8:00 a.m. - 11:30 a.m.
Thursday January 19, 2011
Nopales and Ocatillo Rooms
Indian Wells Conference 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.
Presiding:
Greg Galli, Chair
Virginia Butler, Vice Chair
Issues Chairs:
John Schulte, Risk Management and Liability
Clay Sigg, Transaction
Larry Black, Real Estate Finance
Michael Tessaro, License and Regulatory
Liaisons:
Mel Wilson, Executive Committee
- NAR representative
I. Introductions and Welcome - Greg Galli, Chair
II. Legislative Update
A. Overview of the C.A.R. policy formation process
B. Legislature and state budget developments
C. Member mobilization – DeAnn Kerr
III. Sponsored Legislation - 2012
A. AB 392 (Alejo) - Brown Open Meeting Act reform
B. Degree Broker experience requirements
C. Tax Assessor Appeal Board - Brown Act open meetings
D. Retrofit Requirements - burdens on transactions
E. Debt forgiveness tax safe harbor - pending federal action
IV. Sponsored Legislation - 2011
A. SB 150 (Correa) - CID Right to rent
B. SB 458 (Corbett) - Anti-Deficiency
C. SB 510 (Correa) - DRE manager proposal
D. AB 278 (Hill) - DRE Citation and Fine authority
E. AB 771 (Butler) - CID disclosure fee limitation.
F. AB 392 (Alejo) - Brown Open Meeting Act reform Held on Appropriations Suspense file
G. SB 837 (Blakeslee) - TDS tweak for water conservation
H. DRE Broker experience requirement; approved pending 2012 introduction
IV. Action Items
A. License and Regulatory - Michael Tessaro, Issue Chair
1. DRE proposed regulations
2. Other action items
B. Real Estate Finance - Larry Black, Issue Chair
1. State Bar Proposal: Anti-Deficiency in Refinanced Purchase Debt
2. Proposed legislation: Prohibition on “dual tracking” of foreclosure and short sale actions by lenders
3. Other action items
C. Risk Management and Liability - John Schulte, Issue Chair
1. Real Estate Fraud Prevention Fund surcharge on real estate recordings
2. Other action items
D. Transactions - Clay Sigg, Issue Chair
1. REO Seller Exemption from TDS (Transfer Disclosure Statement)*
2. Other action items
V. Reporting Items
A. Distressed Property Task Force
B. “Door to Door” ordinance, City of Yorba Linda *
C. License and Regulatory - Michael Tessaro, Issue Chair
1. DRE Commissioner appointment process
2. Bills of others - SB 376 (Fuller) - Manufactured home financing
D. Real Estate Finance - Larry Black, Issue Chair
1. Qualified Residential Mortgages (QRMs) update
2. New “Mortgage Tax”
3.GSE and Federal Housing Administration REO Disposition
4. NAR real property valuation principles
5. GSE and FHA loan limits
6.Consumer Financial Protection Bureau
a. Mortgage Complaints
b. Good Faith Estimate
7. National Flood Insurance Program update
8. Rural Housing Program Oversight update
9. GSE "reform"
10. Bills of others - SB 1137 (Perata) Sunset extension proposal
E. Risk Management and Liability - John Schulte, Issue Chair
1. Mortgage Assistance Relief Services (MARS) Short Sale Rule
2. Short Sale Addendums
3. Bills of others
a. SB 221 (Simitian) - Small claims court $10,000 jurisdiction
b. AB 37 (Huffman) - Smart meters
F. Transactions - Clay Sigg, Issue Chair
1. Federal Short Sale Legislation
a. H.R. 1498
b. H.R. 3164
2. Fannie Mae REO platform
3. Bills of others - AB 935 (Blumenfield) - $20,000 foreclosure tax
VI. Other Business
VII. Adjournment
