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Podcast: The Tom Toole Sales Group Podcast
Episode: New Changes to VA Loans as Result of NAR Settlement - Tom's Take 378
Description: Exciting news from the VA about buyer agency compensation to ensure veterans aren't disadvantaged post-NAR settlement. 👀
The VA's current rule prevents veteran buyers from being charged a fee related to a buyer broker, putting them at a disadvantage if sellers don't offer compensation. At a recent Mortgage Bankers Association conference, the VA announced they’ll release a circular in June to address this issue. ✅
We anticipate other financing bodies, like FHA, may also adjust their rules to allow larger concessions, helping buyers finance these commissions. Notably, major MLS systems are now permitting fields for seller-offered concessions, enhancing transparency for buyers.
These c...