Fannie, Freddie and FHA say sellers can continue to pay the buyer’s agent’s commission. But it remains to be seen if buyers will be allowed to finance their agent’s commission into their mortgage.
Category: Regulations
NAR settlement may disrupt mortgage partner agent programs
If homebuyers are no longer willing to pay full commissions, what happens to lender programs that incentivize consumers to work with partner real estate agents?
Strength in home prices helped boost Fannie, Freddie 2023 profits
With a combined net worth of $125 billion after earnings this week, the mortgage giants remain on a path that could lead to eventual release from government conservatorship if political winds shift.
New credit scores from FICO, VantageScore gaining traction
Lenders won’t be required to use the more inclusive FICO Score 10T and VantageScore 4.0 scoring models before next year, but several are already using them to expand the pool of borrowers.
Flagstar mortgages could help NYCB shore up its balance sheet
Troubled New York Community Bancorp is reportedly ready to pledge about $5 billion in home loans originated by Flagstar Bank as collateral for risk transfer that would bolster its capital.
Patriot Bank denies DoJ redlining allegations, settles for $1.9M
Government alleges competitors in Patriot’s peer group made home loans in minority areas of Memphis at almost three times the rate of Patriot from 2015 to at least 2020.
David Stevens, influential leader in mortgage finance, dies at 66
The former FHA commissioner also held executive positions at World Savings Bank, Freddie Mac, and The Long and Foster Companies before leading the Mortgage Bankers Association.
Navy Federal faces lawsuits over discriminatory lending allegations
Lawmakers are demanding a federal investigation in the wake of a CNN analysis that concluded the nation’s largest credit union denied more than 50 percent of Black mortgage applicants in 2022.
The real estate agent’s ultimate guide to fair housing
Real estate agents play a vital role in creating a fair and inclusive housing market, writes Julia Lashay Israel. By understanding and adhering to fair housing laws, agents contribute to eliminating discrimination and promoting equal opportunities for all individuals.
First American settles ‘no-poach’ allegations with New York AG
The $4.5 million agreement follows similar settlements with “big four” title insurance underwriters Fidelity National Financial, Old Republic National Title Insurance and Stewart Title Guaranty.