The Division of Real Estate, on behalf of the Board of Mortgage Loan Originators, initiated the rulemaking process to update the Board of Mortgage Loan Originators Rules, 4 CCR 725-3.

Purpose of the Rulemaking:
The purpose of the rulemaking is to implement changes to MLO Rules 5.7 and 5.8 by modifying the administrative rules regarding Tangible Net Benefit disclosures to consumers about the benefit of certain loan terms and products, including the required content of the disclosure to be used.

The rule review involved industry stakeholders and public feedback that was established to review the current rules.

As part of the process, the Board of Mortgage Loan Originators will hold a permanent rulemaking hearing on July 16, 2025, commencing at 9:00 am to consider the proposed rules. Please register below for this hearing:

To better assist Colorado licensed real estate brokers and consumers, the Division of Real Estate recently updated the Transaction File Checklist. This important document is posted on the Division’s website and can be located at the hyperlink below this article. As noted on the Transaction File Checklist, and as discussed in the Colorado Real Estate Manual, records of licensed brokerage activity must be retained for four (4) years beginning from the consummation date of the transaction or the expiration date of any listing contracts that do not consummate, in accordance with §12-10-217(1)(k), C.R.S. (Failing to Maintain Records), and Commission Rule 6.20 (Transaction File Requirements). Additionally, Commission Rule 5.21 (Production of Documents and Records) requires any licensee to produce for inspection by the Commission any document or record as may be reasonably necessary for investigation or audit in the enforcement of the Commission statutes and rules.

The Transaction File Checklist is a non-exhaustive list of common records to retain in a broker’s transaction file, including property management files. Not all of the documents listed in the Transaction File Checklist may be applicable to a particular transaction, but if a document was used during the transaction, it must be maintained in the transaction file. Also, there may be additional documents not included on this list that are appropriate for use in a particular transaction; such documents must be maintained if used.

Changes to the Transaction File Checklist

In the most recent revision, the following changes were made to the Transaction File Checklist:

• The Transaction File Checklist is now a fillable .pdf
• Several Sales Files checklist items were added:
  • Definitions of Working Relationships
  • Inspection Report
  • Residential Addendum to Contract to Buy and Sell Real Estate
  • Title-Related Objection Notice
  • Appraised Value Objection Notice
  • Appraised Value Objection Notice Withdrawal
  • Personal Property Agreement
  • Extension or Termination of Contract
• Other Sales Files checklist items were removed:
  • Seller Warning (applicable to foreclosures)
  • Seller Authorization (related to short sales – if applicable)
• For Property Management checklist items, the following were added:
  • Tenant Applications for Executed Lease or Rental Occupancy Agreements
  • Radon Disclosures

(Read More)

The Colorado General Assembly has adjourned for 2025. Do you know if there are any new laws that affect your Common Interest Community? Have there been any changes to the HOA Information and Resource Center? What about information that you need to register your association with the Division of Real Estate?

Several laws affecting these topics were passed this session. Join the HOA Information & Resource Center on Friday, July 25, 2025, at 1:00 p.m. (MT), for an online webinar to discuss the legislative changes implemented by the Colorado General Assembly during the 2025 legislative session. All are welcome to attend.

Presentation Details: 

• Date: Friday, July 25, 2025
• Time: 1:00 p.m. - 2:00 p.m. (MT)
• Location: Online Webinar Only

You may register for the event here:

Life is Busy - We Get It!

Did you miss any of our meetings or forums last month? No need to worry! You can click the links below to catch up and stay current with what is going on at the Division of Real Estate.

- June 3, 2025: Colorado Real Estate Commission (CREC) Meeting:
  Webinar - Video

- June 27, 2025 - HOA Information & Resource Center Forum:                      Registration: Getting into the Nitty-Gritty
  Webinar - Video