What is the “one-click away” rule for electronic advertisements?
I received the following question from one of our Lenders and I am having a hard time tracking down an answer:
"First lets define a Transactional Broker. In this context, a transactional broker is an agent that is not licensed. The agent will usually work under a supervisor. A transactional broker may be listed on a purchase contract, but they will be identified a Limited Agent (or similar language, sample contract attached). Transactional brokers are also called Statutory Brokers (often in WY) and occasionally Intermediary.
It is important to note that a licensed agent can work in a "Limited" capacity, but a non-licensed agent (Transactional Broker) can never represent a buyer or seller. That means, not all contracts with limited agents are "Transactional Brokers."
Assumption 1: When the agent is licensed, even when they are shown as working in a limited capacity, then their contact information is to be shown on page 5 of the closing disclosure (CD). Is this a correct understanding?
Do divisions have discretion on this point? Can they leave the contact information off in order to match the Seller CD produced by title? This is common practice by title companies in this area.
Next question, what is best practice when the limited agent is not licensed? Do we show non-licensed agents (Transitional Brokers) on the CD, without a license number, or do we leave their name off the CD?
Last point of clarification, it is our understanding that discrepancies in the contact information section of the CD (page 5) are to be included in the
post closing seller CD Review process outlined in the Seller Obligated Job Aid. Please confirm."
Do I need an attorney for every bankruptcy.
What types of bankruptcy tracking reports should we prepare?
What is the difference between an enforcement action and a consent decree?
What should we do when we receive a bankruptcy notice?
What do people outside of Collections need to know about bankruptcy?
What are the most common violations the automatic stay and how can we prevent them?
Does Florida law require that a trustee on a Deed of Trust be a resident of Florida?
Our customers who want e-disclosures click on an “Enroll Me” link. Is that good enough for compliance?