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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. It’s the ultimate in legalized fraud.

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UWM sues Mortgage Solutions and its owner over EPOs, trademark infringement

Housing Wire

United Wholesale Mortgage (UWM) has accused California-based brokerage and correspondent lender Mortgage Solutions FCS, dba Client Direct Mortgage, of breaching its early payoff (EPO) provision and its owner, Ramon Walker, of trademark infringement. UWM filed a lawsuit in a U.S. district court in Michigan on Wednesday. UWM is the largest U.S.

Mortgage 413
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CoStar Group finds success through the sale of Homes.com memberships

Housing Wire

During CoStar’s earnings call on Tuesday, Florance insisted that consumers and advertisers prefer a real estate portal with digital twins. “We The integration of Matterport to Homes.com will allow homebuyers to view properties online, helping agents to provide even more value to their clients. per share in cash and $2.75

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‘Don’t panic:’ KW executives address agent questions on NAR commission settlement

Housing Wire

Cooperative compensation The vast majority of questions addressed on the call dealt with whether or not buyer’s representation was going away, and how agents will get paid for the services they provide to clients. Cooperative compensation is still legal,” Papasan stressed.

Agents 441
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Reverse mortgage industry courts financial planners

Housing Wire

As reverse mortgage loan officers aim to expand their repertoire of advertising methodologies, the use of an advertorial can be powerful but also comes with some caveats that any reverse mortgage loan officer should keep in mind prior to engaging in such advertising campaigns. Number one, they actually have clients,” Giordano says.

Mortgage 410
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RentPath terminates acquisition agreement with CoStar

Housing Wire

Daniel Francis, deputy director of the FTC’s Bureau of Competition, defended the antitrust lawsuit, stating that CoStar and RentPath’s rivalry kept advertising rates on their platform low for customers. apartment buildings with 100 to 199 units, advertise on internet listing services operated by either CoStar, or RentPath, or both.

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MLSs, local associations help members navigate changes tied to NAR settlement

Housing Wire

Similar to the membership challenges Realtor associations may face as a result of NAR’s settlement agreement, some in the industry have posited that if agents can no longer list offers of cooperative compensation on the MLS, they may choose to bypass the platform altogether and advertise their listings elsewhere.

Realtors 431