The paper includes best practices – sample procedures and communications gathered from franchises, brokers, title companies and others. It also includes a sample company policy Clareity Consulting has created based on both these best practices and on our experience advising brokerages and other companies regarding information security. Not all aspects of this paper will apply to all companies involved in the transaction, and what is relevant will still need to be tailored to an individual company’s business processes. Still, it provides a valuable starting place toward reducing the risk of wire fraud.
Balance Needed between Regulation and Opportunity in Housing Market, Say Economists, Policy Experts
The nation’s leading housing economists spoke today at an economic and policy forum to appraise the state of the U.S. housing market. Read more...
Fannie Mae Announces Assistance Program
On April 14, 2015, Fannie Mae announced a new program that offers 3% in closing costs assistance for first time homebuyers that purchase Fannie Mae REO properties. To qualify, borrowers must complete Fannie Mae's online homebuyer education program, must be owner occupants, and have not owned a home in the past three years.
Agents must request the funds in the purchase contract, and once the purchase is complete, Fannie will also reimburse the $75 charged to take the course. Agents can find more information and contract language on Fannie Mae's HomePath website.
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