TEC Real Estate
Did you receive the FNMA Multiple Offer Notification and Acknowledgement Form. If you did then you may have been outbid. You can have your agent submit another offer, but FNMA may have accepted another offer and sent out the Bank Addendum for signatures. If this is the case then your offer will be a backup offer. I would have the Selling Agent call the Listing Agent and ask if a Purchase Contract is in the process of being ratified, or not.
Best of Luck.
You can submit offers as many times as you want in a typical situation where the FNMA property is listed. I'm curious what the situation was that you "lost bid" at full asking price. There must have been other purchase and sale agreements presented or, I wonder if you made a "bid" at an auction site since you used the word "bid".
if you want to contact me directly and explain the situation in more detail, i can make some next step suggestions for you.