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NAR's Hard Work Pays Off With Success to Members and Homeowners!

REALTORS® have reason to celebrate today as legislation easing restrictions on FHA financing for condominiums is finally signed into law,” says NAR President Tom Salomone. “This is a long-awaited victory for NAR and for home buyers for whom condos are an important and affordable option.”

The bill will make Federal Housing Administration’s recertification process “substantially less burdensome” and will lower FHA’s owner-occupancy requirement from 50 percent to 35 percent, NAR has reported. The bill also requires the FHA to replace an existing policy on transfer fees with a less-restrictive model that has already been in place at the Federal Housing Finance Agency.

This legislation will help offer to relief to well-qualified potential home buyers who have been facing tight housing inventories, rising home prices, and strict mortgage credit underwriting guidelines, Salomone has said.

 
 
 
 
 

NAR has been actively engaged in the implementation of the “Know Before You Owe” also known as the TILA-RESPA Integrated Disclosure rule by the Consumer financial Protection Bureau (CFPB). Feedback from REALTORS® across the nation highlighted the reluctance of lenders to share the new mandated Closing Disclosure (CD) with real estate professionals. 
 
Lenders have been refusing to share the CD citing potential privacy violations of the Gramm-Leach-Bliley Act (GLBA) or Regulation P. However, an exception to Regulation P already allows lenders to distribute the CD to third parties, including real estate professionals. 
 
CFPB affirmed the Regulation P exception by including the following language in the recent TRID proposed rulemaking: 
“Based on its understanding of the real estate settlement process, the Bureau understands that it is usual, appropriate, and accepted for creditors and settlement agents to provide the combined or separate Closing Disclosure as a confirmation, statement, or other record of the transaction, to consumers, sellers, and their agents, or information on the status or value of the financial service or financial product to their customers or their customers’ agents or brokers.”

For additional information on this important regulatory victory click here.

Download the NAR Issue Brief here.

 
 
 
 
 

When: Thursday, September 22, 2016, 12:00 PM - 2:30 PM

Where: RealSource, 5 Franklin Tpke, Waldwick

Don't miss the fun as we celebrate our members! FREE to All Members of RealSource!

BBQ Buffet, Games and Fun featuring our Affiliate Chili Cook off!

Order Tickets Now!
 
 
 
 
 

When: Wednesday, August 17, 2016, 6:30 PM 
Where: Yogi Berra Stadium, 27 Clove Rd., Little Falls
Includes BBQ Buffet, Unlimited Beer (until the 7th inning stretch), and box seats! 

Sponsored by:
Home Runz Sponsor: Walk This House


Cost: $22.09
 
 
 
 

Dueling Pianos Presented by the RPAC Committee
When: Thursday, October 13, 2016, 6:30 PM - 9:30 PM
Where: Biagio's Ristorante, 299 Paramus Rd., Paramus
Don't miss the fun! Includes Buffet and fabulous entertainment! Registration will open soon!

Annual Membership Meeting
When: Friday, October 28, 2016, 8:30 AM - 11:30 AM
Where: NEW Location! Sheraton Hotel, 1 International Blvd, Route 17 North, Mahwah
Speaker will be announced shortly. Voting for the 2017 RealSource Officers will take place at the meeting, your vote counts!

Registration information for these events will be available soon.
 
 
 
 
 

New Classes Added for Fall!! Check out our calendar to view all the classes added for this fall!


Friday, September 23, 2016, 9:30 AM - 12:30 PM
CE: Review and Updates of the REALTOR® Code of Ethics - 3 Ethics Credits

Instructor: Isabelle Perkins
Cost: $15.00

Friday, September 23, 2016, 1:30 PM - 4:30 PM
CE: Learn to Successfully Negotiate to Protect Your Clients - 3 Elective Credits

Instructor: Isabelle Perkins
Cost: $15.00

Wednesday - Thursday, September 28 - 29, 8:30 AM - 5:00 PM both days.
SRS Designation (Seller Representative Specialist) - 6 Ethics Credits + 6 Elective Credits
Instructor: Diane Disbrow
Cost: $294.00


Don't forget to check out the available online courses that offer CE credits:
From New Jersey REALTORS® - Log In
From the CE Shop - Log In
 
 
 
 
 

Wednesday, August 31, 2016 from 10:00 AM to 11:30 AM
Social Media Marketing - Blogging
Where:
 RealSource, 5 Franklin Turnpike, Waldwick
Register Now!

 
 
 
 
 

Make a lasting impression at RealSource by having your name written in stone!

Connect a path to supporting the profession with a life-long paver celebrating your success.

Click here to download your order form!  Orders can be mailed to or dropped off at the RealSource office with your check.
 
 
 
 
 

Diana Allen to Terrie O'Connor-Saddle River
 
 
 
 

Here's how your complimentary InmanSelect subscription will help make your job easier: 

- Help you interpret the effect industry changes and trends will have on your business
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- Grow your sphere of influence and network of business partners

Another complimentary benefit of your membership with RealSource. 
 
 
Register for FREE Now!
 
 
 

RealSource hosts monthly, the 75-hour Salespersons' course required to take the state licensing exam.  Classes are presented by the American School of Business.  

If you're looking to build your team, or know someone who's interested they can register online 
at www.americanschoolnj.com or call 1-800-288-5154.

CLICK HERE for a coupon worth $50 off the price of the Salespersons' course!
 
 
 
5 Franklin Turnpike Waldwick, NJ 07463
Phone: 201-444-3100  |  Fax: 201-444-6368  |  Email:
info@realsource.org