Remove Contracts Remove Legal Remove Loan Officers Remove Realtors
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Loan officers are dramatically cutting their pay to win clients. It’s often illegal. 

Housing Wire

Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loan officers in North Carolina. After Mike paid his loan officer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.

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How the buyer commission lawsuits could upend the relationship between agents and LOs

Housing Wire

Attorneys, Realtors and clients are a big part of our repeat business.” The buyers want the listing brokers to pay their buyer representative so they can have the most money invested in their down payment and get the best loan terms and rates possible,” Katie Johnson , NAR’s chief legal officer, said.

Buyers 380
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‘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. But its members noticed “many real estate agents are already writing sales contracts that require the buyer to pay the buyer’s real estate commission.”

Buyers 498
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12 Questions to Ask Your Real Estate Agent

PennyMac

Many of them have had great training and even specialized experience working for seasoned Realtors®. Find an agent who really understands the different contracts you need and how to properly fill them out, the legal obligations you’ll run into, and the financial side of the business. Marketing plans and strategies are key.

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10 essential skills real estate agents should possess

Housing Wire

And when it’s time to wade through complicated contract language or explain the benefits or drawbacks of a property, agents who communicate better have a leg up on their competition. Some old-school realtors need help to adapt to marketing methods beyond paper advertising or direct mail. Talent for negotiation Negotiation isn’t easy.

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The REO Guide: 10 Steps to Buying a Bank-Owned Home

PennyMac

The lender initiates legal proceedings against the borrower to foreclose on the property. Multiple Listing Service: Lenders and Realtors® often use the Multiple Listing Service to list REO properties, making it easy to find options from multiple lenders in one place. Foreclosure.

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10 Simple Steps to Purchase a Home in 2020

PennyMac

The help and guidance provided by a real estate agent or REALTOR ® can be priceless, particularly for first-time homebuyers or those searching in an unfamiliar area. Is Homeowners Insurance Legally Required? Once you’ve mutually agreed upon a price, you and the seller will be under contract, also known as being in escrow.