Todd J Sullivan J.D.
  • Male
  • Scottsdale, AZ
  • United States
  • AZ
Share on Facebook
Share

Todd J Sullivan J.D.'s Friends

  • Ken Cuellar
  • Jim Schneider
  • Craig Barry
  • Ron Margolis, RA
  • Karen Mathers

Todd J Sullivan J.D.'s Discussions

SAFE ACT: REALTORS AND ATTORNEYS CANNOT NEGOTIATE SHORT SALES (who can?)

Started this discussion. Last reply by Kevin Hardin Jun 13, 2011. 29 Replies

(DON'T KILL THE MESSENGER....) From the FTC MARS Rule to the SAFE ACT, who can actually negotiate short sales anymore?  According to the Arizona Department of Financial Institutions, a Realtor CANNOT…Continue

Tags: Financial, Institutions, of, Department, ACT

FTC MARS: NAR's LETTER REQUESTING EXEMPTION FROM THE RULE AND THEIR RESPONSE WHEN QUESTIONED

Started this discussion. Last reply by Kevin - Greenville, SC Jul 15, 2011. 15 Replies

I've been hollering about this for the last several weeks; the total failure of NAR to defend, notify and assist it's membership with the FTC MARS RULE.  As such, I am posting NAR's letter to the FTC…Continue

UNDER FTC MARS RULING, REALTORS CANNOT NEGOTIATE SHORT SALES WITHOUT BEING IN COMPLIANCE ($11,00 penalty per day)

Started this discussion. Last reply by Lisa Henderson Mar 2, 2011. 61 Replies

This new ruling (16 CFR Part 322) came in under the regulatory framework of the FTC and very people or organizations seem to be aware of it.  Please read the ruling.  Footnote 126 directly refers to…Continue

FTC MARS Ruling Affecting 3rd Party Negotiators (Cannot Take Upfront Fees)

Started this discussion. Last reply by Richard Kirk Jan 24, 2011. 7 Replies

The FTC MARS Ruling (16 CFR Part 322) as issued December 1, 2010 has far reaching implications.  As I did not see a prior discussion over this ruling (if I missed it, I apologize), I thought I should…Continue

Tags: Negotiators, Sale, Short, MARS, FTC

 

Todd J Sullivan J.D.'s Page

Latest Activity

Todd J Sullivan J.D. commented on Wendy Rulnick's group Short Sale Commander
"Lee called and Josh then called. They had everything operational (plus - the personal phone calls) in less than half an hour. I've managed more then a few companies - if you have a concern about trusting your mission critical data with Short…"
Feb 5, 2013
Todd J Sullivan J.D. commented on Wendy Rulnick's group Short Sale Commander
"Actually, it's our custom pipeline that won't load. The standard pipelines load fast."
Feb 5, 2013
Todd J Sullivan J.D. commented on Wendy Rulnick's group Short Sale Commander
"Has anyone been able to load up their Pipeline? I'm stuck - no load, just twirls around and around..."
Feb 5, 2013
Todd J Sullivan J.D. commented on Wendy Rulnick's group Short Sale Commander
"Thanks! tjs"
Feb 5, 2013
Todd J Sullivan J.D. commented on Wendy Rulnick's group Short Sale Commander
"hmmmmm. Maybe I should go golfing today? Oops, nope. I think there's a foreclosure coming up somewhere in one of my SSC files. I must say, SSC has always been super responsive and helpful when we've had a problem. Systematic upgrades must…"
Feb 5, 2013
Todd J Sullivan J.D. commented on Wendy Rulnick's group Short Sale Commander
"SSC Upgrade is playing hell with our services! Is anyone else having problems? It's taking 5 minutes to load (if it doesn't time out) and I've reset our systems twice and tried different browsers.  Thanks! tjs"
Feb 5, 2013
Todd J Sullivan J.D. joined Wendy Rulnick's group
Thumbnail

Short Sale Commander

How to use Short Sale Commander to grow your short sale business.See More
Feb 5, 2013
Todd J Sullivan J.D. commented on Stephanie Lim's group FHA - HUD Short Sales
"Thanks Kevin, That's what I thought. Always good to pull a full title report first..... Even if Title doesn't want to. Trust what your client says? hmmmmmm."
Jan 31, 2013
Todd J Sullivan J.D. commented on Stephanie Lim's group FHA - HUD Short Sales
"Help with a Short Sale and Partial Claim that popped up (thank you client!) in second lien position.  Question: the short seller completed the loan modification 2 years ago. Title stated that a Partial Claim may be removed if the loan…"
Jan 31, 2013
Todd J Sullivan J.D. joined Stephanie Lim's group
Thumbnail

FHA - HUD Short Sales

HUD rules for FHA short sales, tips, experiences, etc.Fax LOA:  918-236-3274PH 877 622-8525See More
Jan 31, 2013
Mike Mondy replied to Todd J Sullivan J.D.'s discussion Nationstar on Equator DEMANDING an AGENT PAID/SUPPLIED BPO?? What's Up with That? in the group NationStar Mortgage
"I'm also going through this as we speak.  I've got a short sale where we've just received our third (and best) contract since beginning this process almost a year ago and the last Nationstar/FNMA counter was about $30k above…"
Jan 2, 2013
Rain Silverhawk replied to Todd J Sullivan J.D.'s discussion Nationstar on Equator DEMANDING an AGENT PAID/SUPPLIED BPO?? What's Up with That? in the group NationStar Mortgage
"I have a nightmare going on with Nation Star right now.  The first offer was approved at 110k  The buyer fell out right before closing and we had back up offer for 114k.  The negotiator did a soft denial and we got the new one…"
Nov 26, 2012
Pamela Lester replied to Todd J Sullivan J.D.'s discussion Nationstar on Equator DEMANDING an AGENT PAID/SUPPLIED BPO?? What's Up with That? in the group NationStar Mortgage
"Hmmmmm, Ok on Tuesday I will try the Senator route.  Thanks Joe."
Nov 11, 2012
joe beauchamp replied to Todd J Sullivan J.D.'s discussion Nationstar on Equator DEMANDING an AGENT PAID/SUPPLIED BPO?? What's Up with That? in the group NationStar Mortgage
"Look around this forum and you'll see messages including pointing to TV news about FNMA jacking up prices wildly. Your buyer doing an appraisal is irrelevant - just like the BPO being on target and FNMA throwing in an extra $50K. You need to…"
Nov 10, 2012
Pamela Lester replied to Todd J Sullivan J.D.'s discussion Nationstar on Equator DEMANDING an AGENT PAID/SUPPLIED BPO?? What's Up with That? in the group NationStar Mortgage
"My first short sale attempt with Nation Star.... I listed the property at FMV and we received an offer.  A BPO was completed by another office.  Off the record I asked the agent what her BPO came in at.  It was very close to my…"
Nov 9, 2012
Kevin - Greenville, SC replied to Todd J Sullivan J.D.'s discussion Nationstar on Equator DEMANDING an AGENT PAID/SUPPLIED BPO?? What's Up with That? in the group NationStar Mortgage
"WOW!! They sent you an invoice for a BPO? That's a new one on me.  I'd send them a bill for my monthly MLS Dues in return."
Nov 7, 2012

Profile Information

First Name
Todd
Last Name
Sullivan
State
AZ
City
Scottsdale
My Profile
I am the managing partner for THE LAWYERS GROUP, an Attorney-CPA Assisted Real Estate and Short Sale transactional firm. I have a JD from Gonzaga School of Law and having recently moved to Scottsdale, AZ. My firm's website is www.lawyersgroup.co and wwww.strategicshortsale.co.

Todd J Sullivan J.D.'s Blog

MARS RULING LEGAL OPINION LETTER ($11,000 per Fine per Day)

Posted on March 18, 2011 at 3:02pm 3 Comments

 

 

In Arizona, we have been battling over the application of the FTC MARS Ruling to Realtors and/or any other individual or entity handling short sales.  Over the last several weeks, it has become clear that the Rule applies directly to all Realtors and/or Negotiators handling short sales.  I thought I would share my law firms Legal Opinion Letter which includes how to be in compliance with the Rule. I have had half a dozen consultations on brokers inquiring into the rules and…

Continue

Comment Wall

You need to be a member of Short Sale Superstars to add comments!

Join Short Sale Superstars

  • No comments yet!
 
 
 

Members

Badge

Loading…

© 2017   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************