Have you ever had questions regarding how to handle seller concessions on the HUD-1 Settlement Statement? Are you part of an Affiliated Business Arrangement but question if it is structured correctly? Do you understand the Consumer Disclosure Law and the Anti-Kickback Law and are you fully compliant? If you would like more information on these and other related issues, then make plans to attend this special fall program.

The seminar will be led by a national authority on real estate finance, title insurance and mortgage banking. Philip Schulman is a partner with the Washington, D.C. law firm of K & L Gates and has developed and analyzed business plans, agreements and disclosures based on RESPA, state licensing laws, usury laws, unfair and deceptive trade laws and real property laws. He was also the former Assistant General Counsel of the Inspector General and Administrative Proceedings Division of HUD. He has authored dozens of articles on issues affecting the settlement service industry and co-authored A Practical Guide to the Real Estate Settlement Procedures Act.

This course is designed to help real estate agents avoid penalties for failure to comply with RESPA rules and regulations. The instructor will share the types of disclosures real estate agents must make to buyers and sellers about the costs of the transactions. The anti-kickback law will be explained to help agents recognize and avoid abusive practices. The provisions of Section 8 (a), (b) and (c) will be thoroughly covered. Splitting fees may be problematic and you'll also learn about the exceptions where paying a referral fee is OK. HUD means business. RESPA enforcements and areas of concern will be shared.

Scott Rinn, Policy Representative, Business Issues Regulatory Relations of the National Association of REALTORS^® will also participate in the seminar and will moderate and lead a panel discussion featuring Dana Strandmo, Home Services; John Anderson, Twin Oaks Realty and Phil Schulman on RESPA issues and Affiliated Business Arrangements.

The class is being offered on Wednesday, October 22, 2008 at the Sheraton Hotel in Bloomington. Arrival and check-in begins at 1:30 pm and the program will be from 2:00-5:00pm. The course has been submitted for 3.0 hours of real estate continuing education credit and approval is pending. Advance registration is $25 and on-site registration (if available) will be $50. Seating is limited to 400 and registration will be accepted on a first come, first serve basis. Register early to attend the first of it's kind program to be offered in Minnesota. Click to register!

All attendees of the program are also invited to a Networking Reception immediately following the seminar, sponsored by MNAR. At the end of the reception, MNAR will acknowledge and thank the 2008 Committee Chairs and Officers and will install the 2009 MNAR Leadership Team. There is no cost to attend the reception. Hors' devours will be provided and a cash bar will be available. We hope you will join us at the reception.