2017 NCREEA Fall Conference September 14-15, 2017

The 2017 NC Real Estate Educators Association Fall Conference will be held in Old Winston Salem at the Hawthorne Inn and Conference Center

Click Here to Register Electronically

Download the full Thursday and Friday Schedule Here

The edge of Old Salem in Winston Salem is the site for the 2017 NCREEA Fall Conference. Our theme Partners in Excellence will focus on the celebration of relationships and the creation of collaboration in North Carolina Real Estate Education. We look forward to seeing you for some unique and insightful discussions from industry leaders, other instructors and even students and our brokers. After all, we are all in this together.


We have reserved a block of rooms for Wednesday and Thursday night at the Hawthorne Inn & Conference Center for only $109.00 per night and include hot buffet breakfast! Make your reservations early. We have a room block of 40 rooms for 9/13 and 40 rooms for 9/14. When they are gone, they are gone. Click here to reserve your room.  Use the code:  26R8LD to get the discounted rate for NCREEA 

(336) 777-3000. Cut off date is August 14, 2017.

We will be holding a social event on Thursday evening at the Historic Brookstown Inn. The conference is just a short walk from downtown Winston Salem or the Strollway through the heart of Old Salem.

Popular Tech Day Returns

One of the most popular features of the NCREEA Fall Conference over the last few years has been our Tech Day held the day before the conference, Wednesday September 13 at the conference hotel from 11am-5pm. We will be continuing this great tradition.

This year’s Tech Day has room for 60 people in the Sycamore Rooms & Laurel Learning Center inside the Hawthorne Inn & Conference Center. We will be focusing on building instructor collaboration and resources. Bring your laptops and your ideas for this interactive, engaging and collaborative tech adventure through real estate education.

Links to New Closing Documents

With all of the discussion on the new Closing and Settlement documents, we decided to share the PDF files from the Consumer Financial Protection Bureau.  Each of these provides a hot link for you to download the files.


Closing Disclosure


Loan Estimates


Seller Closing Disclosure


Refinance with no Seller


2015 Real Estate Closing Documents HUD Forms provided by NCREEA

North Carolina Real Esate Educators Conference Highlights – NCREEA

These are bullet point highlights of topics and information discussed at the North Carolina Real Estate Commission’s Spring Educators Conference held Monday March 16 and Tuesday March 17, 2015 at the Embassy Suites in Cary, North Carolina.


North Carolina Real Esate Educators Conference Highlights – NCREEA

NCREC State of the Commission – Miriam Baer

  • Legislative staff interested in combining al Licensing Boards into one oversight board that handles all including doctors, cosmetologists, etc.
  • NCREC recommends no on this.
  • If there is an issue with NCREC web site, contact Miriam@ncrec.gov
  • BICAR to BICUP has been well received. Challenge is integrating the extra material into the update course.
  • New edition of North Carolina Real Estate Manual. Goal is to be an educational resource rather than a legal treatise.
  • All forms on NCREC.gov are not fillable, so you should be able to fill it out on line. Next goal is to have them submittable.
  • Private School Bulletin Template under forms and is fillable. Not mandatory but helps you do a compliant bulletin.
  • As of Feb 28, 2015, first upward trend in total number of licensees since June 2007.  Approximately 83,533 licensees plus 10,961 firms for a total of 94,494 licenses.
  • 57,886 Active full broker status licenses and 12,000 plus Active PB licenses
  • Expectation of over 6,400 broker license applications in 2014-2015 FY


License Law and Commission Rule Changes- Bruce Moyer

  • Rule changes can be found in the booklet, “Real Estate Licensing In North Carolina,” also known as RELINC.
  • Rule A.0104- Broker owned properties- If a Broker owns a property, he/she cannot represent the buyer
  • Rule creates BICUP and eliminates rule A.0110
  • Make sure to start BICUP with who is eligible for credit in the class
  • A.0114- RPD Is the property in violation of any zoning ordinances
  • A.0404- Exam related conduct
  • A.0503- Beginning May 15, 2015, all licensees will be REQUIRED to renew on line.
  • A.1709 CE Extension of time- must be submitted on active status and submitted prior to June 10
  • C.0209 Post Licensing- no more than 21 hours during any given 7 day period. NCREC can withdraw or deny credit for course if the student has an overage.


Summary of Instructor Task Force Findings- Bruce Moyer

  • Course Completion Certificates may be delivered electronically to students
  • Pocket card info- Bar code could supply additional information to allow school to know student license status and know when a student will or will not receive credit. Combo of Bar Code and QR codes could expedite registration
  • End of course exam data- send student names and emails, number of students who started the course, number who completed the course and number of students that passed the course exam.
  • NCREC  would provide links to relevant web sites, case studies, sample quizzes, math problems, sample games, suggested topics for group discussion, power point suggestions, videos, practice questions/answers
  • Consider online tutorial for School Directors outlining their responsibilities.
  • Consider creation of online tutorial for CE Coordinators outlining their responsibilities
  • Clarification of NCREC rule C.0206(b)(1) to require at least a baccalaureate in the field of education
  • Revise the real estate manual to be more educational and less academic
  • New measurements for instructor evaluation
  • Required quizzes and/or midterm examinations for pre-license courses. Ongoing assessment will better serve students
  • Online or blended learning for prelicense and postlicense courses.


New Closing Disclosure Rules presented by Kimberly Rosenburg, President of Attorneys Title

  • Closing docs must be presented to Buyer a minimum of three days before closing. (Saturdays count, Sundays do not, Federal holidays do not count)
  • Sellers will not see the Buyer’s portion of the closing.
  • CFPB (Consumer Financial Protection Bureau)is the oversight for these regulations on mortgages and loans. Forms are nicknamed “Know Before You Owe”
  • Implementation date is for loans ORIGINATED on or after August 1, 2015. There will be a period where both methods will be used at the same time.
  • Residential loan transactions except manufactured homes, cash transactions, reverse mortgages and creditors that do less than 5 transactions per year.
  • “Loan Estimate” replaces the Good Faith Estimate for purchasers.  All lenders must use this form.
    • Page 1- Key mortgage terms including: Loan Amount, Interest Rate, Monthly P&I, Prepayment penalty, Balloon Payment, Mortgage Insurance, Estimated Escrow, Estimated total payment, Estimated Taxes, insurance and assessments, estimated closing costs and estimated cash to close.
    • Goal is to compare loan offers from multiple banks at the same time.
    • Closing Cost Details on page 2
    • 5 year comparison on page 3:
      • Comparisons as 5 yr, APR and TIP
      • Other Considerations: appraisal, assumption, HO insurance, Late Payment, Refinance, Servicing
      • Confirmation of receipt
      • Page 1 of closing disclosure breaks down loan terms, projected payments, closing costs and Cash To Close.
      • Page 2 is a breakdown of closing costs paid by seller, buyer and others.
      • Page 3 is a summary of the transaction. Buyer sees the Seller side but the Seller will not see the mortgage information on the Buyer’s side of the transaction.
      • Page 4- Additional information about the loan that includes Assumption, Demand Feature, Late Payment, Negative Amortization, Partial Payments and Security Interest and the Escrow Account.
      • Page 5 includes substantially the same information as a Truth In Lending Disclosure plus the contact information for the lender, mortgage broker, Buyer Agent, Seller Agent and the settlement agent (closing attorney in NC)
      • Separate closing disclosure for Sellers is two pages long.
      • It could be possible that a borrower who terminates a transaction before Due Diligence could be liable for some attorney fees because of the banks rushing title searches from Closing Attorneys.
      • There will be a greater importance on the part of Real Estate Licensees to get invoices and all costs to the closing attorney as quickly as possible to prevent closing delays.
      • Banks will be taking more control of the title search process and will want to handle changes to the closing statement. That itself could cause some delays when large banks want more control over that.
      • Banks are now required to vet all third parties in the closing process. That means that attorneys will be scrutinized by the banks before they will be allowed to work with them.
      • Wiring instructions can no longer be given to attorneys via email. The message will need to be encrypted.



Revised Real Estate Manual, Oil & Gas Disclosure and the New Settlement Forms & Broker Responsibilities- Tricia Moylan

  • Tricia went over the revisions to the 2015-2016 Real Estate Manual and handed out a sheet with the notes. These docs are available on the File Share from the NCREC.
  • Errors on Figures 8-2 and 8-3, they are listed as 8-3 and 8-4
  • TRID= Truth In Lending, RESPA, Integrated Disclosure
    • This document was created to merge the Truth In Lending and RESPA disclosures into the same document for more clarity in the transaction.
    • Mineral, Oil & Gas Disclosure Statement: Article by Charlie Moody in October 2014 from NC Real Estate Bulletin
      • One page form
      • All owners who must provide RPD must provide MOG
      • Also requires it for lease to purchase and new construction,
      • Vacant land is not required to use MOG


How the New Settlement Forms Impact the Licensing Exam- Anita Burt

  • Closing Worksheet (Part A and Part B) will be eliminated
  • The Closing Disclosure Core will replace it using pieces from the new Closing Disclosures from CFPB
    • The “Closing Cost Details” page (page 2 of 5 on the new closing documents) will be used in its entirety with “At Closing” and “Before Closing” sections under headings of “Borrower-Paid,” “Seller Paid” and “Paid By Others.”
      • Section J- Closing Cost sub totals will definitely be used on Borrower and Seller side of this form as the answer to test questions.
  • Page 3 of 5 labeled, “Summaries of Transactions” will also be used
    • The “Cash To Close” from Borrower and “Cash To” or “Cash From” Seller will also be the answer lines for testing purposes. (matching up with line 303 and 603 from current HUD1 Statement.
    • Change will occur Saturday August 1, 2015 for the license exam
    • Pre-license courses ending July 15 or after must use new exams
    • Recommendation to students to complete exam before August 1.
    • Schools will need to prepare for these changes as there is not a significant amount of time for preparation.
    • The NCREC provided a sample question as a basis for other questions to be developed from.

NCREEA Well Represented At DREI Summit

North Carolina was well represented at the recent DREI Summit in January. Don’t forget that the summit is being held in Charlotte in 2016!

We would love to see some of our members become DREIs next year in Charlotte.


Front Row (L-R): Len Elder, Kim Stotesbury, Deborah Carpenter, Corean Hamlin, Dana Rhodes, Oscar Agurs, Arvil Price

Back Row (L-R):  Sam Henderson, Bruce Moyer, Terry Wilson

NCREEA Members who hold the DREI designation attended the DREI Summit in January 2015.

NCREEA Members who hold the DREI designation attended the DREI Summit in January 2015.

Board of Directors Meeting Blog- Greensboro, NC October 24, 2014

Follow our blog today to get updates on the discussions that the Board of Directors is having and any votes that are taken.


  • In a unanimous vote, the BOD has agreed to raise the annual membership dues for NCREEA to $40 per year. This fee will begin with the 2015 membership renewals.
  • The tentative dates of the 2015 fall conference are October 1, 2015 and October 2, 2015 at the Marriott South Park in Charlotte, NC.  Please go ahead and save that date on your calendars.
  • Renewals for the 2015 year will only be done electronically with link sent to the membership in the late spring.
  • Registration for the 2015 fall conference will be done on-line only.
  • Created a “New Member Checklist” to systematize the processing
  • Creation of a “Donation Receipt” for when an organization or individual makes a donation to NCREEA for door prizes, etc.