Commissions, Rebates and Inducements

The NJ Department of Banking and Insurance issued Bulletin No. 13-02 today, restating the prohibition of commissions, rebates or inducements paid by title insurers to real estate brokers/salespersons.

This prohibition extends not only to those practices cited in the memo, but to marketing, printing and mailing materials for agents at the title company's expense.

Bulk Sales Update . . . . .

Bulk Sales Reform Passes NJ Senate!

On June 9, 2011, the New Jersey State Senate unanimously passed A-2748, the legislative revision that proposes exempting certain residential and seasonal rental properties from the notice requirements of the Bulk Sales Act.

RESPA Round Up Articles

RESPA Round-Up articles help settlement agents and lenders by interpreting questions submitted to the agency to help clarify guidelines and reduce confusion in meeting the 2010 RESPA Guidelines. They are not published on any regular schedule or interval.