Remove Clients Remove Definition Remove Loan Officers Remove Sellers
article thumbnail

Opinion: Sitzer/Burnett decision presents an uncertain future for buyer agents

Housing Wire

Under current guidelines, sellers pay a 5-6% commission on a sale which is split between the buyer and listing agents. Sellers would continue to see the value in buyer agents — bringing more potential agents to the table and making properties more competitive — while also compensating buyer agents accordingly. Enter the savvy seller.

Agents 383
article thumbnail

Desperate for deals, mortgage pros get creative

Housing Wire

Roberts and thousands of other loan officers across the country continue to be hampered by a serious inventory shortage , which results in heavy competition for fewer deals. There’s just more buyers than there are sellers,” added Steven Grossman, chief strategic officer at NJ Lenders.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mortgage lenders facing a dark, cold winter

Housing Wire

Jeff Walton, CEO and co-founder of mortgage data analytics company InGenius, which provides loan-officer data to IMBs for recruiting purposes, said it’s going to be a “tough time through winter.” These are the folks who are buying right now, and I you know because some of them are my clients.”

Mortgage 428
article thumbnail

‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Loan officers and mortgage executives expect home sellers and homebuyers to negotiate more aggressively on commission paid to buyer agents, potentially bringing costs down. That’s a problem because mortgage LOs traditionally have not “forged as deep of inroads” with sellers’ agents.

Buyers 495
article thumbnail

Buy now, pay later: How do mortgage pros deal with ‘phantom debt’?

Housing Wire

Racamato is now orienting his team to look closely at clients’ bank statements to find multiple — and often interest-free — installments of a few hundred or thousand dollars paid to the same company on a biweekly or monthly basis. He wants to know whether the potential borrower has acquired a buy now, pay later (BNPL) loan.

Mortgage 350
article thumbnail

How 2020 exposed a greater need for collaboration between real estate agents and LOs

Housing Wire

Successful agents, brokerages and loan officers of the future are going to rely significantly on technology to find, nurture and engage with buyers and sellers while also playing an expanding role as personal advisors in all things related to mortgage, insurance, moving, renovating and new home transitioning.

article thumbnail

The 7% mortgage is back with a vengeance

Housing Wire

Applications have definitely slowed down in the last few weeks. I feel like we have some people sitting on the fence again,” said one loan officer in the Portland, Oregon market. “I The LO in the Portland, Oregon area said she’s trying to get creative to help clients, pursuing 3/2/1 and 2/1 mortgage rate buydowns.

Mortgage 427