Recent events in the real estate industry have caused many to ask the question: ‘What will happen to the mortgage industry if buyers agents and brokers are no longer involved in most real estate transactions?’ The implications of this change could have huge implications on the home loan sector, as many loan officers rely on referrals from agents for their transactions.
To address these changes, some loan officers (LOs) have already taken action by planning to directly target consumers. Such efforts would involve a larger investment of their time but could also result in economic rewards. If more LOs will follow suit, the referral-based mortgage industry is going to be presented with a new challenge.
Key Points:
• Some real estate changes have caused many to question their implications on the mortgage industry
• Many LOs rely on agent referrals for transactions and could face a smaller target group
• To address this, some LOs have begun to target consumers directly
• This could result in a larger investment of time but may yield economic rewards
• The referral-based mortgage industry is presented with a new challenge
You can read this full article at: https://www.housingwire.com/articles/how-the-buyer-commission-lawsuits-could-upend-the-relationship-between-agents-and-los/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.
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