Why I posted this:
The above video is a statement from the President of the National Association of Realtors (NAR). Recent studies indicate that the public does not know what a Realtor is..thinking that a real estate agent is a Realtor which is not always the case. While we get licensed from the state and become a “real estate agent or real estate broker” we must belong to the New Orleans Metropolitan Association of Realtors, the Louisiana Realtors Association and the National Association of Realtors to use the word “Realtor” which is a registered trademark. This video show why that is important for you, the consumer. NAR members lobbied and fought to keep housing affordable for buyer’s. Yes, anyone licensed can sell real estate but not everyone made this happen. When you go to buy or sell real estate support your Realtor community, hire a Realtor®.
About the Video:
“Realtors® were among the most vocal opponents of the first QRM rule proposed in April 2011 because it would have denied millions of creditworthy Americans access to the lowest cost and safest mortgages. We applaud the regulators for removing the 20 percent downpayment requirement and for adopting reasonable credit and debt-to-income standards.
“In addition to the main proposal that we support today, regulators introduced an unfavorable alternative that would require buyers to put 30 percent down to qualify for a QRM loan, a restrictive measure that dramatically favors the wealthy. Research shows that it would take the average American more than 25 years to save enough money to buy a modest home with a 30 percent downpayment.
“Realtors® will continue to oppose any regulation that requires unreasonably high downpayments from consumers.”
If you prefer the written version: The QRM Rule from the National Association of Realtors.