Brother, Can You Spare a Participation Loan?
Deposits aren't a problem for REALTORS. Rather, it's loans. Eighty-two percent of NAR members are self-employed. However, the trade association's credit union can't make business loans. Furthermore, loans are limited to a maximum of $650,000 each, which Glatt said prices him out of helping many of his members.
"I have $15 million sitting in an overnight account," he told his keynote audience, "and I'm looking for at least 6%."