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EBCBOR & NAHREP CELEBRATE HISPANIC HERITAGE
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CFPB's TILA-RESPA Integrated Disclosure Now In Effect
Today, October 3, 2015, the CFPB's TILA-RESPA Integrated Disclosure (TRID) rule went into effect. This rule has broad industry impact as it includes changes to the closing process such as:
- New disclosure forms
- New timelines for delivering information to homebuyers
- New tolerances for fee changes
- Penalties for changes that exceed mandatory timelines
To comply with TRID, lenders have made significant changes to their technology infrastructure - integrating their business processes with thousands of settlement service providers in order to properly collaborate and deliver an improved, streamlined home buying experience for the borrower.
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Important Info From NJR Regarding the New and Revised Contracts of Sale
To address the expressed needs of members throughout the state, the New Jersey Realtors Risk Management Committee has created a new cohesive, statewide Standard Form of Real Estate Sales Contract (Form 118) which is compliant with TRID regulations that went into effect on October 3, 2015.
The current contract has been updated to comply with the TRID regulations with the addition of section 36 on the last page of the contract. NJ Realtors® now offer both versions of the form to allow members the chance to become familiar with the new statewide contract.
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Baby Boomers are Driving National Growth
Bergen & Monmouth counties have the highest percentage of Senior residents. The highest gains in household formation have been by 65- to 74-year-olds, who accounted for 860,000 new households alone from the first half of 2014 to first half of 2015, according to Census Bureau data. The 55 to 64 age group comprised the second highest at 391,000, followed by people over 75 years of age who formed 264,000 new households during that time period.
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Construction of special needs housing in Tenafly nears completion
The long-awaited special-needs housing development project at 311 Tenafly Road is nearly completed.
The 10-bedroom project is likely to receive a certificate of occupancy by the end of October, and the clients - 10 adults with developmental disabilities - are expected to move in by Thanksgiving.
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Rutherford Council opts out of affordable-housing consortium
The Borough Council on Monday dropped out of a consortium of more than 100 NJ towns that had retained a now-ailing Rutgers University professor as an affordable-housing consultant.
The council voted to have its two borough attorneys, labor counsel Eric Bernstein; and Planning Board Attorney Richard Allen work together to handle its affordable-housing analysis and projections.
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UPCOMING CLASSES & DESIGNATIONS
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Grow Your Commercial Knowledge
Save with Promo Code
COMMERCIAL10
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Become The Expert Seller's Seek!
Earn all 12 Hrs of NJ CE Credit
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VOLUNTEER & DONATION OPPORTUNITIES
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The Community Service Committee is Collecting These Items for Donation This Fall
- Non-Perishable Food for the CFA
- Winter jackets and coats for NJ Cares
- Old Cell Phones for US Troops
- Gently worn men and women's professional clothing & accessories
- for the Women's Rights Information Center & H.O.P.E
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Seize Control of Your Online Reputation
Your highest-profile competitors didn't get there by happenstance; they took an active role in building their online identity. But for many agents, the web remains a lost opportunity. Profiles on Google, Yelp, realtor.com, and other sites remain unclaimed or fall out-of-date, offering little or no sense of the agents' market activity, education, or cadre of satisfied customers.
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NAHREP'S State of Hispanic Homeownership Report
From 2000 to 2014, Hispanics accounted for 50 percent of the net growth of overall owner households in the country. A 2014 study by the Urban Institute projects that Hispanics will account for 55.5 percent of new homeowners from 2010 to 2020. READ MORE
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Closing Gift Guidelines- Global Etiquette
When it comes to gift giving, sometimes, the age-old adage, "it's the thought that counts" just doesn't apply. Customs vary greatly from country to country, so, before you gift wrap your next closing present, make sure you have done your research. If you don't take into consideration cultural differences, a token of thanks could unintentionally cause offense, or make you look foolish. READ MORE
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October 27th
EDUCADE comes to
Bergen County!
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Manage your personal and business banking with financial solutions from the REALTORS® Federal Credit Union, a Division of Northwest Federal Credit Union. You can also apply for NAR's Official REALTOR® Credit Card, featuring real estate-themed designs and REALTOR® branding options. Read more.
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Office Hours: Monday- Friday
8:00am - 5:00pm
Phone: 201-288-5000
Fax: 201-288- 0511
Staff Contact Info:
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