Carl Horst Chief Executive Officer at Cincinnati Area Board of REALTORS | LinkedIn
Carl Horst Chief Executive Officer at Cincinnati Area Board of REALTORS | LinkedIn
Fannie Mae and Freddie Mac have confirmed that buyers whose agents are compensated by the seller will still have access to financing through these institutions. This assurance comes as long as it remains "customary" for sellers to pay commissions, which will not be included in the interest party contributions (IPC) or subject to IPC caps.
The interpretation of this rule under a proposed settlement had raised concerns. The National Association of Realtors (NAR) sought clarification from Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA). In response, FHA confirmed NAR's interpretation.
NAR has committed to advocating for affordable financing options and will provide updates on any developments.
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