Gov't Affairs, Govt - State of Colorado

Colorado Association of Realtors: CAR Attorney Testifies at Pre-Hearing

On January 25th, CAR General Counsel, Scott Peterson testified at the pre-hearing on the Division of Real Estate Sunset before the Senate Business, Labor, and Technology Committee. This pre-hearing was an opportunity for the committee to hear from the Department of Regulatory Agencies’ Policy Analyst and stakeholders on the DORA Sunset Report. Peterson shared CAR’s… Continue reading Colorado Association of Realtors: CAR Attorney Testifies at Pre-Hearing

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

Get Ready For RESPA Changes

On November 20, 2013, the Consumer Financial Protection Bureau (CFPB) issued its final rule to integrate the Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) disclosures and regulations. The final rule integrates existing disclosures with new requirements from the Dodd-Frank Act to improve consumer understanding of the mortgage process, aid in… Continue reading Get Ready For RESPA Changes

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

RESPA/TILA Webinar

A NAR webinar that covers changes to Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act is available online. The new rule combines the Good Faith Estimate with the Truth in Lending (TIL) disclosure now called the "loan estimate" and the… Continue reading RESPA/TILA Webinar

- IRES MLS News, Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

Feds Impose Big Fine for Inadequate Affiliated Business Disclosure

On May 28, 2014, the Consumer Financial Protection Bureau (CFPB) announced a consent agreement and $500,000 fine to a real estate firm for inadequate disclosure language in an affiliated business disclosure. Under the Real Estate Settlement Procedures Act (RESPA) affiliate entities must disclose relationships to consumers at or prior to the time of referral and… Continue reading Feds Impose Big Fine for Inadequate Affiliated Business Disclosure

Gov't Affairs, Govt - Nation, Govt - State of Colorado

House Passes RESPA Home Warranty Clarification Act

On Wednesday, Aug. 1, 2012, the U.S. House of Representatives passed "The RESPA Home Warranty Clarification Act of 2011" (H.R. 2446). The bipartisan legislation is designed to counter an erroneous Department of Housing and Urban Development interpretive rule that reversed decades of common understanding of RESPA. Real estate professional and home warranty companies routinely partner… Continue reading House Passes RESPA Home Warranty Clarification Act