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NAHREP of Northern Virginia

News September 11, 2009

FreddieMac Bulletin update

Who we are The National Association of Hispanic Real Estate Professionals of Northern Virginia (NAHREP NVA) is a non-profit 501(c)6 trade association and a chapter of NAHREP, a national organization with over 15,000 members in over 60 affiliate chapters in 48 states. Our members are real estate agents, brokers, loan officers, mortgage brokers, title officers, escrow officers, appraisers, insurance agents and more. They are from diverse cultural backgrounds as membership is not limited to professionals of Hispanic descent. For more information, visit us at nahrepnva.org

Of particular interest to real estate agents may be FreddieMac's update to provide Servicers further guidance regarding the negotiation of broker real estate commissions on a short payoff. The section reads: " Unless a real estate broker's sales commission exceeds 6% of the property sales price, Servicers must not, as a condition of the Servicer's acceptance of an offer, renegotiate the real estate broker's sales commission to an amount that is lower than the amount that was originally agreed upon between the broker and the Borrower. In the event the sales commission exceeds 6%, the Servicer must renegotiate the commission to limit it to 6% of the property sales price". To acces the update, visit http://www.freddiemac.com/sell/ guide/bulletins/pdf/bll0922.pdf

NAHREP of Northern Virginia at HOPE NOW Alliance Event in Woodbridge Several members of NAHREP of Northern Virginia responded to our call and participated in a HOPE Now Alliance foreclosure prevention event held last Thursday in Woodbridge, VA. With their volunteer help and interpretation/translation skills, 720 homeowners had face-to-face meeting with their mortgage loan servicers or housing counselors during the event. Thank you for your help in making a difference for these families!

NAHREP Members receive Mortgage Fraud Training from the FBI More than 50 attendees gathered at MetLife Home Loans in Fairfax on August 20 to hear FBI's Supervisory Special Agent Adam Lee provide an in-depth presentation on the FBI Mortgage Fraud task


Did You Know? Early registration pricing for the AREAA/NAHREP Real Estate Marketing Conference in Las Vegas, NV ends on September 15th! To get more information and to register, go to nahrep.org

Not a NAHREPNVA member yet? Join us! Get your membership materials at nahrepnva.org

Force and the innovative programs they are implementing to combat residential mortgage fraud in the Washington Metropolitan Area. A postpresentation email survey sent to all attendees gave top marks to the presentation and the information received. Many thanks to Norman Robles and to MetLife Home Loans for hosting the event and for their fantastic hospitality. To view more photos of the event, follow this link: http://picasaweb.google.com/nahrepnva/ TrainingMortgageFraudWhatYouNeedToKnow?feat=directlink We intend to continue to bring important and relevant information to our members. if you have suggestions as to topics you would be interested in learning more about, please send us an email at info@nahrepnva.org

In the News New Data Suggest Foreclosure Mitigation Efforts Growing Fed Expects Growth Amid Vulnerability Confusion Roils HARP Program for Refinancing Pending Sales of Existing Homes in U.S. Rose in July Commercial Real Estate Lurks as Next Potential Mortgage Crisis


Fed Raises Mortgage-Bond Purchases as Lacker Suggests Slowdown


NAHREP of Northern Virginia Newsletter