First Monthly Servicer Report May Encourage Individuals to Obtain a Real Estate License

Posted by: Sean L.

Interested in obtaining your real estate license? Now may be the right time. Real estate market stabilization continues to make progress. And with the recent release of the first monthly Servicer Performance Report, the future outlook for our nation’s real estate market is looking positive.

An initiative of the current presidential administration, the Servicer Performance Report is a monthly outlook of the progress of the Making Home Affordable (MHA) loan modification program. The report also covers a comprehensive plan to stabilize our country’s housing market, which continues to experience an increase in activity.

Pending listings are up for the fifth consecutive month and many first-time buyers who qualify for the $8,000 tax credit are taking advantage of the opportunity to own a home.  The continued upswing in the real estate market is a sure indication that recovery is well underway. Training for your real estate license now may give you that much needed competitive edge – especially if you pair your real estate license training with a background in green.  

In just a few short months, the MHA has made rapid progress.  For instance, servicers covering more than 85 percent of loans are already making modifications under the program.  To date, over 400,000 modification offers have been extended and more than 230,000 trial modifications are underway.  At this pace, the program is on track to offer assistance to some 3 to 4 million homeowners over the next three years. 

The administration is also taking steps to improve overall performance.  For instance, the CEOs of participating servicers were recently called upon to redouble their efforts to increase staffing, improve borrower response times and streamline the application process. 

To provide additional protection for borrowers, the administration has asked Freddie Mac, the program compliance agent, to develop a “second look” process to review MHA modification applications that have been repeatedly declined.

Stricter real estate laws aim to alleviate past mistakes and are an attempt to clear the way for smarter real estate transactions and real estate professionals held to higher standards.  You can be a part of an evolving industry that’s enduring permanent and positive changes. 

Curious about what real estate training is needed to sell real estate?  Start your research online and consider an accredited online real estate school.  In a matter of months, you could be contributing to our nation’s continually, stabilizing real estate market.  Click here to learn more about real estate broker license.
 

Last updated: 08.31.2009 03:56 PM