This rule clarifies the Department of Housing and Urban Development (HUD)’s programs are available to all eligible individuals regardless of their sexual orientation, gender identity or marital status. Amended by Office of the Secretary of the HUD 24 Code of Federal Regulations §§5, 200, 203, 236, 400, 570, 574, 882, 891, 982 Effective date: March 5, 2012 The following updated definitions apply to all Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) programs and lenders, and to the regulations for Housing Opportunities for Persons with AIDS (HOPWA), Supportive Housing for the Elderly and Supportive Housing...Read More
Author: Carrie B. Reyes
This notice modifies former guidelines for tax deductions on recently built energy-efficient commercial buildings. Internal Revenue Code §179D Amended by Notice 2012-22 Effective date: March 12, 2012 – December 31, 2013 Energy-efficient improvements placed in service on commercial buildings between February 24, 2012 and December 31, 2013 qualify for tax deductions if the improvements show a 50% total energy reduction compared to minimum set requirements. If an energy-efficient building does not meet the 50% energy reduction standard, a partial deduction may be taken if energy savings total at least: 25% for interior lighting systems; 15% for heating, cooling, ventilation...Read More
Will simplified, standardized billing statements help borrowers understand their loan terms? Yes (50%, 4 Votes) No (50%, 4 Votes) Total Voters: 8 The Consumer Financial Protection Bureau (CFPB), established in 2010 under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), has proposed a standardized mortgage billing statement. The billing statement is crafted to help consumers stay on top of payments, anticipate mortgage rate resets and easily notice mortgage servicer errors. [For more information about the Dodd-Frank Act, see the October 2010 first tuesday article, TILA circa 2010; consumer protection enhancement.] The proposed billing statement includes: a breakdown of how the payment is split between the principal, interest and escrow payments; the principal amount remaining to be paid; the maturity date of the loan; notice of any prepayment penalties; and in the instance of an adjustable-rate mortgage (ARM), when and how the rates can reset. The CFPB is asking for input from industry professionals and the public before implementing a final version of the billing statement this summer. The bureau is also in the process of drafting new disclosure rules required for exotic hybrid ARMs, and rules to protect borrowers from expensive, “force-place” homeowner’s insurance policies. first tuesday take: The nationwide $25 billion bank settlement has curbed some confusing servicer practices, but it has done nothing to change the practices of non-bank servicers. This proposed mortgage industry...Read More
Have private party websites like Trulia, Zillow and Redfin dominated your practice of locating buyers for your listings? No (67%, 42 Votes) Yes (33%, 21 Votes) Total Voters: 63 A San Diego brokerage office has publicly denounced third-party real estate aggregators like Zillow and Trulia and removed access to its listings from those websites. These actions follow a few other large brokerages throughout the U.S. severing ties with third-party websites, though the San Diego real estate community is divided on the issue. One problem the San Diego brokerage office cited is third-party websites use intellectual property, such as real estate photos, without permission and without compensating the sources. They compared websites like Zillow and Trulia to Napster, the troubled file-sharing service known for the numerous lawsuits it received for copyright infringement. The brokerage office also claimed the aggregated listings available to the public occasionally contain erroneous information. Errors include the wrong real estate agent being featured on a listing, incorrect square foot data and some properties not being featured in a way that makes their information readily accessible to the searcher. Other questionable data on these aggregator websites included failing to remove active listings, posting wrong prices and providing inaccurate details about listed homes. Proponents of third-party listing aggregators say firms refusing to work with listing aggregators will miss out on all the sales opportunities popular listing websites provide....Read More
Do you invest in REITs? I do not invest in any type of REIT. (50%, 2 Votes) I invest in specialty REITs. (25%, 1 Votes) I invest in traditional and specialty REITs. (25%, 1 Votes) I invest in traditional REITs. (0%, 0 Votes) Total Voters: 4 Real estate investment trusts (REITs) have performed better than most investments during the recession. Furthermore, specialty REITs have performed even stronger than their traditional REIT counterparts in these tough economic times. At the end of last year, REITs showed a year-to-date return of 3.2%, and specialty REITs showed a return of 7.94%, according...Read More
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- Clint M I couldn't agree more, well said! – California’s Prop 13 is broken
- gw Thanks for the good read. – Brokerage Reminder: Appointing branch office managers – delegating responsibility for oversight and management
- Jesse Kent It 's really great to know.Thank you for sharing. – The burden of structural pest control
- GN California boasts that it has more than enough money to support it's millions of illegals. Just where does ALL this money come from? – California’s Prop 13 is broken
- Wm Matz One minor problem with this article. Two weeks ago the Fed rates its rates 1/4%. Over the last two weeks mortgage rates FELL 3/8%. Same... – Survey says: Rising mortgage rates to impact home prices
- Wm Matz It was published in the Santa Rosa Press Democrat. And as I said, the misallocation was confirmed by a local principal. sorry if it conflicts... – California’s Prop 13 is broken
- William Ashby Back in the "day". Fred and I both taught contuing ed classes in CA! He's a great guy! – Legislative Gossip
- Brent Silberbauer Thank you for not hating on the Trump administration. That was refreshing. – Survey says: Rising mortgage rates to impact home prices
- Bill Gillis Are electronic signatures by the Broker allowed on trust account checks? – Electronic documents and signatures in real estate transactions
[M]ost people join CAR in order to obtain the forms, not for the other services. And if there were any viable choices for agents, CAR would immediately suffer as much as a 40% to 50% loss in membership. […] CAR owns the “for profit” company that produces their software, with top officers in CAR sitting in top management spots in ZipLogix. This is the living, breathing definition of a conflict of interest. […] On their website they parade their forms software as “free” when cost of their forms software for non-members as a percentage of their actual membership cost speaks for itself.
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