Call: (561) 880-1204 Login

VA to issue temporary measures addressing Realtor commission

May 23, 2024 (0) comment , , , , , , ,

Spread the love

National Mortgage News posted an article a few days ago in regard to the upcoming changes to in Real Estate regarding Agent Commissions.

The U.S. Department of Veterans Affairs will temporarily loosen policy restrictions regarding commission payments that put buyers using its loans at a competitive disadvantage. Under current regulations, commissions are prohibited for VA loan originations, which given the shift, could lower the value of those offers in the eyes of realtors and agents.

In an announcement made Tuesday during a panel at the Mortgage Bankers Association’s Secondary and Capital Markets Conference in New York City, the department said it would soon release a circular aimed at temporarily removing the restrictive language until a new policy can be enacted.

It is no doubt that the VA wants to protect veterans as much as possible and wants them to exercise their right in the marketplace to purchase a home.

Between now and June 12th, the VA will issue a circular to give it “a temporary bridge” to remove that language. Then they will begin to update their guidelines. We will keep you all posted once this takes place.

Read full article here.

VA to issue temporary measures addressing Realtor commissions | National Mortgage News

Presenting Customized Mortgage Solutions with Competitive Rates. I have been in the mortgage industry for over 17 years. Through my career I have perfected all aspects of the process including but not limited to processing, underwriting, and closing of residential loans. I am a performance-driven person. My team and I pride ourselves on transparency and communication throughout the process to all parties involved. We close on time and create raving fans one loan at a time through consistent A Class Customer Service and stress free experiences. Let me create a raving fan of you. Call me today and work with a true professional and my team of professionals dedicated on making the home buying experience an exciting and pleasurable one for everyone.

All posts by Mark Mathon

Comment (0)

Leave a Comments

Recent Comments