WASHINGTON (June 11, 2024) – National Association of Realtors® President Kevin Sears issued the following statement in response to the Department of Veterans Affairs (VA) announcement of a “Buyer-Broker Agent Temporary Local Variance Circular”: “The VA’s home loan guaranty is the only program that explicitly bans buyers from directly paying for professional real estate representation. We applaud the VA for revising this policy and allowing veterans …

The Department of Veterans Affairs plans to temporarily lift its ban on buyers directly paying for professional real estate representation until the agency deems it necessary to engage in a formal rulemaking process, a VA official said Tuesday, May 21, 2024, at a Mortgage Bankers Association conference in New York. Although not an official announcement, the comments from VA Deputy …

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 …

By Jeremy Green This article originally appeared in the March 27, 2024 NAR Washington Report here. The National Association of REALTORS® (NAR) submitted a letter to the Department of Veterans Affairs (VA), urging them to revise its policies pertaining to fees veterans cannot pay when using their VA home loan benefit. Under VA policies, veterans using the home loan benefit are prohibited …