Hello Everyone,

Here is a great read regarding Agent fees & commission caps for new buyers that you should start seeing in the near future !

This post from CBS news could be a HUGE interest to you. this is a MAJOR INSIGHT on what the Industry could come in contact with in the coming months~

” Experts said this week’s legal verdict that the powerful National Association of Realtors (NAR) and several large brokerages conspired to inflate home commissions could eventually reduce real estate agents’ fees and, crucially, lower costs for home buyers and sellers. At a minimum, the jury ruling will likely lead to greater transparency, long a source of confusion and frustration for consumers about where their money goes in real estate transactions.

The vast majority — or nearly 90% — of U.S. homes are bought and sold through real estate agents affiliated with NAR. The organization, the country’s largest trade association, requires home sellers to offer a non-negotiable commission before listing homes on its property database, known as the Multiple Listing Service, or MLS, which feeds into real estate sites such as Zillow. Paid by the home seller to their agent as well as the buyer’s agent, the commission currently stands at around 5% to 6% of a home’s sale price. “

Please read & let me know …

What is your thoughts on this?

Is this a positive or negative impact on you personally?

Were all getting ready for next year and hoping and wishing for the market to ease with inflation ASAP – Will this be a huge factor/reason for buyers to get back into the market? I think so, especially with the closing costs we have all been seeing ” Lately ” ( for a while now ) on your borrowers to get deals done, I think this will open up a chunk of the buyers market that we haven’t seen in a while.

Honestly, from an Account Executives point of view, Closing costs kill deals just as much as rates can ~

https://www.cbsnews.com/news/nar-lawsuit-verdict-real-estate-agent-commissions/

• This discussion was modified 1 week, 2 days ago by  Sapna Sharma.

Many real estate investors buy fixer uppers and renovate it. After renovation, investors will either flip it and try to sell it for a profit. Other investors want to keep it as a rental by AirBnB’d or long term rental. However, investors want to take cash out refinance to get the renovation cost back with a DSCR Cash-Out Refinance mortgage loan. The issue you run into is most non-qm wholesale mortgage lenders require a one year seasoning requirement on DSCR Cash-Out Refinance mortgage loans. GCA MORTGAGE Group can help Cash-Out Refinance on DSCR loans with six months seasoning of property ownership. Please contact us at contact@gustancho.com

Here’s an informative article about DSCR loans

http://www.gustancho.com/dscr-mortgage-loans

gustancho.com

DSCR Mortgage Loans: Debt Service Cover Ratio

DSCR Mortgage Loans is underwritten based on the cash flow of the property. Borrower does not have to provide income docs or tax returns

Cameron LeClair just told me about their great rental financing program for first-time real estate investors and Donal Trump wannabees. Cameron is a wholesale account rep at The LENDER. The Lender has creative financing programs on non-QM loans. This month’s special at The Lender is Their No-Doc 25% down payment rental property financing program with no DSCR, no income verification, and no doc. It is like a hard money loan but non-hard money fees and LTV. First-time investors are allowed from $150,000 to $2 million. This month’s special is no points on rate, and only the borrower paid compensation at 1.5%. Contact Cameron LeClair at The LENDER. Here is a blog written by Dale Elenteny on investor cash-flow financing on rental properties:

https://gustancho.com/investor-cash-flow-financing-for-rental-properties/

gustancho.com

Investor Cash-Flow Financing For Rental Properties

Gustan Cho Associates offers the no-doc Investor Cash-Flow Financing For Investment Properties where we just underwrite the rental property

Many people like to purchase homes with acreage so they are not close to neighbors. Some homeowners have over 20 acres and are having difficulty getting financing on first or second-mortgage loans. Working on a case now where my client has a home on 81 acres, and there is not a single non-QM wholesale lender that will touch this property due to the large acreage the home sits on. The Veterans Affairs Administration will allow VA loans on large acreage if the property is not a working farm. In this thread, I like to go over financing a home that sits on acreage, what a working farm is, what the definition of a hobby farm is, and the loan options homeowners who want to buy or refinance on a home with acreage have. Luckily, I have a super cool client who is working with me on getting these obstacles answered. I have not yet encountered a single wholesale lender who will finance a first or second mortgage on homes larger than 10 acres.

Hello & Good Morning Everyone!

I wanted to create this new topic based on the recent crypto increases this week –

I am looking forward to hearing all your thoughts on what coins/token you have in your trusted portfolio & what you expect for 2024.

https://www.coindesk.com/markets/2023/11/10/bitcoin-could-hit-69k-by-mid-2024-as-it-enters-acceleration-phase-analyst-says/

coindesk.com

Bitcoin Could Hit $69K by Mid-2024 as It Enters Acceleration Phase, Analyst Says

BTC prices have doubled this year amid a spot ETF push by prominent traditional finance firms.

Hello Everybody on GCA!

I wanted to create a discussion regarding all Questions & Concerns regarding all NON-QM products.

I am Sales Account Executive & I will be going through Generics & specifics on guidelines & also details to pay attention to with your loan process as Broker, Client, AE & Agent.

Will be also posting FAQ’s as well.

Please feel free to reply with any comments 🙂

I look Forward to hearing all your thoughts!

Thank you!

Cameron Leclair

theLender-Your-Non-QM-Lender.pdf 3 MB PDF - Click to view

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