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Patton Gade, top LO for VA loans, heads to UMortgage

Housing Wire

Patton Gade, the top producing loan officer for VA home loans in the U.S. last year, has joined brokerage firm UMortgage , the company announced on Tuesday. Military Academy at West Point, will continue to originate loans and hold the national director of military lending position at UMortgage.

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VA to roll out temporary fix to buyer agent commission problem

Housing Wire

VA policy states that while a veteran is allowed to use a buyer broker to purchase a home using their VA loan benefit, they “may not under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals.”

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How will first-time buyers fare if sellers can’t offer buyer agent compensation?

Housing Wire

But for first-time and other cash-strapped buyers—those who are not relying on the proceeds of a home sale, who may be using a 100% financed VA loan, whose agents may be layering forms of assistance to put together enough cash for closing—knowing in advance about the seller’s contribution to their agent costs may be essential.

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VA issues temporary fix to allow buyer-paid broker fees

Housing Wire

Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that will allow homebuyers using VA loans to pay for their real estate agent’s commission — i.e., the buyer-broker fee. ” The VA also clarified that veterans can still ask sellers to cover these fees. ” The circular is effective Aug.

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Could the NAR settlement be a blessing in disguise for VA buyers?

Housing Wire

31, 2023, and has since reshaped the business practices for real estate brokerages and agents across the country. Department of Veterans Affairs (VA) would be disadvantaged. But much to the industry’s relief, the VA announced in May that it would be issuing temporary guidance.

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Here’s how wholesale lenders and brokers are navigating near-8% mortgage rates

Housing Wire

Meanwhile, in addition to diversifying their portfolios, brokerage firm owners are keeping their cost structure under control to be profitable in a shrinking market. The lender, based in South Dakota, offers conventional, FHA and VA loan products, as well as bridge loans.

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A San Diego data dive shows a market upended by tight supply

Housing Wire

With fewer listings to go around, low-producing brokerages were forced out. San Diego produced about 42% fewer conforming mortgage loans (loans that meet federal purchase qualifications ) and about 31% fewer jumbo (nonconforming) loans for home purchases in 2023 than in 2019. The number of listings in San Diego fell 50.5%

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