Targeted Senate Call for Action on Patent Troll Legislation05 Jun

On June 4, the Senate Judiciary Committee overwhelmingly approved S. 1137 the PATENT Act by a vote of 16-4. In advance of the Committee’s action, NAR activated our network of FPCs who work with Senators assigned to this Committee to reinforce the importance of the legislation.  Thanks to all the Senate FPCs who took action! As you can see, it made a difference.

This legislation is a carefully balanced set of patent litigation reforms aimed at curbing abusive patent litigation at the hands of “patent trolls.”  The legislation is now expected to be brought to the Senate floor sometime in July.

REALTORS® across the country have received threatening letters and lawsuits from law firms representing patent holders.  These letters or lawsuits demand licensing fees to use common business tools such as drop down menu’s on website and the scanner function on a copier.  These Patent Trolls buy vague patents and use them to turn everyday business practices into potential lawsuits. We and other small businesses have been the victims of these trolls.

NAR together with our partners in the United for Patent Reform Coalition support this effort, and while we continue to work to improve the legislation, we are pleased with this result. We will continue to work with the Senate to pass a package of reforms that provide Realtors relief from abusive litigation.

For more information on the patent reform issue click here.

Realtors® Applaud CFPB’s Extended TRID Implementation Deadline

WASHINGTON (July 21, 2015) — The following is a statement by National Association of Realtors® President Chris Polychron in support of the Consumer Financial Protection Bureau’s announcement today that the Truth in Lending Act and Real Estate Settlement Procedures Act Integrated Disclosure, or TRID, implementation date has been moved from August 1 to October 3:

“NAR has worked diligently with the CFPB throughout this process, helping to ensure that the upcoming harmonization of TILA-RESPA disclosures is carried out with as little disruption to the industry as possible. In addition, NAR has worked hard to ensure our members have everything they need to comply with the rules while continuing the business of real estate without interruption.

“August is a busy time for Realtors®, as home buying and selling picks up around the summer season. CFPB’s recognition of the challenge that an August implementation posed for the industry is a big win for Realtors®, for lenders, for consumers and for everyone involved.

“An October 3 implementation will help ensure that our industry has time to prepare for the changes ahead while helping consumers get to closing without delay.

“NAR will continue to keep members updated on the rule and ensure they have the tools to comply with the changes coming their clients’ way. We will also continue communicating any Realtor® concerns about the implementation to the CFPB and look forward to a continued partnership as the TRID rule goes into effect later this year.”

Contact Information

Alaska Association of REALTORS®
4205 Minnesota Drive
Anchorage, Alaska 99503

Phone (907) 563-7133
FAX (907) 561-1779
Toll-Free (800) 478-3763

Registration Open

2015 Convention