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2007 Legislative
Accomplishments for AAR
HB 205 - An Act
relating to real estate broker and real estate salesperson
licensing. Sponsor: House Labor & Commerce -
The Alaska Association of REALTORS® developed a task force to
address the issue of adequate supervision and made the
following recommendations which will clarify and strengthen
a number of items in the current statutes and increase
consumer protection in home buying and selling process. HB
205 will require a real estate broker to adopt written
policies and procedures that would be available to the
public on request. The policies and procedures would
require all real estate licensees to; comply with all real
estate laws; act fairly and honestly in all dealings; notify
their broker or broker designee in the event of any legal
dispute or allegations of wrong doing; and maintain regular
communications with their broker or broker designee.
HB 205 also clarifies the issue of operating multiple
offices and the responsibility of a broker that resides out
of state. It also establishes that a person indicted
for a felony involving moral turpitude can not obtain a real
estate license until seven years has lapsed since the
completion of the sentence. This billed passed and will
be signed by the Governor.
HB 162 - An Act relating to mortgage lenders, mortgage
brokers, mortgage originators, state agents who collect
program administration fees, and other persons who engage in
activities relating to mortgage lending; relating to
mortgage loan activities; relating to an originator fund;
relating to fees for mortgage loan transactions. Sponsor:
Representative Lynn.
The
Alaska Association of REALTORS® supports HB 162, which would
give the Division of Banking the regulatory authority to
protect Alaska consumers from Fraud, questionable lending
and mortgage brokering practices.
The
Association is in favor of the bill because Alaska is the
last state not to
license
or regulate residential mortgage lending. Currently the
Alaska Division of Banking and Securities receives over 50
complaints a week regarding questionable lending practices
and they have no authority to pursue the complaints. Access
to internet lending has accounted for increased the number
of complaints.
The
regulating of Alaska’s mortgage lending industry is
supported by the Alaska Division of Banking and Securities,
the Alaska Mortgage Bankers Association, the Alaska Mortgage
Brokers Association the Independent Lenders of Alaska and
Alaska Housing Finance Corporation.
Accountability in the mortgage ending industry is past due.
This bill will enable the Division enough licensing and
regulatory authority to begin addressing the increase number
of complaints from Alaska’s homebuyers.
This bill passed and will be signed by the Governor.
HB 175
- An Act limiting the exercise of eminent domain. Sponsor: Representative Johnson
The
Alaska Association of REALTORS® supports HB 175, which
strengthens an individual’s property rights by protecting
privately owned recreational structures from the exercise of
eminent domain for recreational purposes.
Alaska is different from
many states in that we have a lot of recreational property
and second homes. We are also a developing state, and over
time many of these recreational properties become primary
residences. The issue of recreational property takes on many
issues depending upon the location of the state you reside.
The Alaska Association
supports AS 09.55.240 which limits the governments’
authority to exercise eminent domain and seize personal
residences by clearly outlining its legitimate use and by
prohibiting its exercise for the purpose of economic
development or to generate government revenues.
HB 175 will give
privately owned recreational structures the same protection
from government seizure already granted to personal
residences in AS 09.55.240 and will strengthen the right of
private ownership. This bill did not passed this session.
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