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Marilyn D. Glazer, GRI, CRS, CRB, M.S.Ed.

RESPA Don'ts

Under RESPA, Settlement service providers are real estate brokers and agents, mortgage brokers and bankers, title companies and title agents, home warranty companies, hazard insurance agents, appraisers, flood and tax service providers and home and pest inspectors.

A settlement service provider hosts a monthly dinner and reception for real estate agents.

A settlement service provider pays for a lock-box without including any information identifying the mortgage broker on the lock-box.

A settlement service provider provides lunch at an open house, but does not distribute brochures or display any marketing materials.

A settlement service provider hosts a "happy hour" and dinner out for real estate agents.

A settlement service provider pays for a real estate agent to go to dinner, but does not attend the dinner.

A settlement service provider makes a lump-sum payment toward a function hosted by a real estate agent, but does not provide advertising materials or make a presentation at the function.

A settlement service provider buys tickets to a sporting event for a real estate agent, or pays for the agent to play a round of golf.

The Real Estate Settlement Procedures Act (RESPA) provides for criminal penalties and substantial civil penalties under Section 8 (the anti-kick-back provisions).

Source:  NAR's Real Estate Outlook, April, 2005
More information available at:
www.REALTOR.org/GAPublic.nsf/pages/respadosdonts

Next month RESPA Do's.

Ladies,

In September 2004, WIRE introduced our newest website www.Chicagowomeninrealestate.org/ fulfilling a vision of our Officers & Directors. I hope you will all explore this new website. Let me give you a tour.

Our Home Page is the first place you'll see, where you will find information on the upcoming meeting. On the bottom of this page you'll find Questions or Comments? Click on this and communicate with our Webmaster, member Judy Duesenberg . You will also notice that the top of this page is the same anywhere you go within our site, for easy navigation. So if you want to return to the Home Page, just click anywhere on the “Women In Real Estate” header at the top.

On the left side of our Home Page you will find useful business links. Click on these titles and you are taken to that site in seconds. We can add any of your useful business sites that might be missing. Just contact Judy with your suggestions.

Next, click on the Membership tab. Need an application for a potential member? Click on Membership Application at the bottom of page and print one in seconds.

Go to the Meetings tab on the top of the page to see the schedule for the year.

Members Only is a password-protected area featuring the complete WIRE roster including cell phone numbers and other personal member information. Find a copy of our current by-laws restated here.

For a roster that can be accessed by anyone, go to About Us and look at the bottom of the page, “Click here for a list of our members.” Notice that WIRE's website is linked to individual member's websites. For example, click on Ellen Tomich and you will be taken to her web page. Awesome!

Please remember our monthly bulletin will be found on our website only, at the WIRE Bulletin tab. A meeting reminder will be mailed to everyone, which will include our President's Message.

Do any members need their own email address? We can help set up an account for you, so please let us know your needs.

Share our site with your colleagues. We have so very much to offer.

Chris Puszynski
Chris@Concare.com.