8:00 a.m. - 11:30 a.m.
Thursday May 5, 2011
Sacramento Convention Center
Mission Statement: The Committee is a Policy committee. Its mission is to develop C.A.R.'s overall policy agenda as it relates to the practice of real estate. It has original jurisdiction to evaluate transactional issues, legislation and regulation in the following issue areas:
Licensure
Liability and Risk Management
Real Estate Finance
Transactional
Each issue area is managed during the Committee's meeting by an Issue Chair, under the direction of a committee Chair and committee Vice-Chair. The Committee has jurisdiction over issues that are potentially real estate related that do not fall into another committee's jurisdiction. The Committee reports to the Legislative or Federal level of government committee(s), as appropriate, and to the Executive Committee and the Board of Directors. (October 2010)
Presiding:
Steve Rosco, Chair
Tim Brigham, Vice Chair
Issues Chairs:
Roseanne Howard, Risk Management and Liability
Barbara Delgleize, Transaction
Virginia Butler, Real Estate Finance
Dennis Pantano, License and Regulatory
Liaisons:
Ruth Hayles, Executive Committee
Jeff Barnett, NAR representative
Staff:
Stan Wieg
Matthew Roberts
I. Introductions and Welcome - Steve Rosco, Chair
II. Legislative Update
A. Legislature and state budget developments
B. Recap of Legislative Day
C. Member mobilization
III. Action Items
A. Real Estate Finance - Virginia Butler, Issues Chair
1. State issues
a. SB 729, Leno - Foreclosure procedure
b. AB 1321, Wiekowski - Recording of deeds of trust
c. AB 376, Fuller - Financing personal property manufactured housing
d. Other
2. Federal issues
a. GSE Refinance Legislation (Boxer; Cardoza)
b. Recommendations of the C.A.R. Distress Property Task Force - Proposed federal legislation
i. Mark-to-Market*
ii. Mandatory Response to Short Sale Request*
iii. Subordinate Lien Short Sale Acceptance*
iv. Safe Harbor (against investor liability for short sale approval)*
v. Lender Recourse on a Short Sale*
3. Other issues
B. License and Regulatory - Dennis Pantano, Issues Chair
1. SB 53 (Calderon), real estate omnibus
a. Citation and fine authority - $2500 vs. $1000
b. Tolling of license renewal during prosecution
c. Publishing existence of disciplinary action
2. SB 6 (Calderon) Valuation opinions - review of exemptions
3. SB 706, Price - Business and Professions Committee bill on DRE
a. Pre-prosecution settlement authority
b. Costs of enforcement included in discipline
c. Merging OREA (Office of Real Estate Appraisers)
4. Other
C. Risk Management and Liability - Roseanne Howard, Issues Chair
1. AB 37 (Huffman) - "Smart Meter" opt out [see Land Use and Environmental materials]*
2. Other
D. Transactions - Barbara Delgleize, Issues Chair
1. Disclosure of marijuana cultivation*
2. Other
E. Other Action Items and Proposals
IV. Reporting Items
A. Sponsored Legislation
1. SB 150 (Correa) - Right to Rent Common Interest Development unit**
2. SB 458 (Corbett) - Anti-Deficiency protections
3. SB 510 (Correa) - DRE designated manager rule
4. SB 837 (Blakeslee) - TDS water device disclosure conformity
5. AB 278 (Hill) - DRE citation and fine authority
6. AB 392 (Alejo) - Public agency agenda (Brown Act) reform**
7. AB 771 (Butler) - Common Interest Development document fees**
8. Broker pre-license experience clarification (2012 legislation)
[**C.A.R. sponsored legislation in other committees]
B. Real Estate Finance - Virginia Butler, Issues Chair
1. Federal issues
a. GSE Reforms status update
b. Loan Limits
c. FHA
d. Condo requirements
e. Seller concessions
f. Qualified Residential Mortgage proposed rule
g. SAFE Act seller finance
2. State issues
a. AB 406 (Davis) - ARM Balloon payment prohibition
b. AB 643 (Davis) - mandatory pre-loan counseling
c. AB 935 (Blumenfield) - $20,000 foreclosure tax
3. Other updates
C. License and Regulatory - Dennis Pantano, Issues Chair
1. State issues - CART (Californians Against Red Tape) and regulatory reform update
2. DRE Commissioner Selection Task Force
3. Other
D. Risk Management and Liability - Roseanne Howard, Issues Chair
1. State issues
SB 221 (Simitian) - Small claims jurisdiction increase to $10,000
2. Federal issues
MARS (federal Mortgage Assistance Relief Services Final Rule)
E. Transactions - Barbara Delgleize, Issues Chair
1. Federal issues
a. Distressed Properties Task Force
b. Short sale response bill
2. State issues
a. Lender outreach meetings
b. AB 643 (Davis) - pre-loan and pre-foreclosure counseling
F. Other Reporting Items
IV. Other
V. Adjournment
" * " Denotes an item with an accompanying issues briefing paper.
“**” Denotes an informational item; lead committee is other policy
committee
