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Fall 2012 Real Estate Bulletin - California Department of Real Estate - dre ca

Fall 2012 Real Estate Bulletin - California Department of Real Estate - dre ca-2025

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The Fall 2012 Real Estate Bulletin from the California Department of Real Estate highlights a case study involving a real estate salesperson who engaged in fraudulent short sale practices, resulting in felony charges, license surrender, and jail time. It also discusses new legal requirements for self-reporting felony charges and disciplinary actions by licensees, emphasizes the importance of trust account reconciliation, introduces new business activity reporting requirements for mortgage brokers, and outlines changes to broker exam applicant qualifications. The bulletin aims to educate real estate professionals on compliance and ethical standards.

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Click ‘Get Form’ to open the Fall 2012 Real Estate Bulletin in the editor.
Begin by reviewing the case study section, which highlights unethical practices in short sales. Familiarize yourself with the key points as they may inform your understanding of compliance.
Move to the 'Failing to File NMLS Call Reports' section. Ensure you understand the implications of not submitting these reports on time, as it affects MLO license renewals.
In the 'Alert to Licensees' section, note the new legal requirements for self-reporting felony charges and disciplinary actions. Fill out any necessary forms directly within our platform.
For trust account reconciliation, follow the guidelines provided. Use our platform's features to create and maintain accurate records as required by Regulation 2831.2.
Complete any additional sections relevant to your business activities, ensuring all information is accurate and up-to-date before finalizing your document.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What does the California Bureau of real estate do?

The mission of the California Department of Real Estate is to safeguard and promote the public interests in real estate matters through licensure, regulation, education and enforcement.

How to check the status of a real estate license in California?

Go to the California Department of Real Estates website (DRE) at . Click on Licensees in the top menu bar, then click on Verify a License in the dropdown menu.

How do I keep my CA real estate license active?

Key Takeaways: Renew your California real estate license every 4 years. California requires 45 hours of approved continuing education, more than many other states. Prompt submission to the California Department of Real Estate ensures a smooth transition back to active status.

What happens if you let your California real estate license expire?

If you fail to renew your license on-time (prior to your license expiration date), you may renew your license during the two year late renewal period immediately following your license expiration date. However, you cannot perform activities requiring a real estate license until your license has been renewed.

How long can a California real estate license be inactive?

If you dont renew your license before it expires, you are granted a two-year grace period for late renewal. During this period, you must refrain from any activities that require a valid real estate license until your renewal is processed and approved.

What is the maximum amount of time ones license may be involuntarily inactive?

Any license that has been involuntarily inactive for more than 2 years automatically expires and becomes null and void without any further action by the commission or department.

What is the most common violation of Dre?

The most common audit violation related to Regulation 2725, and to BP Code 10159.2 for corporate brokers, is when there are many trust fund handling-related violations demonstrating a lack of oversight by the broker or officer in the area of the handling of trust funds.

How long can a CA real estate license be inactive?

Luckily, the California Department of Real Estate gives brokers and salespersons a two-year late renewal grace period where they can renew their license just by completing the required CE, application, and payment. All continuing education must be completed within 4 years of the filing of the late renewal application.