http://www.therealestatebloggers.com/2009/02/02/national-association-of-realtors-asks-for-legislation-blocking-banks-from-owning-brokerages/ Real Estate Blog, Mortgage, and Development News Sun, 21 Mar 2010 17:00:51 +0000 http://wordpress.org/?v=2.9.1 hourly 1 http://www.therealestatebloggers.com/2009/02/02/national-association-of-realtors-asks-for-legislation-blocking-banks-from-owning-brokerages/comment-page-1/#comment-338221 Tony Sena Tue, 03 Feb 2009 18:53:24 +0000 http://www.therealestatebloggers.com/2009/02/02/national-association-of-realtors-asks-for-legislation-blocking-banks-from-owning-brokerages/#comment-338221 How can the Government really make a decision on this when they have ownership interest of the banks they bailed out? The Government cannot make an unbiased decision on this very important topic! How can the Government really make a decision on this when they have ownership interest of the banks they bailed out? The Government cannot make an unbiased decision on this very important topic!

]]> http://www.therealestatebloggers.com/2009/02/02/national-association-of-realtors-asks-for-legislation-blocking-banks-from-owning-brokerages/comment-page-1/#comment-338142 Sean Terry | DealMakers Blog Tue, 03 Feb 2009 13:53:52 +0000 http://www.therealestatebloggers.com/2009/02/02/national-association-of-realtors-asks-for-legislation-blocking-banks-from-owning-brokerages/#comment-338142 The banks are so stupid, how can they run brokerage companies across the country when they can't even get a handle on their own business. Look at how they handle their current business. 1. Their short sale and loan mod process it ridicules 2. It takes 30-45 days to purchase a bank owned property, we buy cash and can close quick and they still can't streamline the process. 3. The current inventory they have is unfiinancable under current policy, so the only way to purchase is through FHA, 203K or cash. 4. They continue to penalize investors, example: we have a doctor with a 800+ credit score with documented income that can't purchase/finance an investment property under Fannie and Freddie's current 4 property rule. How stupid! I hope the NAR wins this battle; the next battle will be the appraisal management companies that will control all appraisers’ starting in May if the bill is passed. Yikes The banks are so stupid, how can they run brokerage companies across the country when they can’t even get a handle on their own business. Look at how they handle their current business. 1. Their short sale and loan mod process it ridicules 2. It takes 30-45 days to purchase a bank owned property, we buy cash and can close quick and they still can’t streamline the process. 3. The current inventory they have is unfiinancable under current policy, so the only way to purchase is through FHA, 203K or cash. 4. They continue to penalize investors, example: we have a doctor with a 800+ credit score with documented income that can’t purchase/finance an investment property under Fannie and Freddie’s current 4 property rule. How stupid! I hope the NAR wins this battle; the next battle will be the appraisal management companies that will control all appraisers’ starting in May if the bill is passed. Yikes

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