Given confusion around the commission structure for home sales, it’s important for loan officers to advise real estate agents and become a source of knowledge for homebuyers, according to Jonathon Haddad, CEO of the Association of Independent Mortgage Experts.
A new requirement to extend language access for home borrowers within the CFPB's proposal to update Regulation X's mortgage servicing requirements will actually do the opposite, according to a joint comment letter submitted on the proposal.
The Consumer Federation of America said buyers using FHA loans often face stigma when buying a home and cannot use many competitive strategies that are common to conventional and cash buyers.