New applicants must now complete two hours of Fair Housing training and existing members must complete the course every three years. In addition to the now required Ethics training. (more…)
CFPB ORDERS LENDER TO PAY $20 MILLION IN PENALTIES
Installment lender: One Main Financial of Evansville, IN was ordered to pay $10 million to customers and another $10 million in penalties for failing to refund interest charged and selling add-on products. (more…)
DFPI: Department of Financial Protection and Innovation – Scam Alerts
To me they will always be the Department of Corporations but their comments are licensed under their regulations. Check out their headline alert: Crypto Scam Tracker. Search the table below by company name, scam type, or keywords to learn about the specific complaints the DFPI has received. Use this information to protect yourself when engaging […]
Ten-year rate hikes freeze up sellers in property markets; Monthly Statistical Update (June 2023)
The Monthly Statistical Update (MSU) keeps agents and brokers current on the market trends affecting California real estate transactions. This month, we’re covering: the rising Federal Funds rate, which is directly causing adjustable rate mortgage (ARM) rates to jump in 2023; rates on mortgage insurance from private insurers contrasted with the FHA, making mortgage borrowing even more expensive for homebuyers […]
IRS AND FORECLOSURES
What happens when there is an IRS lien on a foreclosure sale? Do they have any super extra rights? No, they have 120 days to buy the property from the winning bidder paying the price bid at the sale. https://www.nolo.com/legal-encyclopedia/what-happens-my-home-if-i-dont-pay-income-taxes.html#:~:text=When%20an%20IRS%20lien%20gets,becomes%20the%20home’s%20legal%20owner.
MY WORD OF THE DAY, SCHADENFREUDE
The online dictionary definition states, “The joy derived from the misfortunes of others”. Have you ever felt a little pleasure when some athletic team loses? An election loss by someone you do not respect? Etc. Etc. One example from my past involves the Boston Celtics and Red Auerbach, their long time very successful coach. They made […]
A NEW 2023 LAW
To qualify to take the Brokers Exam, an applicant must show that they have two years licensed experience in the real estate field or a college degree with a major or minor in real estate or equivalent experience in real estate related occupations such as escrow or lending. The experience must be within the five […]
SAFEGUARD YOUR DATA
The Spring issue of the NAR Magazine had an excellent article on this topic. The local Realtor and National Realtor Magazines are always worth the time to review. There is a valuable quote at the end of the offering. By Tim and Julie Harris from their book, “Old School Etiquette for a New World Communication”. “Communicate […]
SANCTIONS AGAINST COURSE PROVIDERS
Years ago every licensee received a DRE Quarterly Bulletin by mail. Everyone would immediately go to the section that showed the penalties imposed on licensees in the previous quarter. Many times you would see someone you knew or knew of. In today’s market this information is posted on the DRE Website. Enter Summary of Enforcement […]
YOU HAVE A TAXPAYER’S BILL OF RIGHTS
There was an interesting overview of the IRS Taxpayer Bill of Rights in a Tax Tip email sent to me by the Internal Revenue Service (hope you are now a subscriber). The overview includes 10 important categories of rights of which you should be aware. #1: The Right to Be informed: Be told what you have […]