In April of 2008 the State of Michigan passed a law requiring loan officer registration within the state. This new registration law took effect on April 1 of this year. The link below will provide you with a search tool for identifying
registered loan officers in the State of Michigan.
As is often the case with legislation, new federal mandates require Michigans law to conform to changing national regulation. The Federal law, commonly referred to as the S.A.F.E. Act of 2008, requires that states institute their own programs in order to
license these loan officers.
Legislation has been introduced as of April 22, 2009 in the Michigan Legislature with the goal of meeting the S.A.F.E. Act's July 31, 2009 deadline to set up a registration process. It is required that states allow access to the list of
licensed loan officers online.
View the List of Licensed Loan Officers
In our ongoing efforts to enhance our services to the membership, we have prepared a very brief survey (2-3 minutes) on two of those important services... our annual convention, and our member magazine. We highly value your input on these two services, so please take just these few minutes to complete this brief survey.
Clicking on the link below will direct you to the survey site. As always, thank you, in advance, for your valuable insights and ideas.
Local Association Executives from across the state will meet in Lansing on May 1 to continue work on Michigan's Foreclosure Prevention and Response Initiative. With the continued economic downturn and mortgage foreclosure crisis expanding nationwide, NAR has allocated funding for state and local programs designed to assist REALTORS® and homeowners to navigate the complex foreclosure process.
The Michigan project will interact with state agencies, the banking community, the National Association of REALTORS®, other real estate professionals and community groups to develop information pieces, training materials, counseling, and other vehicles to provide high quality products.
The deliverables will include:
• Training kit designed to assist local associations in reaching their broker community with valuable tools and resources to educate on housing resources, foreclosures and short sales. Sent out to each local and branded with NAR/MAR/Local. Components in the kit include foreclosure and short sale video, agent talking points, frequently asked Q&A, Broker Script and virtual booklet.
• Six regional Foreclosure/Housing Resources Public Forums; working with MSHDA loan partners and local legislators. These sessions are tentatively scheduled in Kent County, SE Michigan (2), Marquette, Flint, and Lansing/Jackson. Local associations will coordinate programs.
• REALTOR® and public awareness:
Public Service announcements
MSHDA distribution of 18.000 Save the Dream Brochures
REALTOR® resource web page - built within mirealtors.com; updated
This month, Monroe REALTOR® Kim Sachs, First Realty GMAC, appeared with Mary Townley, MSHDA Director of Homeownership and Senator Randy Richardville on the Senator's cable television program. Associate Broker Gary Reggish, Remerica United Realty, made a similar appearance on the Tyrone Bynum television show.
Local Association Executives assisting with development are Sharon Armour, Detroit Association of REALTORS®, June Clark, Monroe County Association of REALTORS®, Mark Dickens, Flint Area Association of REALTORS®, Patricia Jacobs, North Oakland County Board of REALTORS®, Julie Rietberg, Grand Rapids Association of REALTORS®, Dale Smith, Western Wayne Oakland County Association of REALTORS®, Cynthia Spafford, Upper Peninsula Association of REALTORS®, Melissa Tee, Jackson Area Association of REALTORS®, Gary Walter, Southwestern Michigan Association of REALTORS® and Elaine West, Greater Lansing Association of REALTORS®.
MAR would like to remind you about the exciting new initiative launched by NAR. The new initiative is called 'Right Tools. Right Now.' and it provides NAR members with hundreds of products, services and programs for free or at cost. The goal is to put more tools and resources into members' hands to help them with their business - right now.
MAR encourages you to access the Right Tools. Right Now. Web site today to see all that is now available and to let your colleagues know about this program as well. Click on the link below to access this website:
NAR's Right Tools. Right Now. Since this initiative began, we have had an overwhelmingly positive response to this program with thousands of free products ordered and distributed. This initiative includes items for REALTORS®, as well as home buyers and sellers. The Right Tools. Right Now. program will run through 2009 with new products and services added monthly.
Today, Tuesday April 28 at 3:00 pm, there will be a free webinar on building business around the first-time home buyer tax credit. A real estate pro who has conducted a consumer seminar on the credit will talk about marketing and the director of the H&R Block Tax Institute will talk about accounting issues.
Attend the Build Business Using the New Tax Credit Webinar
With the help of McClelland & Anderson, we are taking the most commonly asked questions from our legal hotline and putting them in e-news. We will be featuring a different question each issue.
QUESTION: I am a REALTOR®
that just moved to Michigan from another state. The state I’m coming from requires a listing broker to make sure that an earnest money deposit is provided for each transaction. Is this required in Michigan?
Through administrator Hartland Insurance Group, Frankenmuth Mutual (FM) provides MAR members with substantial discounts on auto- and homeowners insurance. Members receive discounts of at least 10 percent off normal FM auto insurance rates, 15 percent off homeowners insurance rates, and an amazing 20 percent off of combined auto- and homeowners policies.
Members can enroll by contacting their local Frankenmuth Mutual agent.
To find your local agent, call 800.682.6881 or visit the Hartland Insurance Group
Web site.
Download a list of preferred agents and agencies nearest you
View all MAR Edge Programs & Benefits Here