Great news for our Industry! This madness may finally be coming to an end "no matter what, they’re not compliant"
Wells exiting MSAs; 'I think it's the beginning of the end for MSAs'
Industry News: Thursday, July 30, 2015
Exclusive
Wells Fargo and many other mortgage lenders and title insurance providers announced that they will exit all their marketing services agreements (MSA) with real estate professionals and builders, beginning Aug. 1, over a period of 90 days. The lender cited uncertainty surrounding regulatory oversight of MSAs as a prime reason behind the decision. Industry reaction seemed to support that thought. “All the enforcement has shown, no matter what, they’re not compliant. I think it’s the beginning of the end for MSAs,” one said. Read on for all the details, and stay tuned to The Title Report for more expected announcements on this subject, as well as new expected guidance on TRID compliance and more.
Keith Stonehouse
Vice President, Franklin Title Agency
http://www.franklintitleagency.com
Founder, Michigan Real Estate Masterminds
http://www.michiganrealtormasterminds.com
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Office: 248-564-4022
Fax: 248-564-4024
Cell / Text: 248-894-4785 24/7
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