REW PREN Hacking Action POST Removed!

Posted on March 4, 2008
Filed Under Real Estate News | 2 Comments

Updated March, 10th 2008

After reconsidering my post about the potential legal action proposed by attorneys against REW, I’ve decided to remove the post to DRAFT state until I’m handed the URL to the website for the alleged Class Action Investigation.

As posted in a few blogs regarding real estate news, the information about the pending suggestions by the Justice Department are accurate and no fear of libel on my end concerns me.  But the idea of a class action initiation in the works requires me to hold that in limbo until I verify more than I already had.  Although I deem news worthy real estate events a favorite topic for publishing in my blog, I like to be certain that information is reasonably accurate and based solely on either solid facts from trusted information sources or express first hand knowledge.  Both of which keep writers out of hot water in regards to potential libel.

I will re-publish the details regarding the REW investigation later in the month when I get more information I can provide for examination and authentication by readers of my blog. 

I DO NOT HAVE THE URL FOR THE CLASS ACTION DOMAIN RELATED TO REW! Once that URL is verified I’ll republish the information given to me.

Updated:  I’ve discovered that the US Government tends to view companies who practice in ways that are anti competitive more agressively than in previous years largely due to the new anti-trust and anti-fraud laws having been passed since the Microsoft anti trust lawsuit.  I’ll keep you posted as news is given to me.  I make mention of this in response to several emails regarding this information.

Special Thanks: Thanks to those who sent emails regarding yet countless other events potentially facing the above mentioned.  I’ll not publish anything until more details are available.

Are Realtors at risk with Obama’s plan

Posted on March 3, 2008
Filed Under Real Estate News | Leave a Comment

Barack Obama’s Proposed STOP FRAUD ACT; The right move?

I rarely if ever write about political issues as you know but some things pop up from time to time that make such writings necessary.  Given the proposed STOP FRAUD ACT by Presidential hopeful Barack Obama, such deems necessary to mention considering the ramifications that could surface. 

Concerns are being discussed all across the internet regarding this matter and serious concerns have been brought up that should make this a big red flag of what NOT to do. Many feel the vagueness in defining who is responsible and who isn’t could result in truly tragic injustices being parlayed against legitimate professionals in the Real Estate industry.   PREN Forums  published a thread now getting a great deal of attention regarding this potentially dangerous move. Although some action should be taken against fraudulent behavior by those who practice with such unethical conduct, this potential act could spell disaster for the industry.  I’ll elaborate in subsequent posts as to why later.

So who is affected by this potential ACT?

  • Real estate appraisers
  • Real estate accountants
  • Real estate attorneys
  • Real estate brokers
  • Mortgage brokers
  • Mortgage underwriters
  • Mortgage processors
  • Mortgage settlement companies
  • Mortgage title companies
  • Mortgage loan originators
  • Any other providers of professional services engaged in the mortgage process

 

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