Battling GMAC on 4% - 2nd position

Hi GMAC agents in the trenches,

We have a second with GMAC...$98,000. Their fax response to our package says "PER investor requirements, commission not to exceed 4%" It is a two agent/office transaction. WTH...too much work for 2% . Their dictating to the first!

How have you fought this battle and what has been your success?

THANKS MUCH!!! Pam

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Replies to This Discussion

Permalink Reply by Del on July 12, 2010 at 7:48am

Hey Pamela....I posted the same discussion as well. I've asked the negotiator to show me the "policy" that states that and no response from the negotiator. I'm still pushing them on the issue and if worst comes to worst I will submit the file to HAFA as it was previously rejected because of "incomplete paperwork". Good luck on that!

Permalink Reply by Kent Dills on July 12, 2010 at 8:02am

Pamela, I got this same response on an OCWEN 1st and I just told them "my broker won't allow anything less than 6%" and they folded. Give it a try!

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