"Has anyone ran into a request from the mortgage insurance company to sign a promissory note. We had a buyer and Litton wouldn't review the offer until the promissory note was signed. There were so many positive comments about Litton I am…"
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Jessica Loukota Leimback
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- Mesa, AZ
- United States
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Commission Reduction
Started this discussion. Last reply by Kim Chitwood www.kimchitwood.com Sep 8, 2010. 10 Replies 0 Likes
I submitted the short sale through equator and received a counter offer to which they never changed the commission amount. I received the approval letter and they reduced the commission from 6% to…Continue
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Litton Loan Servicing
A place to discuss short sales with Litton Loan Servicing and share solutions and strategies used to get short sales approved.
Kim Chitwood www.kimchitwood.com replied to Jessica Loukota Leimback's discussion Commission Reduction"We would have done a designated agency on that one. We don't do dual agency at our office. That is a crock of crap..."
Kim Chitwood www.kimchitwood.com replied to Jessica Loukota Leimback's discussion Commission Reduction"I've had mine cute to 5% with one brokerage but never 4! That blows!"
Obed Montez replied to Jessica Loukota Leimback's discussion Commission Reduction"The listing belongs to the broker and if an offer comes from the same office than the offer belong to the broker also. That is what the Agency disclosure Form says, and that makes it a dual agency. But I would say fight it, since the bank does not…"
Joseph C. Alfe replied to Jessica Loukota Leimback's discussion Commission Reduction"call their bluff, tell them to cancel."
Jessica Loukota Leimback replied to Jessica Loukota Leimback's discussion Commission Reduction"The negotiator for GMAC stated, cooperate or we will cancel the file. Same brokerage, dual agency, 4% max. I would have referred it outside of the company had I know that would be the only option. Thank you for the support and info."
Julie Vrigian CSSG, CSSP replied to Jessica Loukota Leimback's discussion Commission Reduction"Good Luck Wendy, let us know how it goes..."
Wendy Smith replied to Jessica Loukota Leimback's discussion Commission Reduction"the negotiator said the policy is 4% because one brokerage? Yep, it's worth the fight."
Julie Vrigian CSSG, CSSP replied to Jessica Loukota Leimback's discussion Commission Reduction"Lender's often times will try to do this whenever there is one brokerage involved. I agree, I would fight it!"
Joseph C. Alfe replied to Jessica Loukota Leimback's discussion Commission Reduction"Fight it. They are mistaking it for dual agency, in which they will reduce to 4%"
Vanessa Calhoun replied to Jessica Loukota Leimback's discussion Commission Reduction"Is it a HAFA, FHA, or Freddie Mac deal?"
Jessica Loukota Leimback posted a discussionCommission Reduction
I submitted the short sale through equator and received a counter offer to which they never changed the commission amount. I received the approval letter and they reduced the commission from 6% to 4%. The negotiator stated it is GMAC's policy. This is the first transaction I represent the seller and referred the buyer (sign call) to an agent in our brokerage. Two licensees and one broker. Does anyone have advise or experience with this circumstance?See More
Profile Information
- Occupation
- Realtor
- Areas You Service (be VERY specific specific and include ALL counties, cities, states, and towns you service!)
- Mesa, Gilbert, Queen Creek, Apache Junction, Gold Canyon, Chandler
- Short Sale Designations and/or Special Training
- SFR (Short Sales and Foreclosures Resource)
- Website
- http://jllrealestate.com
- Short Sale Transactions Completed
- 10-25
- Do you have any experience in Commercial Real Estate? If so, do you have the CCIM or any commercial designations? How many commercial transactions and dollar volume have you CLOSED?
- 2, 2.5 Million
- About Me/Profile of yourself: - Please add your Brokerage Company name also!
- Jessica Loukota Leimback ABR, SRES, CNE, SFR, REALTOR
Solutions Real Estate
2353 East Baseline Road
Gilbert, AZ 85234
Office 480-838-9613
Direct 602-904-6343
Cell 480-678-0365
Fax 866-945-9247
jessica@JLLRealEstate.com
www.JLLRealEstate.com
- Put in todays date! This is to help stop spammers!
- August 5, 2010
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