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On April 12th, the Department of Real Estate (DRE) clarified whose duty it is to explain loan terms, the Mortgage Broker or the Real Estate Agent. In their updated article, it is the Mortgage Broker that has the responsibility to explain the terms plus explain the positives and negatives of the type of financing. Previously, the article said that some of the responsibility was on the Buyers Agent but the updated article has eliminated any responsbility from the Buyers Agent.

Written by Keith Byrd - Go to Keith's Website/Profile