The Real Estate Settlement Procedures Act (“RESPA”) is a series of federal consumer-protection statutes that impose rules upon all of the professions involved in an activity relating to a real estate settlement involving a federally related mortgage loan. The State of Colorado has adopted laws and regulations governing real estate brokers that impose similar rules. … Continue Reading
Homeowners that purchased a home with joists installed after December 1, 2016 are being rapidly removed to alternate housing or have had their closings delayed due to Weyerhaeuser joists that are coated with formaldehyde. The contaminated joists are the TJI ® Joists with Flak Jacket ® Protection. On July 18, 2017, Weyerhaeuser issued a statement … Continue Reading
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