We are noticing a few compliance issues when Division staff is conducting brokerage audits. This article will address these compliance issues to provide some guidance to the brokerage community regarding the Real Estate Commission’s expectations.

Learn about the Real Estate Commission’s expectations conducting brokerage audits.

MLO Rule Review - The Division, on behalf of the Board of Mortgage Loan Originators, is currently conducting a review of the administrative rules regarding mortgage loan originators and mortgage companies. As part of the rule review process, the Division seeks the participation and input from stakeholders regarding the existing rules as well as any proposed changes to the rules.

The Division is accepting comments through January 1, 2020.

Purging a Manufactured Home - The Division of Real Estate has recently received inquiries from both real estate professionals and consumers regarding the transfer of title concerning a manufactured home. While there are various steps to this procedure, each county in Colorado will be able to assist with this process

Take a few minutes to read this article and get caught up on what it means to “purge” and permanently affix a manufactured home to real estate.

Stakeholder Meeting Update - As per the Governor’s Executive Order, the Department of Regulatory Agencies, through the Division has conducted a comprehensive review of existing and potential laws and recommend strategies to promote effective and efficient regulation of Community Association Managers and Homeowners’ Associations, including hosting four stakeholder meetings for public input. The Division is currently developing its final report and recommendations for the Governor’s Office.

Find the stakeholder survey results, open-end responses, and meeting presentations here.

Colorado law for HOA communities favors resolution of disputes through using alternatives to filing a lawsuit in court. One of these alternatives is mediation.

Learn about the evolution of dispute resolutions and HOAs in Colorado.

On October 15, 2019, the Colorado Office of Policy, Research and Regulatory Reform, which is within the Department of Regulatory Agencies, released its 2019 Sunset Review Report concerning the HOA Information and Resource Center. The functions of the HOA Information and Resource Center are scheduled to terminate on September 1, 2020, unless continued by the Colorado General Assembly.

Read the 2019 Sunset Review Report on the HOA Information and Resource Center.

Property Management Legislation Update - During the 2019 Colorado legislative session a number of Bills passed that affect property managers, landlords and tenants. Here are some Bills to review and incorporate into your practice.

Learn about the new bills here.

Trust Accounting - For those of us who grew up in the pre “internet everything” generation, and had to balance our checkbooks monthly, we likely know what a two-way reconciliation is, but the three way reconciliation seems to create confusion for some.

Get caught up with this refresher advisory from the Division on the concepts surrounding the required monthly reconciliations.

Providing Referral Fees - The Division frequently receives questions and concerns from the real estate brokerage community regarding the practice of providing referral fees. There appears to be a common belief within the industry that any referral fee paid from a broker to an unlicensed individual is always a violation of Colorado license law. Take a look at this advisory as it touches on the Real Estate Commission's position, Federal RESPA regulations, and the legality of your referral fee program.

Winter holidays are a time for families and friends to get together. But that also means the possibility of a greater risk for fire.

Here are a few simple tips to ensure a happy, fire-free, and safe holiday season.