Title: **Important Update on Seller Concessions and IPCs: What Real Estate Professionals Need to Know**
Description:
In today's video, we dive into the latest policy clarification from Fanny Mae and Freddy Matt, which has significant implications for real estate agents and loan officers. Released just this morning, these updates primarily focus on seller concessions and the role of interested party contributions (IPCs) in real estate transactions.
Key Points Covered:
1. **Seller Concessions**: Understand the updated limits on seller concessions, which are funds used towards closing costs such as title fees, appraisal fees, and other legitimate expenses. We'll explore how these concessions vary by loan type and the impact on your transactions.
2. **Buyer's Agent Fees**: Can buyer's agent fees be included in seller concessions? We discuss Fanny Mae and Freddy Matt's stance on including these fees as long as they are customary for the area, and how this could affect the payment of other closing costs.
3. **IPC Guidelines**: Discover the specifics of Interested Party Contributions and how these can be leveraged in real estate deals without affecting normal seller concession limits. This is a crucial update for ensuring compliance and maximizing transaction flexibility.
4. **VA's Position**: We also touch on the Veterans Affairs (VA) current policy which differs from other agencies and how impending changes could align their guidelines with the new standards set by Fanny Mae and Freddy Matt.
This video is a must-watch for anyone involved in real estate transactions to ensure you are up to date with the latest regulations and can continue to operate effectively under the new rules. Make sure to check out the links below for detailed information and guidelines. Don’t forget to like, subscribe, and hit the bell icon for more updates on real estate policies and market trends!
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719 Lending Inc.
104 S Cascade Ave, Ste. 201
Colorado Springs, CO 80903
(844) 719-5363 (LEND)
This blog / video is intended to be viewed for informational purposes only. The content contained herein is not guaranteed or endorsed by 719 Lending, Inc., or any company mentioned, nor is this content meant to be an offer of credit. The information contained in this video may not be wholly or at all applicable to every situation or jurisdiction. You are strongly encouraged to consult your professional mortgage advisor before acting upon any information in this video. Equal Housing Opportunity. Colorado Mortgage Broker NMLS # 1601989
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