Mortgage Mania

• To be eligible for inclusion in Rising Stars, a candidate must be either 40 years old or younger or in practice for 10 years or less.
• No more than 2.5 percent of the lawyers in a state are named to Rising Stars.

1. Enforcement:
• 5 new investigators are on the enforcement staff;
• Approximately 70% of DOS enforcement is related to real estate brokerage;
• The majority of enforcement has recently addressed client funds (a/k/a, escrow) - it was suggested that a brokerage creates a job of escrow accounts supervisor to minimize organizational confusion and it was suggested that such individual needn't be licensed in brokerage;
• Secondarily enforcement has mostly addressed brokers failing to immediately terminate their salespersons upon request by the salesperson;
• Enforcement contacts respondents often through the email address provided to DOS, so brokers need to check their email (not just physical mail);
2. Curriculum:
• Changes to the broker's curriculum are in the works:
• Curriculum will maintain 45 hour requirement; 
• Curriculum is expanding the topic of broker's operations to 16 hours, which includes license law and agency; 
3. The Real Estate License Law updates from 5/2015 address changes to part 19 NYCRR sections:
• 175.12 - key change of duplicate original to only require a copy (strangely the title stayed at "Delivering duplicate original of instrument")
• 175.20
• 175.24(a)
• 177.2
• 179.1
• 179.2(b)
• 179.3(a)