CRMLS Partners with RatePlug and FHA Pros to Provide FHA Eligibility Indicators Through Association Product Co-Op

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Apr 13, 2017, 11:00 ET

SAN DIMAS, Calif., April 13, 2017 /PRNewswire/ -- California Regional Multiple Listing Service. Inc. (CRMLS), the nation's largest multiple listing service (MLS), announced it has introduced a new tool through the Association Product Co-Op to help its subscribers sell more properties and provide greater service to the consumer.

When properties are eligible for FHA financing, buyers enjoy lower down payment options and easier credit requirements. CRMLS has collaborated with RatePlug and FHA Pros to add FHA Eligibility Indicators to all condos and townhomes in CRMLS Matrix for members of Associations opting to use the service through the Association Product Co-Op. These subscribers can now simply look for the "traffic light" indicators on each condo and townhome listing in the MLS to determine if the property is FHA approved (green light), conditionally approved (yellow light), or not approved (red light). The new tool also provides helpful information about how to obtain FHA eligibility for unapproved properties.

"FHA PROs, in partnership with RatePlug, is excited to provide MLS innovator CRMLS with real time condominium data by specific property address, including FHA approval, eligibility, and assumability information," said Christopher Gardner, CEO of FHA Pros. "This technology will help agents selling condominiums to be more efficient and accurate in their marketing practices, and enable them to provide their homebuyers with valuable information regarding specialty financing options."

"We are very pleased to offer our Associations another option to help their members deliver the best possible service to the consumer," said Art Carter, CRMLS Chief Executive Officer. "This new agreement represents another step forward in providing our Associations with the ability to address their members' specific needs at a local level. We will continue to grow the Association Product Co-Op in accordance with our commitment to valuing local voices within our membership."

FHA Eligibility Indicators enhance the value of the existing RatePlug Program, which enables the display of real-time housing payment information within MLS property listings. This information assists real estate professionals and homebuyers in effectively searching for properties within their desired budgets. The system uses live lending data from lenders who are referred by and work with participating Brokers. Currently, over 10,000 CRMLS members utilize RatePlug in the MLS.

About California Regional Multiple Listing Service (CRMLS)
California Regional MLS is the nation's largest and most recognized subscriber-based MLS, dedicated to servicing over 81,000 real estate professionals from 32 Associations, 3 Boards of REALTORS® and 1 MLS. CRMLS is the industry powerhouse and thrives on providing the most relevant products and services to its subscribers. For more information on CRMLS visit www.crmls.org.

About the CRMLS Association Product Co-Op
The CRMLS Association Product Co-Op is an initiative that empowers CRMLS Associations by giving them control over the type and variety of products they offer to their members. Associations see a cost benefit from CRMLS's negotiating power as a large institution when arranging contracts.

SOURCE California Regional MLS