BTC Special Newsletter - August 2013

To: Realtors AND Loan Officers            

From: John M. Brennan, Attorney - President, Brennan Title Company



ON JULY 22, 2013, THE MARYLAND REAL ESTATE COMMISSION issued its GUIDELINES FOR LICENSEE'S IN SHORT SALE TRANSACTIONS. These guidelines are a HEADS UP to any agents or brokers who may be negotiating short sales. Specifically, they point out the RISK to agents and Brokers in negotiating short sales with only a real estate agents/broker's license and the limits of protection that agents/brokers may be receiving in their "Errors and Omissions" coverage. In particular you may want to consider the following specific language from these guidelines which says, in part "...the Real Estate Commission and the Commissioner of Financial Regulation consider that negotiation of short sale deficiency agreements or any other type of mortgage collection forbearance with a sellers mortgage lender or servicer falls "OUTSIDE OF THE SCOPE OF A REAL ESTATE LICENSE".
FOR YOUR INFORMATION, enclosed is the entire transmission from Steven Long, Assistant Executive Director.  


Short Sales: MREC Guidelines for Licensees

FOR THOSE OF YOU WHO MAY BE INTERESTED in exploring the required licensing by the "Maryland Mortgage Assistance Relief Act (MD MARS Act) the link is:

PLEASE KEEP US IN MIND when you are choosing your title provider! Try our interactive website for useful information or for a quote on properties anywhere in Maryland, Virginia, the District of Columbia or Delaware. Or contact our West Virginia Affiliate Brennan and Associates for a quote.

AS ALWAYSI welcome your comments and calls! I can be reached on my direct line at

301-261-8177 and by e-mail at



John M. Brennan



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