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

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 11:02am 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…

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