NAR and MBA Urge GSEs and Regulators to Confirm Support for Buyer Financing

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By Ken Fears

This article originally appeared in the March 27, 2024 NAR Washington Report here.

The National Association of REALTORS® (NAR) along with the Mortgage Bankers Association (MBA) sent a letter to the Federal Housing Finance Agency, Federal Housing Authority, Fannie Mae, and Freddie Mac seeking confirmation that homebuyers will continue to have access to mortgage credit after the proposed settlement in the Burnett et al and Moehrl et al cases is complete. Specifically, NAR and MBA asked the regulators and GSEs to confirm that the custom of excluding seller’s payment of commissions for buyer’s agents will continue to be excluded from the limits on Interested Party Contributions. This confirmation is a critical piece of the post-settlement puzzle.

This letter continues NAR’s efforts to engage the GSEs and regulators to provide near-term clarity to the market and members. This effort is one of several focused on supporting mortgage finance for buyers in the post-settlement environment.

Download the Coalition Letter to GSEs and Regulatory Agencies

 

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