Tax-Deferred When people talk about 1031 Real Estate Exchanges, they use the word Tax-Free. The correct word is Tax-Deferred. You will be paying the tax sometime later. And in every exchange one party is normally going to be taxed, unless they are also doing an exchange. You can have several legs to an exchange, but […]
Trust Fund Management In my real estate classes I ask a question and many licensees do not know the correct answer. Ready? What is a worse crime in Trust Fund Management? Commingling or Conversion. They answer commingling because licensees are taught from their first class, never mix your personal funds with trust funds. Conversion according […]
Last URLA Post The last post was written early morning on the 12th of June. The following link discloses that the effective dates were changed and now no one knows when they will start. The lender and servicing lobby strikes again. Will pass along the information when we find it. Theresa Ballard, Compliance Icon from […]
Changes Yes, the URLA that you have been using is a-changing. Optional use of the new rendition begins July 1, 2019 (in less than a month) and mandatory usage begins February 1, 2020. Important point to consider. There will be a new Lender Loan Information Form. This information was formerly on the URLA. Now, it […]
URLA Changes Yes, the URLA that you have been using is a-changing. Optional use of the new rendition begins July 1, 2019 (in less than a month) and mandatory usage begins February 1, 2020. Important point to consider. New Lender Loan Information Form There will be a new Lender Loan Information Form. This information was […]
MLO Pre-Licensure We have the 20 Hour Pre-Licensure Course both LIVE in many areas and online plus we offer a one-day Test Prep Crash Course which is designed to prepare students to pass the National Examination. DRE Pre-Licensure Also, if someone wants to become a DRE MLO, we offer the courses to become a Real […]
Path to Success To help DRE MLO’s to stay on the straight and narrow path to success, the DRE has prepared a manual that should be used by all MLO’s. This includes Brokers, MLO’s, and all the staff in a company. Trust Funds One of the most important sections is use of a Trust Fund. […]
Important Information This information is important for DBO’s, DRE’s, and FDIC’s. The alert on 5/29/19 is especially pertinent. The title is “Website FDIConnect.com should not be confused with Federal Deposit Insurance Corporation.” New Techniques Scammers keep coming up with new techniques. It is our job to protect our clients, friends, and the public. For a […]
Informative Article Another informative article for you and your clients. Read it, understand it and relay the facts to your clients. While you are on this website, check out all the other information. The site is FHA Refinance Loan Facts You Need To Know.
How To Protect Yourself And Your Closing Funds The subtitle of this alert says it all: “How to protect yourself and your closing funds.” The agency emphasis is on a sophisticated phishing scam going around. If anyone’s money gets lost in a transaction, the losers will sue everyone anywhere near the transaction. Share It This […]
