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Your Friendly Neighborhood Regulator

Posted on June 14, 2017
Consumer Awareness, General, REALTOR® News

Your Friendly Neighborhood Regulator   [caption id="attachment_22650" align="alignnone" width="245"] Scott Petersen, General Counsel, Colorado Association of REALTORS®[/caption]   In addition to fantastic looks and winning personalities, REALTORS® can always be counted on for a rapid fire string of acronyms. NAR, CAR, GRI, CCIM, CMA, FSBO, CRS, e-PRO, RELO, ABR, CNS, CPM, CBR, REO, LTV… Ok, I’ll stop.  At this point, most of you are...

CFPB Officially Extends TRID Implementation to Oct. 3rd

Posted on July 23, 2015
General, Local Association, NAR, REALTOR® News

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...

CFPB Proposes Delay of Implementation of TRID to Oct. 1st

Posted on June 18, 2015
Consumer Awareness, General, Government Affairs, NAR, REALTOR® News

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...

Grace period Announced for TILA-RESPA Requirements

Posted on June 3, 2015
Government Affairs

Consumer Financial Protection Bureau (CFPB) announced that it would be “sensitive” to companies that make a good-faith effort to comply with the new Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure (TRID) regulation that goes into effect on August 1, 2015.   This is a welcome development that can be compared to the effective CFPB implementation of...

New TILA-RESPA Disclosures

Posted on April 14, 2015
General

As the requirements of the 2010 Dodd-Frank Act continue to be implemented throughout the country, most Colorado REALTORS® have a basic familiarity with the new federally mandated mortgage loan disclosures that will be required be-ginning August 1st of this year. The Consumer Financial Protection Bureau (CFPB), an independent federal agency with oversight of the US financial industry, was created by the...

Thank You for Protecting Our Country

Posted on November 11, 2014
General, NAR

Colorado Association of REALTORS® salutes all of the men and women of the United States military who unselfishly serve or have served this country!   Thank you! REALTORS® can also celebrate veterans this week as a celebration of 70 years of VA Home Loan benefits. The news release below from the National Association of REALTORS® describes the VA Home Loan history as...

NAR Government Affairs Update

Posted on June 11, 2014
Government Affairs, NAR

NAR Government Affairs has been closely monitoring the implementation of rules by the Consumer Financial Protection Bureau (CFPB).  As part of the implementation of the Qualified Mortgage (QM) regulations, CFPB included in the 3% cap on fees and points, amounts paid to affiliate title companies and insurance escrows when there is an affiliate involved in the transaction.   Unaffiliated charges...

Capitol Connection: March 28, 2014

Posted on March 28, 2014
Government Affairs

HB 1136 Passes the Senate on Third Reading CAR sponsored HB14-1136, Concerning exempting a continuing professional education program that is approved by a state professional licensing board from regulation by the division of private occupational schools in the department of higher education, passed third reading in the Senate and is waiting for the Governor’s signature.  CAR is running this piece of...

Capitol Connection: February 14, 2014

Posted on February 14, 2014
Government Affairs

Registration for REALTOR® Day Still Open! Please view a video invitation from Jeffrey Martin, 2014 Government Affairs Division Vice President, with information about key events at REALTOR® Day.  Don't miss the 2014 REALTOR® Day at the Capitol on Wednesday, February 26th at the McNichols Building and the State Capitol. Based on feedback received from local leadership, we have revamped this event...

Are the New CFPB Rules Affecting Your Business?

Posted on February 13, 2014
Consumer Awareness, Professional Development

The CFPB’s (Consumer Financial Protection Bureau) new Ability-to-Pay Rule took effect on January 10, 2014. This new rule amends regulation Z under the authority of the Dodd-Frank financial industry reform. It requires mortgage lenders to consider consumers’ ability to repay home loans before extending them credit. There is also a category of loans, called “qualified mortgages,” that limit how much home buyer’s income can go toward debt. How...

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About CAR

The Colorado Association of REALTORS® is the state’s largest professional, voluntary, non-profit, real estate trade association that is dedicated to serving more than 30,000 REALTOR® members across the state. Read More

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