Monday, July 2, 2012

GTAR Weekly Facts – July 2, 2012


office will be closed Wednesday, July 4 for Independence Day. Have fun and be safe!

Notice for July 9
We will be unable to process new members from 8:00-10:00 a.m. on Monday, July 9 due to scheduled system maintenance. We apologize for any inconvenience.
Need OREC Required CE Hours?
July is your month to get all four OREC required CE categories—earn all 12 hours. For course details and online registration, log on to; from the Main Menu, click on the red Education bar, then click Register for Classes. If you have a GTAR Class Pass, register by emailing or calling 918-663-7500.
(FHR): Fair Housing & Ethical Practices, Wednesday, July 18, 1:00-4:00 p.m. with Kathryn Jones
(PSC): REALTOR® Ethics, Thursday, July 19, 1:00-4:00 p.m. with Kathryn Jones; this class is free, but you need to pre-register.
(BRA): OK Broker Relationships, Monday, July 23, 1:00-4:00 p.m. with Ann Lloyd
(HOT): Residential Sales Disclosures, Laws and Rules Review, Tuesday, July 24, 1:00-4:00 p.m. with Ann Lloyd
This new course was designed to highlight some of the Oklahoma Real Estate Commission’s (OREC) most common required disclosures, laws, and rules. From time to time legislation is passed, rules are written, and changes are made. All real estate licensees are required to be familiar with, and in compliance with current disclosures, laws, and rules. Click here for course details
Upcoming Computer Classes at GTAR
Pre-registration is required; space is limited to 14 per class. For more information and to enroll: log on to, click the red Education bar on the Member Services page, then click Register for Classes. All classes are held in the GTAR Computer Lab, unless otherwise indicated.
Fusion: Wednesday, July 11, 1:00-4:00 p.m. (Training Center)
Fusion Hands On: Thursday, July 12, 9:00-11:00 a.m.
Realist Tax System: Monday, July 16, 2:00-4:00 p.m.
Fusion Hands On: Tuesday, July 17, 2:00-4:00 p.m.
Fusion Hands On: Monday, July 30, 2:00-4:00 p.m.
State and Local REALTOR® Party Successes
NAR President Moe Veissi in a video podcast talks about recent state and local political advocacy wins that show the growing success of the REALTOR® party at all levels.
CFPB Hears of NAR QM, RESPA Concerns
NAR supports a Qualified Mortgage (QM) definition that establishes consumer protections and ability-to-repay standards but without reducing mortgage credit availability or increasing consumer costs, NAR President Moe Veissi told Richard Cordray, director of the new Consumer Financial Protection Bureau in a meeting last week. The two also talked about federal settlement rules and disclosures and mortgage servicing standards, among other things. More. President Veissi talks about his meeting with Cordray in this 3-minute video.
Keep Settlement Forms Simple, Veissi says
Avoid wholesale changes to disclosures and settlement forms, NAR President Moe Veissi says in testimony last week before a House Financial Services subcommittee. Regulators are in the process of harmonizing settlement disclosure rules under two separate laws, the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA). Veissi urged caution not to make disclosures more complicated for consumers. More. President Veissi talks about his testimony in this 3-minute video.

Farm Bill Includes Increase in Rural Community Size
Growing communities currently eligible for rural housing programs will continue to be eligible for Rural Housing Service (RHS) home mortgage guarantees under an amendment approved by the U.S. Senate as part of major farm legislation the chamber voted on. The population threshold for the RHS home loan program is increased to 35,000. The House is expected to consider the bill this summer. More.
Lawmakers: No Large QRM Down payment
A dozen U.S. lawmakers, led by Sens. Kay Hagan (D-N.C.) and Mike Crapo (R-Idaho), cautioned banking regulators about issuing a Qualified Residential Mortgage (QRM) rule that would require a large down payment for securitized loans to be considered safe. The position tracks NAR's concerns over the rule, which is supposed to be issued by early next year. More on the letter that lawmakers sent to regulators.
Broker to Pay $500,000 in NAR Trademark Violation
The U.S. District Court for the Northern District of Illinois ordered a broker and his companies to pay NAR $500,000 in damages and attorney’s fees for repeated and willful trademark violations in the use of "Realtor" and "" in his website addresses.
Free Consumer Content: Gardening Tips
The latest free content for your members' websites, blogs, social media pages, and print resources from HouseLogic's REALTOR® Content Resource looks at money saving gardening tips
Comments on the following REALTOR® applicants should be submitted by REALTOR® members to the Membership Committee, c/o GTAR, PO Box 470603, Tulsa, OK 74147.
MLS Waiver:
Jeffrey Bollinger, associated with Bailey-Foristell (First Publication)