
- HeadquartersPlano, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What HomeSteps does
HomeSteps is the real estate sales unit of Freddie Mac (Federal Home Loan Mortgage Corporation), a federally chartered government-sponsored enterprise. The unit's core function is the marketing and disposition of Freddie Mac's REO (real estate owned) inventory — foreclosed single-family homes, condominiums, townhomes, and duplexes acquired through default on Freddie Mac-secured mortgages. HomeSteps manages the full REO lifecycle: securing properties after foreclosure, resolving title issues, coordinating preservation and maintenance through third-party suppliers under its Good Neighbor Practices, and facilitating sale through local listing agents, MLS distribution, and direct-to-buyer channels.
The platform is built around the HomeSteps.com property search website, which allows buyers to filter by address, city, state, or ZIP and to register saved-search accounts with weekly email notifications. Proprietary programs anchor the offer: the First Look Initiative grants owner-occupants and eligible non-profits a 30-day exclusive purchase window before investors can bid, enforced through MLS listing metadata. Distribution blends a nationwide real estate broker/agent network with online auction integrations on Auction.com and RealtyBid.com, while supplier relationships (general contractors, preservation vendors, closing/title agents, eviction attorneys) are administered through a dedicated Supplier Portal and a third-party vendor management relationship with Radian.
Commercially, HomeSteps operates as a transaction-based REO disposition channel within Freddie Mac's broader Single-Family Division. Revenue is generated as a function of properties sold, with no standalone financial disclosure. Programs such as DPA One (down payment assistance matching), CHOICERenovation, and GreenCHOICE Mortgages connect REO buyers to financing vehicles from the same parent organization, positioning HomeSteps as a closed-loop funnel from default to resale to new origination.
HomeSteps firmographics
Firmographics- Name
- HomeSteps
- Legal name
- Federal Home Loan Mortgage Corporation
- Website
- https://homesteps.com
- Company type
- Public
- Founded year
- 1970
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- HomeSteps is Freddie Mac's REO sales unit, marketing and selling foreclosed single-family homes nationwide through a property search platform, MLS distribution, real estate agents, and online auctions. It serves homebuyers, brokers, non-profits, and investors with First Look priority access.
- Ownership category
- akta.pro rank
HomeSteps industry classification
Industry- Product category
- REO Real Estate Sales
- NAICS
- Services to Buildings and Dwellings (5617)
- SIC
- Services-To Dwellings & Other Buildings (7340)
- akta.pro primary industry
- Foreclosure/REO & Distressed Property Brokerage (BPAJAAAI)
Keywords
Where HomeSteps is headquartered
LocationHeadquarters
- HQ city
- Plano
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
HomeSteps business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- REO Property Sales: HomeSteps generates revenue through the sale of Freddie Mac real estate owned (REO) homes. As the Freddie Mac sales unit, it markets and sells foreclosed properties, managing the entire REO disposition process.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Transaction-based home sales |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
HomeSteps product offering
Product offeringCore offering
HomeSteps is the Freddie Mac real estate sales unit that markets and sells Freddie Mac's nationwide inventory of foreclosed (REO) homes. Through the HomeSteps.com online platform, the company enables homebuyers to search and purchase REO properties, supported by MLS syndication, online auctions via Auction.com and RealtyBid.com, and a network of real estate brokers and agents. HomeSteps manages the entire REO disposition process, from post-foreclosure title work through closing, and runs exclusive programs such as the First Look Initiative that gives owner-occupants and eligible non-profits priority access during the first 30 days of listing.
Product overview
HomeSteps® is the Freddie Mac real estate sales unit responsible for marketing and selling Freddie Mac REO (real estate owned) homes. The core offering is the HomeSteps® platform — a property search website where homebuyers can search for foreclosed homes nationwide. The platform integrates with online auction services (Auction.com, RealtyBid.com) for property sales. Key programs include the Freddie Mac First Look Initiative giving owner-occupants priority access during the first 30 days of listing. The product suite connects to Freddie Mac mortgage products (CHOICERenovation, CHOICEReno eXPress, GreenCHOICE Mortgages) and educational tools (CreditSmart, My Home by Freddie Mac). For real estate professionals and suppliers, HomeSteps offers a Supplier Portal for registration and access to resources, along with DPA One® for matching buyers with down payment assistance programs. HomeSteps is one of the largest sellers of existing homes in the United States.
Differentiator
Problem solved
Functional benefit
Products and services
- HomeSteps® Platform
Quantifiable outcome
- Complete offers responded to or countered within 48 hours
- +1 more outcomes
Companies that use HomeSteps
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles3 records
HomeSteps technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature3 records
HomeSteps partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core, minor and flagship.
- Auction.comcoreOnline auction partner for HomeSteps REO property sales. HomeSteps uses Auction.com for online auctions of foreclosed properties. Buyers must register in advance with Auction.com to participate in auctions.
- RealtyBid.comcoreOnline auction partner for HomeSteps REO property sales. HomeSteps uses RealtyBid.com for online auctions of foreclosed properties. Buyers must register in advance with RealtyBid.com to participate in auctions.
- Radian Vendor ManagementminorRadian handles vendor management for HomeSteps supplier network. Suppliers needing HS ID contact Radian Vendor Management team for access to Supplier Community.
- Freddie MacflagshipHomeSteps is the Freddie Mac sales unit responsible for marketing and selling Freddie Mac REO homes. HomeSteps operates as part of Freddie Mac's Single-Family Division.
Scale indicators1 record
Recent moves6 records
Expansion highlights3 records
HomeSteps competitors and assessment
Company assessmentEmerging players
- Equator: REO and short-sale platform used by servicers and asset managers to list and manage distressed properties. Overlaps with HomeSteps in the broker-facing, default-services workflow.
- Opendoor: iBuyer offering instant cash offers and direct home purchases. Adjacent rather than directly competing, but increasingly competes for the same owner-occupant buyer considering REO versus instant-offer alternatives.
- RES.NET: Default-services and REO asset management platform for servicers and investors. Comparable to the supplier/preservation/eviction management layer that HomeSteps coordinates through its supplier portal.
Direct peers
- Xome: End-to-end REO and foreclosure platform offering listing, auction, and title services. Competes with HomeSteps for distressed seller mandates and buyer attention across the same REO transaction lifecycle.
- Hubzu: Online auction marketplace specializing in foreclosure and bank-owned properties. Directly comparable to HomeSteps' auction-distribution leg, with overlapping buyer bases and seller feeds.
- Auction.com: Online foreclosure and distressed-property auction marketplace. Both a HomeSteps channel partner and a competing marketplace for REO inventory from banks, GSEs, and servicers.
- Fannie Mae HomePath: Fannie Mae's parallel REO sales platform for its foreclosure inventory. HomePath is the closest functional analog to HomeSteps, mirroring the GSE-backed REO disposition model, First Look-style owner-occupant priority programs, and nationwide MLS-driven distribution.
- REDC (Real Estate Disposition Corp.): Asset manager that historically managed Fannie Mae's REO disposition. Operates an REO listing and disposition platform with broker networks, directly comparable to HomeSteps' end-to-end REO management function.
- RealtyBid.com: Online real estate auction platform used by HomeSteps for REO sales. Operates in the same niche and competes for the same auction-buyer demographic.
Broad incumbents
- Zillow Foreclosure Center: Major consumer real estate marketplace with a dedicated foreclosure listing vertical. Competes for buyer attention in the same distressed-property search workflow, but as part of a much broader listing portfolio.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
HomeSteps social profiles
Digital presenceHomeSteps financial estimates
Financial estimateRevenue estimate
Valuation estimate
HomeSteps leadership team
Management profileNumber of profiles
HomeSteps funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
HomeSteps M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about HomeSteps
What does HomeSteps do?
HomeSteps is the Freddie Mac real estate sales unit that markets and sells Freddie Mac's nationwide inventory of foreclosed (REO) homes. Through the HomeSteps.com online platform, the company enables homebuyers to search and purchase REO properties, supported by MLS syndication, online auctions via Auction.com and RealtyBid.com, and a network of real estate brokers and agents. HomeSteps manages the entire REO disposition process, from post-foreclosure title work through closing, and runs exclusive programs such as the First Look Initiative that gives owner-occupants and eligible non-profits priority access during the first 30 days of listing.
Is HomeSteps a public or private company?
HomeSteps is a public company. It is classified as corporate owned and is currently operating.
When was HomeSteps founded?
HomeSteps was founded in 1970. It employs 1 to 10 people.
Where is HomeSteps based?
HomeSteps is headquartered in Plano, United States, in the North America region.
How does HomeSteps make money?
One revenue line is on record: REO Property Sales.
Who are HomeSteps's main competitors?
Emerging players on record are Equator, Opendoor and RES.NET. Direct peers are Xome, Hubzu, Auction.com, Fannie Mae HomePath, REDC (Real Estate Disposition Corp.) and RealtyBid.com. Zillow Foreclosure Center is listed as a broad incumbent.
Does HomeSteps have an API?
No public API is recorded for HomeSteps.
What industry is HomeSteps in?
HomeSteps's product category is REO Real Estate Sales. Its primary akta.pro industry code is BPAJAAAI, Foreclosure/REO & Distressed Property Brokerage. Its NAICS code is 5617 and its SIC code is 7340.