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The ‘double-edged sword’ of dual licensing

Housing Wire

The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loan officers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%

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Cadence Bank reaches settlement with DOJ over redlining

Housing Wire

million to create a loan subsidy fund for residents of predominantly Black and Hispanic neighborhoods in the Houston area, $750,000 for development of community partnerships to provide services that increase access to residential mortgage credit in those neighborhoods. Specifically, Cadence will provide $4.17

Lending 382
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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Caccia said that 80% of his business comes from buyers’ agents.

Buyers 498
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As the market shifts to purchase, LOs get creative

Housing Wire

Apart from selling produce that is popular in former Soviet countries, these stores represent a marketing opportunity for Alex Naumovych, a loan officer at Draper and Kramer Mortgage Corporation. A sales manager, who requested anonymity, said that he helps newbie LOs by reviewing their strategies to pull in business at open houses.

Marketing 385
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Black Americans still face massive housing barriers

Housing Wire

” Earlier this month, groups including the Department of Housing and Urban Development (HUD), the Mortgage Bankers Association, the National Association of Realtors, the National Association of Real Estate Brokers unveiled a plan to increase Black homeownership significantly by 2030.