article thumbnail

Reverse purchase financing: The financing option no one is talking about

Housing Wire

That’s where reverse purchase financing comes into play, the funding option specifically designed for older Americans. What is reverse purchase financing? We in the industry are very hopeful that this will be an eye-opener, especially for real estate agents and builders to start recommending this product to clients more regularly.”

Finance 419
article thumbnail

‘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. You should be finding buyers before real estate agents anyway.”

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Agent commission lawsuits cast long shadow over VA, FHA borrowers

Housing Wire

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. In both instances, FHA and VA borrowers might see their up-front home-buying expenses increase if they have to shoulder agent’s commissions. “It Potter added: “Government lending would come to a halt.

VA loan 438
article thumbnail

VA should expedite regulatory changes for agent commissions: CHLA

Housing Wire

NAR’s settlement, which could go into effect as early as July, will eliminate the long-standing “Participation Rule” that requires listing agents to make an offer of cooperative compensation to buyers’ agents. Under the current system, the buyer agent’s commission is baked into the price paid for a home.

Agents 426
article thumbnail

Homebot home education portal acquires mobile app firm Quo Finance 

Housing Wire

Homebot , a home education portal that keeps people connected to their loan officers and real estate agents, acquired Quo Finance , a mobile app for first-time homebuyers. million in seed funding, led by SignalFire in December 2021 to develop the mobile app. Quo raised $7.2

Finance 303
article thumbnail

10 ways for real estate agents to stay compliant with fair housing laws

Housing Wire

When it was passed in 1968, the Fair Housing Act made it illegal to discriminate in rental housing, real estate sales, and financing based on race, color, national origin, religion, sex, familial status, or disability. Department of Housing and Urban Development and can result in fines and other penalties. What is the Fair Housing Act?

Agents 417
article thumbnail

Donna Gland, head of talent development and resources at NAR, to retire

Housing Wire

Gland, who has been with the trade group for 38 years, most recently served as NAR’s head of talent development and resources. Longtime National Association of Realtors’ (NAR) staff member Donna Gland has announced her retirement, according to an email sent by CEO Bob Goldberg to NAR members and obtained by HousingWire.