Apr 7, 2020
Keller Williams franchises consider reducing agent profit sharing
A franchise owner confirmed to Inman that regional leadership at Keller Williams suggested rolling all expenses into April's budget to enable them to hang on to more cash.. Keller Williams local leadership allegedly told some franchise owners to roll all expenses — even future ones — into April’s budget to minimize profits, effectively lowering the amount they would have to pay into profit-sharing to keep more cash on hand, according to multiple franchise owners.
Wells Fargo suspends jumbo mortgages as demand fades
In this uncertain market, demand for jumbo mortgages is declining as more homeowners seek forbearances and investors look to more secure loans during the Covid-19 crisis
The stimulus package could create 'chaos' in the mortgage industry
A coalition of real estate and banking trade groups is calling on Congress to help banks with liquidity as they allow homeowners to forbear their mortgage payments
A coalition of real estate and banking trade groups — which includes the National Association of Realtors, Mortgage Bankers Association, National Association of Home Builders and others — wrote a letter demanding the liquidity facility to support their efforts to allow homeowners the ability to forbear their mortgage payments.