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fees: $50,000+ For A Lender to REO a Property? - 10/11/09 09:10 PM
This report released in May of 2008 by the Mortgage Broker's Association says that it costs about $50,000 for a Lender to REO a property and as much as 30-60% of the loan value. It makes you wonder why they don't put more effort in working toward approving Short Sales... Read more to find out: Mortgage Banker Foreclosure Update View more documents from Matthew Rathbun. … (2 comments)

fees: Are “Admin Fees” Legal? - 05/16/09 10:47 AM
Someone forwarded this article to me, from the Washington Post today. Tina Merritt also wrote about this at www.VARBuzz.com.  I found it very enlightening…
Challenging Brokers' Add-On Fees

By Kenneth R. Harney
Friday, May 8, 2009
A federal district court has handed down a ruling in a class-action lawsuit that could directly affect the fees you pay to the real estate brokerage company at closing, whether as a buyer or seller.
The decision targets one of the most common practices adopted by brokerage firms in recent years: charging consumers "admin," "processing," "ABC" and other mystery fees ranging from $150 … (0 comments)

fees: NAR Releases Legal Opinion on “Admin Fees” - 05/16/09 10:42 AM
Laurie Janik, NAR General Counsel (and amazing attorney) has released a memo regarding the recent court opinion against “Admin Fees”.
Price Increase or Unearned Fee? How to Protect Your Bottom Line
Laurie Janik, NAR General Counsel
April 29, 2009
A federal district court recently ruled in Busby v. JRHBW Realty, Inc. d/b/a RealtySouth that an administrative brokerage fee (“ABC Fee”) of $149.00 paid by a home buyer to the brokerage firm that represented her was not sufficiently related to any specific settlement service performed for her benefit, resulting in a violation of Section 8(b) of the Real Estate Settlement … (0 comments)

 
Mattheadjacket

Matthew Rathbun ABR/M, SRS, e-PRO, SFR, GRI, SRES, Brkr

Ladysmith, VA

More about me…

Coldwell Banker Elite

Address: Fredericksburg, VA, 22401

Office Phone: (540) 455-3350

Cell Phone: (540) 455-3350

Email Me

Matthew Rathbun is a Virginia Licensed Broker and Director of Professional Development for Coldwell Banker Elite and former Director of Educationf or the Fredericksburg Area Association of REALTORS®. He has opened and managed real estate firms, as well as coached and mentored agents. As a Residential REALTOR®, Matthew was a reoccurring Top Producer and past REALTOR® Rookie of the Year.


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