October 2, 2015
Source: www.realtor.org

By William Gilmartin, Marcia Salkin

The new TILA-RESPA Integrated Disclosure (TRID) rules for mortgage closings took effect for new loan applications on October 3.  The Director of the Consumer Financial Protection Bureau, on behalf of the six federal financial regulatory agencies, provided written assurances that the early enforcement of the new rules will take into account the good faith efforts of supervised entities.  The letter coincides with Director Cordray’s testimony on September 29 before the House Financial Services Committee that early enforcement efforts would be corrective and not punitive for a period of several months.

This letter is the result of NAR’s joining with numerous industry partners to request this written assurance so that lending institutions can proceed with closings under the new rule in a timely manner.

by Bill Clarke & Nathan Gorton | WA REALTORS® | Aug 25, 2015
Island County real estate brokerages are pleased that a Skagit County Superior Court judge recently dismissed a lawsuit against real estate firms asserting non-compliance with Island County’s noise disclosure ordinances.  The Court determined that the disclosure provided in real estate transactions was adequate to notify prospective buyers of the existence of noise from Navy jets based at Naval Air Station Whidbey Island in Oak Harbor.  The plaintiffs in the case sought to create a class action lawsuit against real estate brokerages for transactions dating back many years.
Washington REALTORS® supported Island County real estate brokerages in organizing a defense against the lawsuit, and assisted the North Puget Sound Association of REALTORS® in explaining this issue to the public.  “We provided a disclosure that stated ‘there is significant aircraft noise.’   Both plaintiffs in this case signed this disclosure.  Our members will continue working with Island County to ensure that adequate disclosure occurs.  We greatly appreciate Washington REALTORS® assistance with this issue,” said Eric Mitten, broker and owner with Windermere Real Estate, one of the defendants in the case.

The Communications Committee is seeking nominations for a new monthly award to promote Realtor Awareness within the community.
Award winners for each month will have their photo and bio appear on our RE Weekly ad space!
You can nominate an associate, or nominate yourself!
How does your nominee demonstrate community spirit? We want to share it!
Please see the nomination form for more information. We will be reviewing all nominations monthly at our Committee meeting. You don’t need to resend your nomination each month, but you may ‘update’ a nomination at any time.

We hope to hear from you soon!
The Communications Committee

More Articles...

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  4. Water Availability for Skagit Basin Landowners
  5. Interactive WA Flood Map
  6. Skagit County Agriculture Impact

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