FTC Will Not Enforce Several Provisions of MARS

The Federal Trade Commission (FTC) announced today that they will not enforce  “several provisions outlined in the Mortgage Assistance Relief Services Rule (MARS) due to feedback from  real estate professionals saying “the disclosures were ‘confusing customers and inaccurate in some contexts’”.  The deferment in MARS enforcement will apply to real estate professionals who are licensed, in good standing under state requirements, and compliant with all laws. Disciplinary action will continue to apply in instances of misrepresentations made to distressed homeowners pursuing a short sale. http://bit.ly/qtB8jV

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