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Brokers & Managers!! 2012-13 DOC Required Module
The 2012-13 DOC-Required Module consists of two separate 3.75 hour components:
• Contracts; AND
• MN Distressed Properties
Successful completion of BOTH components is required to satisfy the 7.5 hour module. The DOC requires that BOTH components be taken by the SAME PROVIDER in the same setting (i.e., both in-class or both on-line). The required module cannot be uploaded to Pulse Portal until BOTH components have been completed and a passing grade received on both required exams.
Choose from several convenient locations throughout the state to sign up for your first component:
- Wednesday, September 5, Mystic Lake Casino — 2400 Mystic Lake Blvd, Prior Lake Component: Contracts taught by Don Smith
- Thursday, September 6, Grand Casino Hinckley — 777 Lady Luck Drive, Hinckley Sign up for one component (being offered simultaneously).
- Component: Contracts taught by Lynn Leegard OR
- Component: MN Distressed Property taught by John Anderson
- Thursday, September 13, Minneapolis Airport Marriott — 2020 American Blvd East, Bloomington Component: Contracts taught by Brad Boyd
- Friday, September 14, Le St.-Germain Suite Hotel (formerly the Radisson) 404 W. St. Germain, St. Cloud Component: Contracts taught by Wayne Gilbert
- Wednesday, September 19, Bigwood Event Center — 925 Western Avenue, Fergus Falls Component: MN Distressed Property taught by Chris Prescott
- Thursday, September 20, Minneapolis Marriott Northwest (formerly the Northland Inn) 7025 Northland Drive North, Minneapolis Component: MN Distressed Property taught by Jim Dattalo
Cost is $45 for MN REALTOR® Members and $60 for Non-Members. Go to www.mnrealtor.com to register.
MNAR Seeks Candidates for National Director Position
Friday is the final day we are accepting applications!
We have two openings for a Director to serve on the NAR Board of Directors for a three year term, beginning on January 1, 2013. This position requires attendance at the two NAR meetings each year: the Legislative and Mid-year meetings in Washington, D.C. in May and the annual convention which is held in November of each year in a major U.S. city. NAR Directors are also encouraged to serve on an NAR Committee which meet in conjunction with the two national meetings. NAR Directors from Minnesota also serve a three year term on the MNAR Board of Directors and those meetings are held three or four times each year in the Metro area. NAR Directors representing Minnesota at the two NAR meetings are eligible and may request reimbursement up to $2,000 per meeting to offset travel, lodging and meal expenses.
If you are interested in this position, or know someone who may be interested, please complete the Director and application form here.
To be eligible as a candidate for National Director, you must be currently serving on the MNAR's Board of Directors or have served in the immediate three preceding years. All applications must be submitted by the close of business on August 31, 2012. Each candidate who applies will be required to interview with the MNAR Nominating Committee on Friday, September 7, 2012. If you have any questions, please do not hesitate to contact Linda Modlinski at lmodlinski@mnrealtor.com.
MNAR Seeks Committee Candidates
Friday is the final day we are accepting Applications! All applications are due by August 31, 2012
Board of Directors: If you are interested in serving on the MNAR Board of Directors, you can be appointed through your Local REALTOR® Association. Our new fiscal year 2013 Board will be seated in October. Please Contact your Local Association President or call your Association Office to find out the local process for these appointments.
Executive Committee: This Committee acts in intervals between the Board meetings on personnel, strategic planning and other managerial issues and is subject to the control and direction of the Board. They meet approximately four times per year and all members of the Executive Committee automatically serve on the MNAR Board of Directors. In fiscal year 2013, there are openings from Regions 1, 3, 5 and 6. Appointments will be made by the Board of Directors at their October 17th meeting, with the term to commence immediately upon selection. Apply here.
Finance Committee: The main focus of this Committee is to set the yearly budget and oversee its implementation. This Committee helps determine what functions and programs will be funded for the next fiscal year. The budget established by this Committee, including the annual dues, is forwarded to the MNAR Board for final approval. Members interested in serving on this Committee must understand profit and loss statements and have financial knowledge or background. This Committee meets one time a year in early May. The slate of candidates will be forwarded to the Executive Committee for final selection. Apply here.
Forms Committee: The objective of the MNAR Forms Committee is to create and evaluate recommended forms for use by our REALTOR® membership. Appointments will be made from the applications received. Apply here.
In addition to its regular Committee, the Forms Committee is also seeking volunteers to serve on its Commercial Forms Sub Committee and Land Forms Sub Committee. Both Sub Committees will meet at least once during the year to review the Forms and make any necessary modifications. If you have experience in either of these areas, please apply!
Governmental Affairs Committee: This Committee monitors and recommends legislation and public policies affecting the real estate industry. They meet approximately five times per year. If your are interested in serving, please apply here.
Nominating Committee: Members of this Committee meet twice a year to approve candidates for the positions of President-Elect and Treasurer plus the MNAR representatives to the National Association of REALTORS® Board of Directors. The slate of candidates is forwarded to the MNAR Board for final selection to these positions. Apply here.
Professional Standards Committee: The objective of this Committee is to promote honesty, integrity, fairness and competence and to resolve controversies on the basis of informed judgment of one's peers. Applicants must be a REALTOR® member for a minimum of three years and will be required to attend an MNAR training program in December or January to serve on the Committee. Appointments will be made from the applications received. Apply here.
MNAR Seeking Candidates for the 2012 REALTOR® of the Year Award
Friday is the last day we are accepting nominations!
The MNAR REALTOR® of the Year will be announced at the MNAR Leadership Reception in October. The winner will receive $1,000 to offset expenses to attend the NAR Convention in Orlando, where the National Association of REALTORS® will recognize our recipient along with REALTORS® of the Year from other states.
You can submit as many candidates as you feel are qualified. The MNAR Management Team may also submit candidates. The criterion for the MNAR REALTOR® of the Year heavily stresses State Association involvement over the last twelve months. Therefore, if you expect your nominee(s) to receive strong consideration for the MNAR REALTOR® of the Year, he/she should be able to document State Association Involvement.
The application form can be found here. All entries must be submitted on the REALTOR® of the Year form. Deadline for applications is August 31, 2012.
Honoring Political Involvement
Friday is the final day we are accepting nominations! Ed Anderson Award Applications Due by August 31st
With all the time constraints placed upon us in today's busy world, finding time to become politically active in order to benefit your industry is very honorable. That was the genesis and inspiration behind the Ed Anderson Political Achievement Award. An award designed to honor Minnesota REALTORS® who have contributed time, knowledge and resources to the preservation of the real estate industry.
If you know of a Minnesota REALTOR® who is active in politics and works to better the industry through their involvement, please submit an application on their behalf so they can be considered for the 2012 Ed Anders Award. Nominate someone here.
Washington Report
Government Extends Period to Request Review of Foreclosure Handling to Dec. 31, 2012 - Borrowers who faced foreclosure in 2009 or 2010 may be eligible for a free independent review of their foreclosures and they now have until Dec. 31, 2012, to make a request for that review.
The reviews which were ordered by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve in April of 2011 cover foreclosures handled by most major loan servicers. They are intended to determine whether borrowers suffered financial injury due to improper handling of the foreclosure action and, if so, how much compensation should be paid.
OCC has mailed 4 million letters to likely eligible borrowers notifying them of this opportunity. Other borrowers who believe they are eligible for this review of their foreclosure can request application forms by calling (888) 952-9105. This is the third extension of time for borrowers to request this free of cost review.
Complete information about the Independent Review Program
New Rules Proposed for Higher-Risk Mortgages - The Federal Reserve Board has joined with five other federal regulatory agencies in proposing a new rule to impose appraisal requirements for loans secured by a borrower’s home and bearing interest rates higher than the average prime offer rate (APOR) for comparable properties and mortgages.
Higher-risk loans will now require creditors to use a licensed or certified appraiser who prepares a complete report on physical inspection of the property. Applicants for a loan must be furnished a free copy of any appraisal. In an effort to prevent fraudulent property flipping the rule would require creditors to obtain a second appraisal at no cost to applicant if the property has been acquired at a lower price in the previous six months.
NAR is looking at the proposed rule for issues of concern and intends to file a formal comment on the proposed rule.
View the Proposed Rule
Coalition Urges Passage of Foreign Investment Bill - NAR championed a coalition letter to House Leadership and the House Judiciary Committee urging support for Senate legislation reauthorizing the EB-5 regional center program.
In July, the Senate passed S. 3245, sponsored by Senators Leahy (D-VT) and Grassley (R-IA), which reauthorizes the EB-5 regional center program. Regional Centers help identify American business needs in the community and help direct investor funds to those projects. In return for investing and creating American jobs, these investors earn visas to live in the United States.
Regional Centers began as a pilot program in 1992, but have been extended several times. Current authority is set to expire on Sept. 30, 2012. S. 3245 will extend them for an additional 3 years. We are hopeful this legislation will be considered in the House when Congress returns in September.
Letter to House Leadership
Letter to House Judiciary
CFPB Issues HOEPA Rule Proposal for High Cost Loans - On Aug. 15, 2012, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register a proposal to implement new Home Ownership and Equity Protection Act (HOEPA) rules that expand the coverage of this statute and tightens the limits of what is considered a high cost loan.
The mandate for these changes the Dodd-Frank Wall Street Reform and Consumer Protection Act. This is one of many important rules since most lenders avoid the potential legal liabilities associated with HOEPA loans. In the last year for which there is data, fewer than 6000 HOEPA loans were made and most in the industry say the majority of these loans were done by accident.
The new rule proposal reduces the interest rate caps, limits the fees and points to 5, stringently restricts balloon payments, requires homeowner counseling when HOEPA is triggered, and limits prepayment penalties. It also expands HOEPA to include purchase money mortgages, refinances, closed end home equity loans, and open end credit plans making a HOEPA apply to most mortgage scenarios other than reverse mortgages.
Comments on the proposed rule are due Sept. 7, 2012.
View the Proposed Rule
Guaranteed Loan Program for Rural Areas Issues Loan Processing Advisory - The U.S. Department of Agriculture’s Single Family Housing Guaranteed Loan Program has issued an advisory for lenders that will also be of interest to Realtors with buyers and sellers over the next several weeks.
The advisory recommends that you be alert as to the processing times for loan guarantees, times that can vary widely by state. The advisory includes a link to state contacts who can provide the current average processing time for loan guarantees.
If a buyer’s loan package is not reviewed and approved for a Conditional Commitment by USDA Rural Development before Oct. 1, 2012, the buyer will be charged the FY 2013 fees, which require a 2 per cent upfront guarantee fee and annual fee of .40 per cent.
USDA said the new fee structure will also apply to refinancing and that budget authority for refinancing may lapse before the end of FY 2012.
The MN Association of REALTORS® is teaming up again with Sun Country Airlines, the Hometown Airline, to offer REALTORS® a discount on travel to Orlando to attend the 2012 REALTORS® Conference & Expo. Use the promotion code “MNAR15” on Sun Country Airlines’ website www.suncountry.com to receive 15% off their lowest applicable fare. The discount is valid for all flights between Minneapolis and Orlando from November 6, 2012 until November 16, 2012.
The discount applies to coach class, but not First Class. Affordable upgrades are available during check-in. The discounted flights can be combined with outbound/return flights outside of the promotion dates, but only the flights segments within the promotion period are discounted. The discount can be used for both one-way and round-trip reservations. The special REALTOR® discount cannot be combined with other discounts, promotions, UflyRewardsPlus fares, Sun Country Vacations Cruise/Hotel packages, vouchers or gift certificates. It is not retroactive and cannot be applied to existing reservations. Standard Sun Country Airlines change fees, bag fees, etc. and all other policies apply.
Minnesota Cities Make CNNMoney's List of Best Places to Live
What does it take for a city to make the “best places to live” list? Money Magazine factored in job opportunities, great schools, housing, low crime rates, and quality health care among its criteria for this year’s list of best small places to live in the U.S.
Five Minnesota cities made the top 25 list. Maple Grove placed 22nd, Lakeville at 19th, Eagan at 14th, Woodbury at 11th, and at third place: Eden Prairie.
View the entire list at CNNMoney.
 HUDHomestore is a website where the public can find and bid on HUD Homes. Each week, the website receives approximately 500,000 hits and over 150,000 homes have been sold through this website in the last two years.
A few weeks ago, a new iPhone App was released called HUD Home Store Mobile Search. It makes it easier to search for houses on HUD Home Store from an iPhone. You can search by street, city, state, or ZIP code. HUD HomeStore listings feature photos of properties and include information such as number of bedrooms & baths, year built, agent contact, square footage, and eligible bidder information. Listings also include detailed maps of a home’s location.
So far, the application has been downloaded by more than 10,000 users, with favorable reviews such as: "Simple & Easy to Use - Finally a real estate app that actually gives buyers the info they're looking for in an easy to maneuver format."
If you know anyone interested in buying a HUD home, here’s the link to download the app: iPhone APP.
 64th Fall Parade of Homes Starts September 8
Fall 2012 Parade of Homes Press Kit -
You'll find Logos and Graphics and Photos to download.
Individual Press Releases & Graphics:
- Overview: General Information about the Parade of Homes.
- Fact Sheet: All the facts in a quick, bulleted format.
- Real Families: Our Guidebook cover story features four families who share their home buying experiences.
- Three Green Dream Homes: This fall's Million-dollar Dream Homes are all MN Green Path Certified and ask visitors for a $5.00 donation to support the work of our BATC Foundation.
- BATC Foundation: Making a difference one home at a time.
- Energy Efficient Home Tour: Over 100 homes on the tour have been independently tested.
- MN Green Path: This green building program makes good sense for Minnesota home buyers.
- Trends: Four top new home trends to see on the tour.
- New Logo and Website: Parade of Homes logo and Web site gets a makeover.
Holy Bat Show! “Batman Live” is coming to the Xcel Energy Center this September. Discount tickets on select performances are now available when ordering at https://secure.xcelenergycenter.com/GT/default.asp?Group=Minne91580. Feel free to visit http://www.batmanlive.com/home.php for a quick video of the show.
 Free Expo Passes for You, Your Customers, Clients, Prospects, Family and Friends!
The Expo Guys are happy to supply you with plentiful "Admit 2 Free" EXPO Passes for you and your employees, friends and families. These passes allow them to attend our up-coming expos and seminars FREE of charge.
These FREE Passes are available in quantity, for as many as you request, while supplies last.
Download the order form, and fax back to (952) 929-9510.
Tickets for the following events are available:
HEALTHY LIFE EXPO:
October 20-21, 2012 @ Minneapolis Convention Center
HOME IMPROVEMENT & DESIGN EXPO
October 20-21, 2012 @ Minneapolis Convention Center
October 27, 2012 @ National Sports Center, Blaine
November 3, 2012 @ Maple Grove Community Center
For more information, visit www.MediaMaxEvents.com.
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