Rule Review for Mortgage Loan Originators and Mortgage Companies
The Division, on behalf of the Board of Mortgage Loan Originators, is currently conducting a review of the administrative rules regarding mortgage loan originators and mortgage companies. The review will assess the continuing need for, appropriateness, and cost-effectiveness of the regulations. The assessment will also determine whether the rules should be continued in their current form, modified, or repealed. As part of the rule review process, the Division seeks the participation and input from stakeholders regarding the existing rules as well as any proposed changes to the rules. You must use the Stakeholder Input form below to submit your comments. The Division is accepting comments through January 1, 2020.
Colorado Real Estate Commission Adopts Rules, Effective January 1,2020
The rules have been re-organized, re-indexed, re-formatted into nine (9) chapters, as well as being written in plain language for easier use and understanding of the Real Estate Practice Act. These rules are effective beginning January 1, 2020.
To assist with the review of the rules, the Division has highlighted the significant substantive changes to the rules. Please click the link below to read the rules and the summary of the substantive changes.
The Division recently sent a notice due to consistent errors in the purchase of errors and omissions (E&O) insurance policies by responsible brokers and individual proprietors. In the vast majority of cases we are seeing licensees purchase entity policies while omitting the individual policy requirement when purchasing their policy.
Remember, failing to purchase an individual policy while purchasing an entity policy could result in the inactivation of your license (and the licenses of any employed licensees) during the Division’s annual E&O audit.
In 2016, the General Assembly enacted S.B. 16-163, which directs the Office of Legislative Legal Services (OLLS) to conduct a study of an organizational recodification of Title 12 of the Colorado Revised Statutes governing the regulation of professions and occupations. Title 12 currently contains only laws pertaining to professions or occupations regulated by the Department of Regulatory Agencies through either the Division of Real Estate (Division) or the Division of Professions and Occupations.
The Division has done an exhaustive review of all the content it provides that references Title 12 and as of October 1, 2019, has replaced those references pertaining to Title 12, Article 61, with the new Title 12, Article 10 statutory language.
As per the Governor’s Executive Order, the Department of Regulatory Agencies (DORA), through the Division of Real Estate (Division), will conduct a comprehensive review of existing and potential laws and recommend strategies to promote effective and efficient regulation of Community Association Managers (CAMs) and Homeowners’ Associations (HOAs).
Change in Venue for the October 8, 2019 Stakeholder Meeting
In the month of September interested stakeholder meetings have been conducted at the DORA offices. The last meeting to be held in this process is on Tuesday, October 8, 2019, from 9:00 am to 11:00 am, and will be held at the Colorado State Capitol, 200 E. Colfax Ave., Room 271 (the old State Library room), Denver, CO 80203.
Meeting Topic
The topic of this meeting is: “Strategies to promote homeowner rights and consumer protections through an evaluation of the Colorado Common Interest Ownership Act and other related acts or rules”.
Each month our HOA Information Officer provides a digest of all the news associated with HOAs in the State of Colorado. Take a moment and get caught up.
Webcast any of the Division of Real Estate meetings or HOA Forums by clicking on the event date below to register for the live webcast.
October 2019
Colorado Real Estate Commission Meeting
Community Manager and Homeowner Association Stakeholder MeetingTopic: Strategies to promote homeowner rights and consumer protections through an evaluation of the Colorado Common Interest Ownership Act and other related acts or rules.
HOA Roundtable - Littleton
HOA Ask-A-Specialist Series - Dispute Resolution
Council of Neighbors & Organizations Neighborhood Mixer
November 2019
HOA Forum - Roundtable (Littleton)
HOA Ask-a-Specialist - Special Districts and HOAs
HOA Forum - Boulder
Board of Real Estate Appraisers Meeting
HOA Forum - Roundtable (Denver)
Board of Mortgage Loan Originators Meeting
HOA Upcoming Forums
Attend a forum to learn about the Colorado HOA Information and Resource Center and meet the HOA Information Officer, Shanneyvie Johnson. You will have the opportunity to voice your questions and concerns regarding HOAs. At the forum, helpful resources will be provided alongside a discussion of the rights and obligations of living in an HOA community. Topics and locations change monthly.
Seating is limited, please RSVP to: shanneyvie.johnson@state.co.us, or go to the Division’s Events Calendar and click on the registration link located in the event details for a live webcast.
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