Category Archives: Nevada Real Estate

How Real Estate Brokers Can Train for TRID Before the October 3rd Deadline

Free online orientation and training course for real estate agents who still need to get ready for October 3, 2015 TRID (Jeff Sorg, OnlineEd) – When it comes to TILA-RESPA Integrated Disclosure, training is key for your real estate company’s successful transition, and to avoid delayed closings. To help get you up to date, OnlineEd is offering an […]

CFPB and Other Agencies Issue Final Standards for Assessing Diversity Policies and Practices of Regulated Entities

(Jeff Sorg, OnlineEd) – Federal agencies today issued a final interagency policy statement establishing joint standards for assessing the diversity policies and practices of the entities they regulate. Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) required the Federal Reserve Board, the Consumer Financial Protection Bureau, the […]

Down Payments at 3-year Low Indicating First Time Buyers Enter Marketplace

IRVINE, Calif. – June 4, 2015 — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its Q1 2015 U.S. Home Purchase Down Payment Report, which shows the average down payment for single family homes, condos and townhomes purchased in the first quarter was 14.8 percent of the purchase price, down from 15.2 percent […]

3 Things in The New Mortgage Disclosure Rule That Will Delay Closings

(Jeff Sorg, OnlineEd) – There’s a lot of misinformation circulating about how the new mortgage disclosure three-day rule is going to delay real estate closings. While this could happen, it’s not as bad as it sounds. Here are the three things that could delay your closings: The APR (annual percentage rate) increases by more than 1/8 of a […]

CFPB Orders RPM Mortgage to Pay $19M for Steering Consumers to Costlier Mortgages

The Consumer Financial Protection Bureau (CFPB) filed a complaint in federal district court against RPM Mortgage, Inc. and its CEO, Erwin Robert Hirt, for illegally paying bonuses and higher commissions to loan originators to incentivize them to steer consumers into costlier mortgages. The CFPB also filed a proposed order that, if entered by the court, […]

Court Rules Real Estate Agents Can Continue to be Independent Contractors

(Jeff Sorg, OnlineEd) – The Massachusetts top court ruled today (June 3, 2015) that real estate brokerages can continue to  hire real estate agents as independent contractors. The decision is a finding against a group of real estate agents who filed suit claiming they were treated like employees and should have been receiving hourly wages […]

CFPB and State of Florida Obtain $27.7 Million Judgment Against Foreclosure Relief Scam

WASHINGTON, D.C. — Today, the Consumer Financial Protection Bureau and the State of Florida were granted a final judgment against the Hoffman Law Group and corporate affiliates accused of using deceptive marketing practices and scamming distressed homeowners into paying illegal advance fees. Working together, five companies tricked consumers into paying millions of dollars in illegal upfront […]

Home Prices Up By 6.8% Year over Year, Says Corelogic® Report

(Jeff Sorg, OnlineEd) – CoreLogic® has released its April 2015 CoreLogic Home Price Index (HPI®). The nationwide index shows that home prices, including distressed sales, increased by 6.8 percent in April 2015 compared with April 2014. This represents 38 months of consecutive year-over-year increases in home prices. Excluding distressed sales, home prices increased by 6.8 percent in April […]

CFPB Files Against Provident Funding Associates for Discriminatory Mortgage Pricing

(Jeff Sorg, OnlineEd) WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) filed a joint complaint against Provident Funding Associates for charging higher broker fees on mortgage loans to African-American and Hispanic borrowers. The agencies also filed a proposed order that, if entered by the court, would require Provident […]

HUD & Associated Bank Reach $200 Million Settlement of Redlining Claim

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD)on May 26, 2015 announced an agreement with Associated Bank, N.A. (Associated) to resolve a disparate treatment redlining case, one of the largest redlining complaints brought by the federal government against a mortgage lender. At approximately $200 million, it is the largest settlement of this kind […]