The Bureau of Real Estate can dispatch an auditor to conduct an on-site audit of a broker’s operations. These audits typically focus on proper use of the broker’s trust account, but usually also include a full compliance check of the real estate broker’s operations. BRE audits are usually triggered by a complaint. A typical audit
New Reporting Rules for Real Estate Brokers and Salespersons
By Fredrick Ray on
Posted in Professional License Law
As of 2012, the Department of Real Estate now requires its licensed brokers and real estate salespersons to report certain “adverse events” to the Department. Business and Professions Code §10186.2 requires a licensee to make a report, in writing, within 30 days if any of the following occur:
– A licensee is charged with a…
First SAFE Act Mortgage Loan Originator Cases Coming
By Fredrick Ray on
Posted in Professional License Law
“the SAFE Act requires applicants to submit to credit checks to determine if an applicant has demonstrated ‘financial responsibility, character, and general fitness such as to command the confidence of the community and to warrant a determination that applicants will operate honestly, fairly, and effectively”…
Continue Reading First SAFE Act Mortgage Loan Originator Cases Coming