Tag Archives: real estate ce

Three Charged In Connection With $18.5 Million Mortgage Modification Scheme

canstockphoto5220295 handcuffs white collar crime  (Jeff Sorg, OnlineEd) Preet Bharara, the United States Attorney for the Southern District of New York, and Christy Romero, Special Inspector General of the Troubled Asset Relief Program (“SIGTARP”), announced charges against PED ABGHARI, also known as “Ted Allen,” DIONYSIUS FIUMANO, also known as “D,” and JUSTIN ROMANO for a mortgage modification scheme that defrauded over 8,000 homeowners in all 50 states out of over $18.5 million. Each defendant is charged with wire fraud and conspiracy to commit wire fraud. ABGHARI and FIUMANO were arrested this morning in Irvine, California, and are expected to appea today in federal court in Los Angeles. ROMANO was arrested this morning in Blue Point, New York and is expected to appear today in Manhattan federal court.

“As alleged, these defendants preyed on thousands of homeowners struggling to make their mortgage payments and meet their financial obligations. This Office has zero tolerance for those who target and exploit financially vulnerable people, and we will continue to work to hold these and like-minded defendants accountable,”  said Manhattan U.S. Attorney Preet Bharara.

The Special Inspector General for TARP, Christy Romero, said “Earlier today, SIGTARP special agents arrested Abghari, Fiumano, and Romano after our investigation with the U.S. Attorney’s Office uncovered an alleged massive, nationwide mortgage modification fraud scheme that purportedly targeted homeowners behind on their mortgage payments who simply wanted help from TARP’s housing program, HAMP. The defendants are alleged to have stolen more than $18.5 million from more than 8,000 struggling homeowners by making empty promises that the homeowners would be preapproved for lower mortgage payments through HAMP. This was all a purported ruse used to trick vulnerable homeowners into paying the defendants thousands of dollars in up-front fees for which zero meaningful work was ever actually done. SIGTARP has aggressively pursued these allegations, working closely with Preet Bharara’s office, to protect homeowners in New York and across our nation from becoming victims of this crime and to bring perpetrators to justice.”

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 This article was published on August 8, 2014. All information contained in this posting is deemed correct and current as of this date, but is not guaranteed by the author. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

For more information about OnlineEd and their education for real estate and mortgage brokers, visit www.OnlineEd.com.

OnlineEd® Real Estate Continuing Education Now Available in West Virginia – Save 50%

canstockphoto12396834 50 per cent discountWest Virginia real estate licensees can save 50% off catalog pricing using discount code: WVRECE-SAVE-50%

(OnlineEd®) – Premier education provider, OnlineEd®, is now offering continuing education for West Virginia real estate license renewal under Approved Provider Number 21022.

OnlineEd® has been offering online real estate, insurance, mortgage, and contractor licensing training since 1999 from their web site at www.OnlineEd.com. Each West Virginia real estate course was rigorously reviewed by the Association of Real Estate License Law Officials (ARELLO) and approved by the West Virginia Real Estate Commission.

The OnlineEd West Virginia course catalog contains such courses as:

  • Buyer Agency (4 hours)
  • Risk Management (4 hours)
  • Environmental Issues, Part 1 (3 hours)
  • Environmental Issues, Part 2 (3 hours)
  • Ethics (3 hours)
  • Fair Housing (3 hours)

As an introductory offer, and for a limited time, OnlineEd® is offering a 50% savings off their regular catalog pricing by entering code: WVRECE-SAVE-50% at checkout.

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 This article was published on April  14, 2014. All information contained in this posting is deemed correct and current as of this date, but is not guaranteed by the author. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.

For more information about OnlineEd and their education for real estate brokers, visit www.OnlineEd.com. OnlineEd is West Virginia Approved Approved Education Provider No. 21022.

Important Advertising Points for Oregon Real Estate Licensees

Oregon’s definition of advertising by real estate licensees includes all forms of representation, promotion, and solicitation

[This article was last updated on July 5, 2019]

(Jeff Sorg, OnlineEd) – Oregon’s definition of advertising by real estate licensees includes all forms of representation, promotion and solicitation disseminated in any manner and by any means for any purpose related to professional real estate activity, including advertising by mail; telephone, cellular telephone, and telephonic advertising; the Internet, E-mail, electronic bulletin board and other similar electronic systems; and business cards, signs, lawn signs, and billboards. Here are some important points to remember when advertising:

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  • The licensee cannot lead the public to believe they have a level of expertise greater than they have.
  • The licensee cannot claim or imply a license status other than the one they hold.
  • All advertising must be truthful and cannot be deceptive or designed to mislead.
  • The written permission of the property owner is required to advertise the owner’s property.
  • Advertising property must be identified as the advertising of a real estate licensee.
  • When the licensee’s name is used in advertising the licensed name or registered business name of the principal real estate broker or property manager must be prominently displayed, immediately noticeable and conspicuous.
  • The licensee must submit all proposed advertising to the principal broker for review and approval before publicly releasing the advertising.
  • The licensee is required to keep a record of principal broker approval of advertising and to make it available to the REA upon request. The burden of maintaining advertising records and proving compliance is with the licensee.
  • The licensee does not have to obtain principal broker prior approval to advertise a personal property for sale, if the property is not listed with the principal broker. Personal real estate advertised for sale must disclose that the property owner is a real estate licensee.
  • The principal broker is responsible for all advertising that arises from his/her brokerage. The principal broker must review and approve all advertising or delegate direct supervisory authority and responsibility for advertising originating in a branch office to the principal broker who manages that office.
  • Advertising includes electronic media or communication such as e-mail, Web pages, bulletin board, e-mail discussion groups, blogs, Facebook, LinkedIn, Twitter, Craigslist, and any other social networking site. Also, the first page of the electronic communication must contain the licensee’s licensed name, the principal broker’s licensed or registered name, and a statement that the licensee is a licensee in the State of Oregon. Sponsored links on a search engine are exempt from this rule because the search link is outside of the control of the licensee. As long as the first e-mail communication contains the necessary disclosure relating to license status and identification of the principal broker, subsequent email communications are exempt from this rule.
  • No advertising may guarantee future profits.
  • Team advertising is permitted as long as the “team name” used does not constitute an unlawful use of a trade name or is similar to another name under which another person is legally authorized to do business. The team or group must include at least one licensee, and all licensee members of the team must be associated with the same principal broker.

NOTE: Sponsored links on a search engine are not considered advertising and are exempt from these rules because the search link is outside of the control of the licensee.

NOTE: Some real estate firms have entered into agreements with each other to interchangeably advertise properties. Many of these authorizations permit a broker to display or advertise the listings of other brokers over the Internet according to the rules of the member’s MLS system. This is commonly referred to as IDX or Internet Data Exchange. The licensee should check with their principal broker to make sure an agreement exists before advertising properties not listed by that licensee or licensee’s firm.

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For more about OnlineEd® or to visit their Oregon real estate education catalog, please visit www.OnlineEd.com.
OnlineEd® is Oregon Real Estate Agency Certified Education Provider No. 1038