Co-Author: Peter G. Sotiropoulos Part I: Brief Overview This article addresses the effects of the “Dodd-Frank Wall Street Reform and Consumer Protection Act” (“Dodd-Frank”) on the compensation of mortgage originators (defined below). This, Part I, provides a brief overview of the new regulations, while Part II discusses specific compensation options for brokerage companies. Dodd-Frank is a … Continue Reading
Co-Author: Peter G. Sotiropoulos Part II: Questions and Answers about Lender-Paid Compensation Question 1: May a brokerage company contract for different compensation arrangements with different lenders? Yes, as long as the company pays its mortgage originators in a certain way. Pursuant to Dodd-Frank, Title XIV, Section 1403, “for any residential mortgage loan, no mortgage originator shall … Continue Reading
What is a zoning variance? A zoning variance is a deviation from the standard zoning regulation. In Colorado, municipalities recognize that the strict, literal enforcement of zoning regulations may not always make sense. For this reason, Colorado law requires that counties, cities and towns each form boards of adjustment consisting of a panel of … Continue Reading
Co-Author: Peter G. Sotiropoulos In Augenstein v. Coldwell Banker Real Estate LLC, decided on August 30, 2011, a federal district court held that a brokerage firm violated Section 8(b) of the Real Estate Settlement Procedures Act of 1974 (“RESPA”) by charging a client $199 plus three percent of the purchase price for sale and settlement services. … Continue Reading
Considerations Before Walking Away From a Mortgage. The Denver Post recently published an op-ed piece entitled “The Wisdom of Walking Away from Your Mortgage,” which encourages homeowners who owe more on their property than it is worth to consider simply walking away from their mortgage(s). This article, and others like it that suggest walking away … Continue Reading
Hiring an Attorney to Go Through the Divorce or Custody Legal Process You may be asking yourself whether you should hire an attorney for your divorce or custody case. Consulting with an attorney is important to protect your legal rights. You may believe that you don’t need any legal advice because you and your spouse … Continue Reading
Divorce Lawyer Handling Divorce Cases on a Statewide Basis If you were suffering from a cardiac problem and needed a cardiologist to help with an ongoing process, would you choose the one closest to your house simply because it’s easy to get to his or her office, or the one who comes highly recommended and … Continue Reading
Co-Author: Mike Smeenk, Esq. At various times during the Great Recession and its aftermath, different economists have estimated that approximately 25% of American households with mortgages are “upside down.” That is, for approximately 25% of American households with mortgage debt, the debt exceeds the property’s fair market value. While these percentages vary from place to … Continue Reading
The strategies for commercial real estate loan workouts tend to be dramatically different than the considerations for most homeowners who are considering walking away from their home. Conventional wisdom gleaned from residential walk-aways does not cleanly apply to commercial defaults. While each case is different, homeowners tend to walk away from their home only … Continue Reading
It’s a concrete case. A former employee may be stuck with an agreement that he had signed while working for his former employer, restricting his right to later go to work for a competitor. In a recent case, Lucht’s Concrete Pumping, Inc. v. Horner,(E1) the Colorado Supreme Court decided whether an employer’s continuation of … Continue Reading
