Market Conditions in Newport>Question Details

Frederick Da…,  in Bristol, RI

How do the new FTC Mars rules affect Real Estate Professionals?

Asked by Frederick Dallinger, Bristol, RI Thu May 5, 2011

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Real Estate Professionals are significantly effected by the MARS Rule (Mortgage Assistance Relief Services). It is primarily targeted at Loan Mod companies and Realtors advertising themselves as 'Short Sale Experts' but it also effects Realtors representing a seller in short sale, if it is even just one sale. Significant fines may be accessed by the FTC and there are even new record keeping requirements. All realtors should check with their state board to learn about compliance methods.

Attached is a web reference to give you a more clear understanding.
1 vote Thank Flag Link Mon May 9, 2011
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