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Mar 2006
Index of all
messages
from the Association President
Colorado REALTOR® Political Happenings…
By Kim Enomoto
As your president, I promised to keep you apprised of political happenings. We’ve had a boatload of meetings in the past few weeks, each detailing important political issues in the industry.
From Feb. 2 – 4, many REALTORS® were at Region 11 meetings in Sante Fe. REALTOR® Day at the Capitol took place Feb. 7, and the Colorado Association of REALTOR® Winter Meetings rounded out a full political agenda Feb. 8 and 9.
Here are some CliffsNotes of some of the important updates. Detailed information on all these bills can be retrieved in their entirety from the legislative website at www.leg.state.co.us.
Lender regulation – House Bill 06-1161
On Jan. 18, 2006, House Bill 06-1161 was passed to the Business Affairs and Labor + Appropriations committee. This is the third time this bill has been introduced to the House. In two past attempts, legislation to license lenders has not made it into law.
This time, Rep. Valentin Vigil(D) and Rep. Tom Massey (R) are asking for "Mortgage Broker Registration". This registration would be required every three years, much like REALTOR® licensing. The registration would be handled by the Department of Regulatory Agencies(DORA), the same agency that handles REALTOR® licensing. The Colorado Association of Mortgage Brokers (CAMB) has been very instrumental in writing this bill. Some of the requirements of the bill include:
· Registration every three years
· Applicants for registration to undergo a criminal background check
· Applicants to post a bond of $100,000 or maintain malpractice insurance
· Complaints to be handled by DORA
These actions may not be full licensing of lenders, but it is a tremendous step forward and I applaud the fantastic and continued work of Vigil and Massey and the CAMB. With help from all of you, we have a good shot at making this a reality this year. Legislators who spoke to us at REALTOR® Day stated that the best thing we as REALTORS® could do would be to e-mail, fax or mail our representatives to urge them to vote "yes" on this bill.
To easily find the name of your Colorado representative and/or senators, go to www.vote-smart.org. Enter your zip code for a complete list of those who represent you. Please take a moment to obtain this information, then click on the legislators who represent you and send them an e-mail urging them to support Reps. Vigil and Massey in voting YES on House Bill 06-1161!
HOA Clean Up – Senate Bill 06-089
Senate Bill SB06-089 cleans up and clarifies Senate Bill 100 regarding Homeowners Association (HOA) information that was mandatory as of the first of the year. This bill covers more than just the HOA documents we deal with as REALTORS®. Reading the first couple of pages of this 15-page document will summarize that information for you.
Surface Rights – House Bill 06-1185
This legislation requires the Oil & Gas ConservationCommission to consider, with due regard, the interests of the surface owner. This legislation establishes a level playing field for surface owners to negotiate surface use agreements with oil and gas operators.
CAR has worked to amend the original version of HB 1185, including lost land values that result from drilling operations. The legislation modifies bonding and notice requirements and establishes guidelines for compensation for damages directly caused by disturbance of surface for the conduct of oil and gas operations that occur to the surface property and improvements.
Accomplishments
Here are some of the things that were accomplished in 2005 on a national level and a few more reasons why contributing to the Political Survival Fund (PSF) is so very, very important!
Banks in real estate NAR secured another one-year prohibition for the fiscal year 2006, which President Bush signed in November. This means banks won’t be permitted to enter the real estate business for another year. The prohibition is in effect until Sept. 30, 2006.
Do-Not-Fax NAR-backed legislation was approved by congress and signed into law July 9, 2005, protecting REALTORS® from unfair and costly changes to their marketing practices. This means REALTORS®, without written agreements, will not incur significant fines and penalties if they send faxes to clients with whom they have a longstanding “established business relationship”.
Health insurance NAR secured enactment by the U.S. House of Representatives legislation permitting associations like NAR to make health insurance available to their members, and is making important headway in the Senate to consider similar legislation. This means that for the first time, Senate leaders who have routinely ignored this legislation are working with each other and with insurance providers and small business organizations to craft a bill for consideration in 2006.
Disaster assistance for small businesses – NAR successfully advocated changes to the Small Business Administration’s Economic Injury Disaster Loan program to provide real estate licensees access to the program. This means that licensees may now apply for loans from SBA’s disaster loan program to recover from disaster related damages.
RESPA – In conjunction with launching its RESPA Awareness Campaign, which provides compliance guidelines and information relating to RESPA requirements, marketing agreements and affiliated business arrangements, NAR participated in multiple Department of Housing and Urban Development (HUD) roundtable meetings. This means that REALTORS® will have a significant voice in HUD’s renewed effort to reform the RESPA regulations.
The next time you run across a director of CAR, NAR, the MLS, or the Aurora Association of REALTORS®, shake their hand and say thank you. These people put in a lot of work in on your behalf. I think the directors of our organization will all agree that although they are not paid in a monetary way, the rewards of making sure our membership is well informed is very gratifying. If you have an interest in being a part of something great, please contact me via our website at www.aurorarealtors.org. I’d love to help you get involved.
Please send thoughts, comments and concerns to
Kim.Enomoto@ColoradoHomes.com.
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