Fundamentals | firsttuesday Journal

Governor appoints new DRE Commissioner

by Carrie B. Reyes | Nov 29, 2023 | Real Estate, Your Practice | 0

Chika Sunquist will step into the Commissioner role at the start of 2024.

Conflicts of interest facing appraisers and mortgage lenders

by Carrie B. Reyes | Nov 24, 2023 | Appraisal, Finance, Real Estate, Video | 0

An appraiser must not have a direct or indirect interest, financial, personal or otherwise, in the property they have been retained to prepare an appraisal.

Mortgage Concepts: Regulation of Appraisal Management Companies, a middleman for appraiser independence from lenders

by Carrie B. Reyes | Nov 20, 2023 | Appraisal, Feature Articles, Real Estate | 0

Learn how AMCs operate in California to maintain appraiser independence.

DRE Commissioner to retire

by Carrie B. Reyes | Nov 17, 2023 | Real Estate, Your Practice | 0

DRE Commissioner, Doug McCauley, will retire at the end of 2023.

Paying appraisers

by Carrie B. Reyes | Nov 10, 2023 | Appraisal, Feature Articles, Finance, Real Estate | 0

Fee appraisers are to be compensated by mortgage lenders and their agents at a reasonable rate – but there are exceptions that effectively gut this rule.

NAR® to pay out $1.8 billion in broker conspiracy lawsuit

by Carrie B. Reyes | Nov 2, 2023 | Feature Articles, Real Estate, Recent Case Decisions, Your Practice | 1

The National Association of Realtors® (NAR®) is in hot-money water again, this time for a full-blown conspiracy to inflate broker fees.

New advertisement law requires all fees be disclosed upfront — with implications for real estate

by Carrie B. Reyes | Oct 30, 2023 | Buyers and Sellers, New Laws, Real Estate, Your Practice | 0

With authorities cracking down on misleading advertising, brokers and MLOs will be wise to take this opportunity to ensure their adverts are in compliance.

DRE Hot Seat: Real estate course provider falsely promises free CE for life

by Amy Platero | Oct 30, 2023 | Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) issued a bar order against a real estate course provider who published false and misleading statements about their continuing education courses, issued false CE certificates, and more.

Alternative fee structures to attract clients when home prices are falling

by Carrie B. Reyes | Oct 30, 2023 | Economics, Feature Articles, Home Sales, Real Estate, Recessions, Your Practice | 0

Sellers attempting to save money when prices are falling often turn to FSBOs – here’s how you can regain fee-adverse clients.

Appraisal discrimination made easier to spot with California’s new law

by Carrie B. Reyes | Oct 23, 2023 | Appraisal, New Laws, Real Estate | 0

A new law authorizes the California BREA to collect demographic data from appraisers.

Meet the MLO video course that fulfills your NMLS CE renewal needs

by ft Editorial Staff | Oct 16, 2023 | Feature Articles, Fundamentals, Licensing and Education, Mortgages, Real Estate, Your Practice | 0

Your NMLS renewal just got more entertaining now that firsttuesday’s 8-hour NMLS CE Online Video course is freshly approved.

NAR® members jump ship following sexual harassment allegations and more anti-trust lawsuits

by Carrie B. Reyes | Oct 16, 2023 | Feature Articles, Real Estate, Your Practice | 0

Licensees and the public more broadly have recently grown uncomfortably aware that those in charge don’t always follow their own rules.

Letter to the Editor: Who may render a broker price opinion (BPO)?

by Carrie B. Reyes | Oct 9, 2023 | Appraisal, Letters to the Editor, Real Estate, Your Practice | 0

Does one need to be a broker to prepare and present a broker price opinion (BPO)?

Your next renewal just got more entertaining — and informational

by ft Editorial Staff | Oct 9, 2023 | Feature Articles, Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

Video BO-AFTER™ is the culmination of years of meticulous work, being in some state of active production since May 2017. And now, it is approved by the DRE and ready for your next renewal — get ready to be entertained as you are being educated.

California’s for sale inventory: a symptom of seller reluctance in 2023

by Carrie B. Reyes | Oct 5, 2023 | Charts, Fundamentals, Home Sales | 1

A shortage of willing sellers has sunk California’s for-sale inventory in 2023.

UDAAP consumer mortgage protections extended to commercial financing

by Carrie B. Reyes | Oct 2, 2023 | Commercial, Finance, Mortgages, Real Estate, Your Practice | 0

Existing regulations prohibiting unfair, deceptive, and abusive practices (UDAAP) in consumer mortgage financing now apply to the conduct of originators of commercial mortgage financing in California.

DRE Hot Seat: Broker license suspended for failure to prevent unlicensed staff from conducting licensed activity

by Amy Platero | Sep 27, 2023 | Fundamentals, Licensing and Education, Real Estate, Your Practice | 0

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the real estate license of a broker who failed to adequately supervise the activities of his staff as his unlicensed assistants were contracting and negotiating with principals in real estate transactions.