Although some large lender – including Wells Fargo – have quietly killed their MSAs with Realtors, others quietly forge on, keeping a close eye on the PHH case…
One observer who follows the program had this to say: “It’s nice of them [FHA] to give money away in an election year. It’s not like they need the volume.”
Existing home sales increased by 14.7 percent in December compared with the previous month, according to data from the National Association of Realtors, suggesting that issues involving the Consumer Financial Protection Bureau’s disclosure rule were temporary. NAR said 5.46 million sales of existing homes were completed in December, on a seasonally adjusted basis, up from 4.76 million the previous month, marking the largest monthly increase ever recorded by the group, on a percentage basis. Existing home sales in November were down by 10.5 percent from the previous month as lenders grappled with the new TRID disclosure rule. “While the carryover of November’s delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates...
Asked why these employees would join his company, the executive said the current owners of his target have become less competitive on pricing and trimmed compensation for loan officers.
In an interview with IMFnews, NAIHP president Marc Savitt said the new forms are confusing and "the three-day waiting period is useless and unnecessary.”
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