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VA mortgage lenders struck with subpoenas? Apparently. Secondary markets (the requirement for loans and what investors are willing to pay for them) drive the primary markets: Anything that affects demand and pricing influence rate sheets. LOs don’t need to be experts in this, however, financial institutions are after CECL: the existing Expected Credit Loss benchmark. Ask your vendors what they’re doing it about. What about the supply and demand dynamics that continue to buffet the real estate agent version? A class action lawsuit has been filed together with the U.S. District Court in the Northern District of Illinois alleges that cooperation and compensation is an anti-trust breach that results in consumer injury and seeks an injunction against forcing home sellers to pay the commissions…(read more)