Freddie Mac to Reduce REO Broker Commissions
The National Association of Realtors (NAR) issued a notice to its members Monday alerting them that Freddie Mac plans to cut back the amount of commission paid for REOs sold in certain states.
The GSE said it decided to institute the commission reductions in order to reduce expenses, after considering various data in the affected states, NAR explained. The new payment plans apply to Freddie Mac-owned HomeSteps properties that are listed with a real estate broker on or after January 1, 2011.
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