Sentences with phrase «licensed broker acts»
92 DOS 93 Matter of Bijur - licensee required to be licensed in the capacity under which he conducts business; individually licensed broker acts as associate broker without proper licensing, business card does not reflect licensed status; past discipline considered regarding penalty; $ 500 fine or 1 - month suspension for corporation and representative broker; 1 - month suspension for individual broker who failed to obtain associate brokerage license
http://www.nysar.com/ Not exact matches
Nick Confessore reports that John Sampson, the State Senate leader, performed legal work for Edul Ahmad, a Queens real estate broker who was being investigated by state authorities on allegations of fraud and predatory lending, and was disciplined for acting as a notary for the broker after his notary license had expired, according to state documents.
(B) «Credit repair services organization» does not include: (i) Any person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States; (ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (v) Any person licensed to practice law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - 1681t).
The Bureau of Loans is tasked with the administration and enforcement of the Alabama Small Loan Act, the Consumer Credit Act, and the Mortgage Brokers Licensing Act.
One regulatory change that actually helped brokers was the Secure and Fair Enforcement for Mortgage Licensing Act, which requires all loan officers to register with the Nationwide Multistate Licensing System and undergo background checks.
(1) The following shall be exempt from the Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.
A person licensed as a real estate broker or salesperson, under section 543B.20, acting within the course and scope of that license.
A broker - dealer or agent registered under s. 551.406 if the broker - dealer or agent is acting within the course and scope of that license.
A person licensed as a mortgage banker, mortgage loan originator, or mortgage broker under s. 224.72 or 224.725 if the person is acting within the course and scope of the license.
Due to the SAFE Mortgage Licensing Act of 2008, brokers must pass state licensing exams, proving they know the rules of fLicensing Act of 2008, brokers must pass state licensing exams, proving they know the rules of flicensing exams, proving they know the rules of financing.
(viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of 1987.
«Credit Services Organization» does not include any of the following: (i) a person authorized to make loans or extensions of credit under the laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act olicense; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act oLicense Act of 1987.
(iv) Any person licensed as a real estate broker by this Commonwealth where the person is acting within the course and scope of that license;
(5) A person licensed as a real estate broker under IC 25 - 34.1 if the person is acting within the course and scope of the person's license.
An individual who acts as a mortgage broker exclusively for a single mortgage banker or single exempt person and who is licensed under the provisions of G.S. 53 ‑ 243.05 (c)(1a).
A mortgage broker, who should be a licensed one, acts as a middleman between you and potential lenders.
(6) A person licensed as a real estate broker or salesperson under Chapter 29 of Title 24 acting within the course and scope of that license;
A mortgage broker (should be a licensed one), acts as a middleman between you and potential lenders.
The department maintains the mortgage broker recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators.
(4) Any person licensed as a real estate broker performing an act for which a real estate license is required under the Real Estate Law (Pt. 1 (commencing with Sec. 10000), Div.
Any dog breeder / broker that holds an Animal Welfare Act license must be inspected by the United States Department of Agriculture (USDA).
The federal Animal Welfare Act requires breeders who have more than three breeding female dogs and sell puppies to pet stores or puppy brokers to be licensed and inspected by the U.S. Department of Agriculture (USDA).
The federal Animal Welfare Act (AWA), passed in 1966, requires breeders who have more than three breeding female dogs and sell puppies to pet stores or puppy brokers to be licensed and inspected by the U.S. Department of Agriculture (USDA).
Brokers must be licensed by USDA and must abide by the shipping regulations in the Animal Welfare Act.
Mayor Bill DeBlasio has just enacted a bill into law that prohibits NYC pet stores from purchasing puppies from commercial puppy brokers or USDA - licensed breeders with severe Animal Welfare Act Violations.
Dog and cat breeders and brokers who are licensed by the USDA are inspected by the USDA and required to follow Animal Welfare Act standards.
Pat awakens and prepares to begin the work day as a private real estate broker (which means Pat must comply with the provisions of The Real Estate Act regarding licensing and business conduct and the provisions of The Labour Standards Act, which regulates wages, hours of work and working conditions for employees).
Whereas states previously would issue separate licenses for agents and brokers, most states now issue a single producer license regardless if the person is acting on behalf of the insured or insurer.
There is also the matter of actually advertising for a SPECIFIC property, if you do not currently have an interest in it, as this has been explained and construed by some as acting as a broker without a license.
Another guideline is the Real Estate Settlement Procedures Act, which generally prohibits the payment of referral fees from one settlement service provider to another, though RESPA does allow licensed real estate brokers to exchange fees.
However, the Mortgage Broker License Act requires that the mortgage broker or loan officer provide a written disclosure to the client in advance and obtain the client's written consent.»
R.C. 4735.18 (A)(34) provides that discipline may be imposed on a licensed real estate broker or salesperson for authorizing or permitting a person to act as an agent in the capacity of a broker or salesperson who was not then licensed as a real estate broker or salesperson.
Ontario» Real Estate and Business Brokers» Act (REBBA) requires you to be a licensed real estate agent to trade in real estate, but REBBA does allow an exception for auctioneers, builders who sell their own product and for lawyers.
Sounds like advertising a property in Georgia is illegal according to the info Ethan posted as advertising a property without a license is acting like a broker.
But then this also makes you question acting as a real estate broker as a wholesaler without a license.
You can not instruct the licensed broker or salesperson acting as your agent to convey for you any limitations in the sale or rental because the real estate professional is also bound by law not to discriminate.
In Arizona, a person who acts as a real estate broker or salesperson without a license can be found guilty of a felony that can hold a minimum six months in prison.
With respect to trust accounts, the amended statute provides that real estate brokers and licensed real estate property managers may not commingle funds in a client trust account, with the exception of compensation earned in connection with a real estate sale, purchase, or exchange transaction.2 Commingling is defined as «the mixing of funds from any source, including personal funds, with trust funds... by a licensed real estate property manager or principal real estate broker.3 Licensees do not need to create a trust account when acting only as a courier conveying a check payable to the seller from the purchaser.4
The Broker did hold a real estate license; however, he was acting as a lender in this matter and not as a real estate broker.
If you find notes, and forward the note information to others and facilitate a transaction between a note holder and another buyer you need a license as you are then acting as a broker.
In California, a corporation can be the licensed broker like the Brokerage and the Brokerage acts through its associate licensees like the Listing Broker and the Buyer's Representative.
A salesperson must be licensed with a broker, and therefore is an agent of the broker, who in turn is licensed to act as an agent for the public.
The court did not raise a more basic point, namely that under the real estate licensing laws of every state, a real estate salesperson has no authority to act independently of his broker.
Provide that the unit owner may designate a licensed broker to act as the owner's authorized representative with respect to any lease.
In relevant part, the Act states that» [n] o action or suit shall be instituted... in any court of this State by... corporation for compensation for any act done or service performed... unless... corporation was duly licensed hereunder as a broker or salesperson.&raqAct states that» [n] o action or suit shall be instituted... in any court of this State by... corporation for compensation for any act done or service performed... unless... corporation was duly licensed hereunder as a broker or salesperson.&raqact done or service performed... unless... corporation was duly licensed hereunder as a broker or salesperson.»
103 DOS 93 Matter of Cipriani Lewis - individually licensed broker fails to obtain associate broker's license when acting under the name of the corporation; must get relicensed as associate broker, can't merely file salesperson's change of association form; pleadings amended to conform to the proof; reprimand
Real estate licensees may be dually licensed under the Real Estate Services Act and Mortgage Brokers Act.
(2) A managing broker licensed in relation to a brokerage acts for the brokerage for all purposes under this Act, and is responsible for
may be licensed, under Part 2 of the Act and in accordance with this Part, as a managing broker, associate broker or representative.
The purpose of the Act is to: (i) empower the Board to regulate and control the business of real estate in The Bahamas, (ii) to empower the board to conduct such examinations and courses as it deems necessary to promote and maintain high ethical and professional standards of conduct between BREA licensed members and the general public in real estate transactions, and most importantly, (iii) to give the general public the assurance and understanding that all BREA licensed real estate brokers and salesmen are professional, accountable and liable under the provisions of the Real Estate (Brokers and Salesmen) Actbrokers and salesmen are professional, accountable and liable under the provisions of the Real Estate (Brokers and Salesmen) ActBrokers and Salesmen) Act, 1995.