CFPB rule making is changing how we do business in all areas of financial real estate when financing is involved.
The latest news is that the Florida Bar / Florida Association of Realtors will be using new residential real estate form contracts for residential financed transactions beginning in late September 2015. The new forms and rules kick in for any deal that has the borrower making its application for financing on or after October 3rd.
Do you know what the forms are and how they are different? Do you know why they are different? Do you know that on deals made after October 3, the closing statement is now called a closing disclosure and looks like a HUD about the same as a Vespa motor scooter looks like a Harley Davidson Chopper?
Do you know that under the new rules you cannot be in the same room as your client for the closing?
Learn about some of these changes and a focus on the new contract forms at seminar presentations in our office over the next several weeks. Don't be a victim of not knowing how to guide your buyer through this new process. Understand the new timing rules and what can and cannot be done on timelines
Call for availability - 561 478 5000 and ask for Cecelia to schedule your slot. Individual and Small groups of real estate brokers and agents only!
Let's learn together on this monumental new way of doing business under Dodd Frank!