This continuing education course addresses the specifics of the National Association of REALTORS® Code of Ethics and ethical practices and decision making for real estate professionals.

Additionally, this course may potentially be approvable for REALTORS® who wish to fulfill biennial Code of Ethics requirement from the National Association of REALTORS. Check with your local REALTORS® association for applicability.

What Lurks Beneath

The federal Real Estate Settlement Procedures Act (RESPA) was signed into law more than 40 years ago. Its primary goal: to ensure home buyers received professional, ethically delivered services in obtaining a mortgage, and then to ensure they successfully closed on the purchase of their portion of the American Dream.

RESPA has been revised many times during that period, to address both changing economic circumstances and to plug legal loopholes that could have been exploited by unethical parties. It can be safely said, however, that the latest revisions to RESPA and the mortgage sourcing and settlement process – called the TILA-RESPA Integrated Disclosure, or TRID, and scheduled by the Consumer Financial Protection Bureau to take effect during October 2015 – are the broadest and deepest changes ever to this legislation.

Pennsylvania real estate sales and broker licensees MUST alter or abandon many of their past settlement practices as they deal with home buyer clients. The bureau program includes new Loan Estimate and Closing Disclosure documents. It demands strict adherence to deadlines and time requirements in the delivery of information to buyers and lenders. It creates new penalties for, and promises aggressive enforcement against, licensees who fail to fully represent or protect buyers as the process proceeds.

Our presentation advises licensees on what experts say they should consider as best practices to ensure compliance with RESPA and the bureau’s program. It offers guidance on avoiding traps and pitfalls that represent potential RESPA violations. It provides a checklist of actions meant to ensure the home buyer client’s settlement experience is easily understood, and moves as pleasantly and quickly as possible.

Course State Approval: Continuing education for Pennsylvania real estate broker and salesperson license renewal.

This is a one-day, 7-hour, live classroom course consisting of two state-approved topics. No post-course exam is given. It is approved by, and meets 7 hours of continuing education requirements set by, the Pennsylvania State Real Estate Commission. It can be combined with other courses to fulfill all 14 hours of continuing education required by the Commission for a real estate salesperson’s or broker’s biennial license renewal during the 2014-2016 cycle that ends at midnight on May 31, 2016.

Price: $75

Student Material: This course may be accompanied by in-class materials distributed by Polley Associates.

Related:

• PA Continuing Education: What’s That Course About?
• PA Continuing Education: Live Course Attendance
• PA Continuing Education: License Renewal And Reactivation
• PA Continuing Education: License Renewal Online
• PA Continuing Education: First-Timer Requirements
• PA Continuing Education: Re-Activate A License In Escrow

Find Courses For:

• Pennsylvania Real Estate Salespersons and Brokers CE
• Pennsylvania Real Estate Salespersons’ First-Timer CE
• CE For Pennsylvania Commercial Real Estate Practitioners

The post Polley Courses: ‘Ethics, Your Promise Of Professionalism; and What Lurks Beneath’ appeared first on Polley Associates School of Real Estate.

This course starts by taking a close look at mortgage fraud in real estate transactions, including the history of mortgage fraud and its impact on consumers. It examines participants in fraud cases, as well as the role of agencies in monitoring fraud. Then it identifies various types of mortgage fraud schemes and mechanisms involved, as well as identify red flags to watch for.

The second portion focuses attention on consumer protection and its role as it relates to mortgage advertising.

Finally, the course wraps up with a look at reverse mortgages by identifying the types, requirements, payment options, and providers as they relate to consumers and the law.

Course State Approval: Continuing education for Pennsylvania real estate broker and salesperson license renewal.

This is a one-day, 7-hour, live classroom course consisting of three state-approved topics. No post-course exam is given. It is approved by, and meets 7 hours of continuing education requirements set by, the Pennsylvania State Real Estate Commission. It can be combined with other courses to fulfill all 14 hours of continuing education required by the Commission for a real estate salesperson’s or broker’s biennial license renewal during the 2014-2016 cycle that ends at midnight on May 31, 2016.

Price: $85

Student Material: This course may be accompanied by in-class materials distributed by Polley Associates.

Related:

• PA Continuing Education: What’s That Course About?
• PA Continuing Education: Live Course Attendance
• PA Continuing Education: License Renewal And Reactivation
• PA Continuing Education: License Renewal Online
• PA Continuing Education: First-Timer Requirements
• PA Continuing Education: Re-Activate A License In Escrow

Find Courses For:

• Pennsylvania Real Estate Salespersons and Brokers CE
• Pennsylvania Real Estate Salespersons’ First-Timer CE
• CE For Pennsylvania Commercial Real Estate Practitioners

The post Polley Courses: ‘Mortgage Fraud, Consumer Protection and Reverse Mortgages’ appeared first on Polley Associates School of Real Estate.

Little else says “close” like dollar bills on the barrelhead. Most sellers will gravitate toward an all-cash deal because they won’t have to wait out financing approval, or risk more time on market if financing falls though.

Don’t let your buyers be discouraged, Massachusetts real estate veteran Bill Gassett says. In a blog article published Tuesday (May 27, 2014), he suggests six different ways to counter, and maybe beat outright, an all-cash offer.

Read “How to Beat a Cash Real Estate Offer For The Perfect House,” written by Bill Gassett for Maximum Exposure Real Estate, here.

Photo from Maximum Exposure Real Estate

The post Little Beats An All-Cash Deal, But Try These Tips appeared first on Polley Associates School of Real Estate.

Rose has more than 20 years of experience in the mortgage industry, and most recently worked at GMAC, where he was responsible for branch expansion in North Carolina. He previously was regional sales director for SunTrust Mortgage, where he built sales volume to $400 million per year in the North Carolina region.

“Adding Joel to our team creates an immediate impact for all of our branches and our future expansion goals into other markets,” according to GMH President Karen Bausman. “(It) helps us continue our positive growth outlook for the end of 2012 and the beginning of 2013,” she added.

GMH Mortgage is currently licensed in 14 states including Pennsylvania, New Jersey and Delaware.

Photo from Clipart.com

The post GMH Mortgage Names Rose As Eastern Sales Vice President appeared first on Polley Associates School of Real Estate.

Mortgage interest deductions help “many families become home owners by reducing the carrying costs of owning a home,” Yun contended in his response. “The ability to deduct the interest paid on a mortgage can mean significant savings at tax time,” he wrote.

• Read Yun’s entire response, titled “NAR Letter to the Editor: Who Really Benefits from the MID,” here.

Photo from Google Images

The post Mortgage Interest Deductions Help Homeowners, NAR Replies appeared first on Polley Associates School of Real Estate.

• Read the article, titled “Results of mortgage probe expected in 2011,” here.

The post Mortgage Service Practices Probe Results Expected In 2011 appeared first on Polley Associates School of Real Estate.

• Read the full story, published at the Pennsylvania Attorney General’s website, here.

The post Got A Foreclosure Complaint? Let Attorney General Know appeared first on Polley Associates School of Real Estate.

The two latest pieces of legislation were spurred by a case in Berks County PA, Philadelphia’s KYW-AM Newsradio reported. Homeowners there were defrauded by a mortgage broker who took payments but never passed them on to lenders.

One of the new laws ensures that all communications regarding a loan go from lenders to homeowners, and not just go-betweens or third parties. The other protects mortgage company employees who blow the whistle on illegal practices.

This article was originally published on the Polley Associates‘ blog

The post Gov. Rendell Signs Two New Mortgage Bills Into PA Law appeared first on Polley Associates School of Real Estate.

On Friday (May 22, 2009) it issued a cease-and-desist order against U.S. Mortgage Group Inc., 1617 John F. Kennedy Blvd., Philadelphia PA, and suspended its license, because it allegedly refused to answer questions about or provide documentation on activities of an affiliate.

The department wanted to see financial information, information on withdrawn or denied loans, credit bureau invoices, annual reports and information related to U.S. Mortgage Mod LLC, which specializes in mortgage modifications. Instead, its examiner was escorted from U.S. Mortgage Group’s building, the department said.

Mortgage modification and debt settlement companies offer to help struggling homeowners lower their mortgage payments and borrowers eliminate their debt for a fee.

A day earlier, on Thursday (May 21, 2009), the department ordered six out-of-state mortgage modification companies to end unlicensed business activities in the state. The companies advertise on Web sites to refinance mortgages in Pennsylvania as part of a loan modification process, but they are not licensed to do so, the department said.

Affected were:

• ApplyLoanMod.com, California
• ClearHomeRelief, California
• HomeForeclosureFighter, California
• U.S. Loan Assistance Center, California
• Mortgage Solutions Clearing House, Florida
• American Foreclosure Specialists, Oklahoma

This article was originally published on the Polley Associates‘ blog
Image from Clipart.com

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