For those who like everything in one place… download the Fall 2016 Newsletter. Four pages of course information, learning news, and some thoughts about Paying it Backward. Print a copy and hang it on your bulletin board!
Every so often I find myself in a position where I ask myself, “Why did I do that, am I crazy?” While you may not be interested in my mental health, if you’re on the site looking for something, you might find things a bit out of whack. Let me explain. (The good news is, I can explain–so I’m not irrational. At least at the moment.
My two primary sites are currently undergoing significant changes. My Brain Leaks and Musings site is in the process of being migrated to a different server. I won’t bore you with the details, but suffice it to say that migration means lots of updating and changes are required. Some of those changes are impacting my real estate site (this one) and, in general, I’m discovering lots of opportunities (not using the word “problems”) for change. Some are to improve the visitor’s experience, some will make my job easier. So, in short, if you can’t find something on the site or find something broken, please let me know.
The reason I might be crazy is that I selected absolutely the worst month of the year to undertake this. This is the month when fall courses must be scheduled and planned. It’s also historically the month I do much of my course development and improvement work. Taking on an additional project of this magnitude might be crazy, right?
In an interesting way, the decision to do this at such a “crazy” time is linked to mental health. As most will know, I teach a number of subjects in addition to real estate and, in my spare time work with kids. Several years ago I became a NAMI (National Alliance for Mental Illness) certified mental health specialist for youth and adults. Since I am also gatekeeper trained, I began offering a suicide awareness and prevention course. Suicide is a serious public health concern. Maine is not an exception. Our state averages 196 deaths by suicide each year; in 2009 alone, 2,800 high school students and 4,000 adults attempted suicide while 6,700 high school students and 27,000 adults considered suicide.
In part because of this, a law was passed several years ago that request anyone receiving a paycheck from a Maine Public School system to complete this research-based course. Since I also teach a substitute teacher’s course, it made sense for me to offer the required Suicide Awareness Course through several adult education programs where I teach the Substitute Teacher’s Course.
This year one of those adult education programs opted not to offer the program and I needed to find a different venue. In that I have succeeded– and I’m really excited about the possibilities it will create. However, since the courses I’ll be offering at that venue will be sponsored by my company, Abbot Village Press. That means I will be handling the course administration responsibilities usually handled by the course “provider.”
So I need to develop an “online” system that will allow students to register for those courses. (Real Estate Courses will still be sponsored by the Arthur Gary School of Real Estate.) I’m working on it. But in the interim things might look a little messy and confusing. One of my many goals is to avoid creating confusion. So bear with me… and if you have any questions or suggestions, I’d love to hear them!
2016 Fall Suicide Awareness Classes — A complete listing of available classes on this important subject.
Since I’m not actively engaged in brokerage on a daily basis, I take some extra steps to make certain I’m keeping current with “what’s going on in the business.” I know all too well the hazards created when class content and delivery aren’t in tune with the current environment.
One of those steps is to scan the media regularly and consistently. Recently there have been some headlines regarding action taken by the CFPB (Consumer Financial Protection Bureau) that are at best misleading. One I saw this morning claimed “CFPB makes clear lenders’ ability to share closing disclosure.” Actually, the CFPB has proposed some changes to TRID (TILA-RESPA Integrated Disclosure Rule). Until those changes are adopted, nothing has changed. The original rules remain in place.
In layman’s terms, the current rules adopted last fall created a reluctance on the part of lenders to share Closing Disclosures (a detailed statement of the buyer/borrower’s costs) with third parties–including real estate licensees. I suspect this stemmed in part from a desire to protect borrowers’ privacy. That would seem to be noble goal. But it was a change that did not sit well with some licensees who had become accustomed to the lender sending the previous disclosure (called ” the HUD”) to the licensees involved in the transaction.
Under the new rule, lenders were given strong confidentiality guidelines that actually go far beyond the issue of who gets the closing disclosure. Those guidelines increased the borrowers’ confidence that information about them and their transaction would remain confidential. Nothing, however, took away the borrower’s right to share that information with others.
Personally, I never understood why this created a problem for licensees. Under the new rule, the lender would send the closing disclosure to the borrower. The borrower would, if he or she wished, contact his real estate licensee and provide a copy for review and discussion. I informally polled some of my students and, while many admitted it felt like an extra step, no one reported a serious problem with the process. In exchange for what might be seen as an extra step, the buyer/borrower received additional protections and maintained responsibility for the the process. So the campaign to change this rule feels a bit like a solution in search of a problem.
Perhaps someone can help me understand why this change is necessary. The lines of communication between a real estate licensee and his or her client should be open and frequent. We say it often, “The agent (licensee) advises, the client decides.” Why would that not apply here? The information contained in a closing disclosure belongs to the client, not the licensee. This change might actually be seen as a power grab, taking away a borrower’s right.
We sometimes hear licensees “complain” that buyers and sellers do not accept enough responsibility for what happens in a transaction and are quick to blame the licensee when things go wrong. If that’s true, does it really make sense to take this step?
I haven’t looked at the specific language of the proposed rule changes, but a summary indicates the change will include (among other things) “guidance on sharing the disclosures with various parties involved in the mortgage origination process.” It seems to me that we already have that and we might think about what we’re doing and saying if we change that guidance.