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Industry News

NAR appoints interim CEO

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Industry News
Thursday, November 2, 2023

The National Association of Realtors (NAR) has appointed an interim CEO. The appointee, Nykia Wright, replaces current CEO Bob Goldberg, who announced his retirement earlier this year. NAR’s newest C-suite executive brings with her leadership and strategy advisory experiences.

“After announcing my decision to retire earlier this year, and as I reflected on my 30 years at NAR, I determined last month that now is the right time for this extraordinary organization to look to the future,” Goldberg said.

Wright is the co-founder of SonicMESSENGER, a software-as-a-service startup with a mission to democratize audience engagement and measurement by leveraging smart audio. She also sits on the board of the American Cancer Society and the Better Government Association. Prior to joining NAR, Wright was the CEO of the Chicago Sun-Times, leading the publication through a digital transformation and a merger with WBEZ. Her resume also boasts time as a strategy and business transformation consultant, where she advised companies and organizations on a variety of operational, financial, and performance improvement matters.

“We are delighted to welcome Nykia as interim CEO,” NAR President Tracy Kasper, a Realtor from Nampa, Idaho, and broker-owner of Berkshire Hathaway HomeServices Silverhawk Realty, said in a release. “Her deep experience driving organizational transformation positions her well to advance our strategy, vision and culture initiatives. I look forward to working with her, in partnership with our leadership team and staff, to continue strengthening our organization.

“We are immensely grateful for Bob’s leadership and decades-long service to NAR,” Kasper added.  “It has been a privilege to work with him in expanding and strengthening our organization, and we congratulate him on his well-deserved retirement. His contributions to our association and our industry have been tremendous.”

In addition to his well wishes for the organization, Goldberg also referred to Wright’s expertise and forward-looking perspective as exactly what NAR needs to continue its mission in today’s environment. He also stated he was grateful to serve as NAR’s CEO, and “confident that the association will continue delivering incredible value to its members for generations to come.”

“NAR advocates for and empowers people who help families across America realize the dream of homeownership,” Wright said. “I am honored to join the organization at this important moment, when the opportunity to make a difference in the evolving real estate landscape has never been greater. I look forward to getting to work and partnering closely with NAR’s talented staff in the months ahead.”

Today's other top stories
Borrower claims several servicers violated RESPA concerning her loan modification
Housing Affordability Act would raise FHA loan limit
House committee votes to slash CFPB funding
HUD provides $1.8M to support housing for those aging out of foster care
Mortgage credit availability plateaus


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12 USC Section 2605 or Section 6 is titled Servicing of mortgage loans and administration of escrow accounts. It pertains to qualified written requests, notices of transfer of servicing and the administration of escrow accounts.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
12 USC Section 2609 or Section 10 is titled Limitation on requirement of advance deposits in escrow accounts. It governs escrow accounts including notifications and statements to borrowers. Section 10 also sets out penalties for those who violate the section.
RESPA Section 3 provides that a thing of value includes any payment, advance, funds, loan, service or other consideration

Regulation X says thing of value includes: monies, things, discounts, salaries, commissions, fees, duplicate payments of a charge, stock, dividends, distributions of partnership profits, franchise royalties, credits representing monies that may be paid at a future date, the opportunity to participate in a money-making program, retained or increased earnings, increased equity in a parent or subsidiary entity, special bank deposits or accounts, special or unusual banking terms, services of all types at special or free rates, sales or rentals at special prices or rates, lease or rental payments based in whole or in part on the amount of business referred, trips and payment of another person’s expenses or reduction in credit against an existing obligation.
A form used by a settlement or closing agent itemizing all charges imposed on a borrower and seller in a real estate transaction. This form represents the closing transaction and provides each party with a complete list of incoming and outgoing funds. RESPA requires the HUD-1 to be used as the standard real estate settlement form in all transactions in the U.S. involving federally related mortgage loans.
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