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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] If JK says it... Posted by CC in OC on April 22, 2009 at 10:13 AM In Reply to: Re: Select an effective negotiator... posted by JK (the other JK) on April 22, 2009 at 10:01 AM ...it must be true, except that when I was negotiating short sales, the realtor(s) got their commission and I got a fee, too. BTW, Fannie Mae recently announced that real estate agent commissions are not to be negotiated. This is probably due to the fact that when the lender negotiates to reduce the realtors' commission, the lender has effectively committed tortious interference with a contract. http://tinyurl.com/dcu9ar No Negotiation of Preforeclosure Sales Commission Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : ...it must be true, except that when I was negotiating short sales, the realtor(s) got their commission and I got a fee, too. : BTW, Fannie Mae recently announced that real estate agent commissions are not to be negotiated. This is probably due to the fact that when the lender negotiates to reduce the realtors' commission, the lender has effectively committed tortious interference with a contract. : http://tinyurl.com/dcu9ar : No Negotiation of Preforeclosure Sales Commission : Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers : Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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