No Negotiation of Preforeclosure Sales Commission Servicing Guide,Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what wasnegotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the salesprice of the property in aggregate. Servicers are reminded that they must continue to obtainany approvals that may be required by interested third parties in connection with preforeclosuresales.
This entry hasn't been re-blogged:
Re-Blogged By Re-Blogged At
- Topic: ActiveRain Community
Find what you need?
See More Blog PostsAbout Real Estate! SEE MORE NOW!