The Consumer Financial Protection Bureau (CFPB) has issued a final rule moving the effective date of the TILA-RESPA Integrated Disclosures (TRID) rule (otherwise known as the Know Before You Owe mortgage disclosure rule) to Oct. 3, 2015. This after CFPB Director Richard Cordrday said that the CFPB would delay the effective date of the TRID rule until Oct. 1.The CFPB has issued...
REAL Trends announced the Real Trends America’s Best Real Estate Agents list this past Tuesday, which ranks the most productive agents by state and metropolitan area based on closed transaction sides and closed volume. To be included in the ranking, agents must have closed at least 50 transactions, compared with the industry average of seven, or $20 million in closed...
Criminals Hack Broker Emails to Scam Closing or Earnest Funds In the past two weeks, CTM Software and the Colorado Association of REALTORS® (CAR) has been made aware of several attempts to deceive real-estate agents and title company employees into wiring earnest money and/or closing funds into a fraudulent account. In a small number of cases, these criminals have been successful...
Online licensing management system cuts time and red tape for Colorado’s real estate industry professionals; database provides consumer information on licensees. This information was distributed by the Colorado Division of Real Estate, part of the Department of Regulatory Agencies (DORA). If you have any information on the article below, please contact the Division of Real Estate at 303-894-2424 or by visiting their...
The U.S. Supreme Court’s 5-4 decision on Friday not only opens the doors to legal same-sex marriage throughout the 50 states—it will also help increase homeownership among LGBT couples. “As with other momentous social landmarks, this progress will trigger key milestones along the path to homeownership,” Sherry Chris, CEO of Better Homes and Gardens Real Estate, said in a statement. She noted that the lesbian,...
Colorado ranks 8th in the nation among states with the most down payment programs, according to Q2 data released by Down Payment Resource. With 68 programs available, Colorado programs offer closing cost assistance grants, mortgage credit certificates, first mortgage loans, and other programs such as employer assisted housing programs. Down Payment Resource has increased to include three percent more programs; 87%...
On Wednesday, June 17th, the CFPB announced they would propose an amendment to delay the implementation of the TRID (TILA RESPA Integrated Disclosure) from August 1 to October 1st. The Consumer Financial Protection Bureau’s announcement means a two-month delay for the implementation of the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure regulation, also known...
Inventory Slowly Improving During First Five Months of 2015 Housing values continue to rise throughout the state according to statistics reported today by the Colorado Association of REALTORS®. Highlights of the Association’s May statistical reports include: The median price for a single-family home increased to $310,000, up 13 percent from a year ago and for a condominium or townhouse it rose 16...
Mark Trenka will be the Chair-elect for the 2015-2016 leadership year after a close run-off with fellow candidate Ann Hayes. "I am extremely proud of both candidates and the high level of professionalism they exhibited during the run off," said David J. Barber, 2015 CAR Chairman. To ensure the voting results were accurate, calculated in a fair manner and followed BOD approved CAR...
Denver had the second largest increase in annual homes prices with statistics showing this increase at 10%. This major increase on home prices and the lack of inventory are due to the legalization of marijuana in 2012. "The pot industry is creating jobs we didn't have before," said Kelly Moye, a Re/Max real estate agent who has worked in the Denver...