Money Laundering and Real Estate
This webcast discusses Money Laundering, more specifically the Dangers of Money Laundering and Inadvertent Money Laundering in Real Estate.
Brokerage Law
Dodd-Frank, Consumer Financial Protection & Owner Financing
What do Dodd-Frank and Consumer Financial Protection Bureau Regulations Mean for Owner Financing in Colorado? The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) introduced a host of new regulations designed to protect consumers and avoid another housing collapse. Key components of Dodd-Frank were designed to create greater certainty that borrowers can repay their … Continue Reading
Don’t Forget About FIRPTA
Foreign Investment in Real Property Tax Act (Updated: 11/29/17) The federal Foreign Investment in Real Property Tax Act (“FIRPTA”) attempts to reduce opportunities for foreign persons to avoid U.S. income tax on their sales of U.S. real property interests. For that purpose, FIRPTA generally obligates any person who buys a U.S. real property interest from … Continue Reading
Implications of Criminal Pleas on a Colorado Real Estate License
Question: I recently agreed to enter guilty plea to resolve certain criminal charges against me. What are the consequences to my Colorado real estate license? Answer: Agreeing to enter a plea of guilty or nolo contendere (no contest) to certain state and federal offenses can have important and lasting consequences on one’s Colorado Real … Continue Reading
Does My Client Need a License to Broker a Business Sale?
Co-author: Zakary A. Kessler The question of whether certain behavior requires a real estate license is not only a logical place to begin a presentation on real estate license law, it is an important topic for general real estate practitioners. Business brokerage is an area that frequently raises the issue of whether activity requires a … Continue Reading
Relevance of a Real Estate License
Co-author: Zakary A. Kessler Colorado first passed its license law statute in 1929.(E1) This author knows of no situation where, absent harm to a consumer, a person encountered litigation or criminal prosecution for the unauthorized practice of brokerage. In the 80 plus years in which Colorado has had real estate licensing law, the annotators of the … Continue Reading
Colorado License Law and Apartment Managers
What Functions May an Apartment Manager Perform Without a Real Estate License? It can be a complicated task to successfully navigate the maze of Colorado laws and regulations regarding what type of real estate functions, especially property management functions, require a real estate license. The laws and regulations themselves sometimes lack clear and specific requirements … Continue Reading
Supreme Court Rules: Section 8 Doesn’t Regulate Fee Amounts
The United States Supreme Court just made it easier for real estate brokers to charge flat fees and generally test the market with different fees structures. In a unanimous decision in the case of Freeman v. Quicken Loans, Inc., No. 10-1042, slip op. at 1 (May 24, 2012), the U.S. Supreme Court confirmed that … Continue Reading
Compensation of Mortgage Loan Originators Under the Dodd-Frank Act
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
Compensation of Mortgage Loan Originators Under the Dodd-Frank Act
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