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Flogging, gum in the offender's hair, shunning.
Stevens Point, WI
Nina Hollander, Broker
Candice A. Donofrio
Fort Mohave, AZ
Not sure of the sanctions, but back during the crash I know persoanlly of a few mortgage brokers brought up on charges
Panama City, FL
A guy whom I co-oped with several times went to prison for 8 years for forging mortgage apps during the "crash".
in canada, the competitionn bureau fined an agent and his company 2 million dollars.
Before the Internet Age, the annual continuing education for your license was on "the Honor System". When you renewed your license, you checked a box attesting that you had completed the 14 hours.
The DBPR / Real Estate Commission did random audits, asking a few agents here and there to verify that they had completed the classes.
A multi-million dollar producing top agent who had been in business for years was asked to show proof. She had lied - she just checked the box; she had never taken the courses.
In spite of lawyers, appeals, etc. her license was permanently REVOKED.
I have seen quite a few as I sat on committees for ten years. I was lenient believing that all agents are on learning curves and to make allowances. However my fellow panel members went for the jugular. Fines, suspensions, letters in your file, and a host of other stigma that smarts
License revoked permanently for miss use of Trust Money.
I have heard of a license being revoked and severe fines.
Definitely flogging. And the agent deserved it. KIDDING.
Revocation of license, jail time and restitution bucks are probably as bad as it gets. Which is pretty bad.
Best of luck with your studies
I dont focus on other's mistakes, just the successes.
Slap on the wrist. Promise not to get caught again. Nothing major ever happens unless you violate the law. Know one agent that forged signatures. She'll probably go to jail.
Timothy Larsen Losing one's real estate license over a licensing violation.
Going to jail after the loss of your license should be taken seriously.
Loss of license.
Permanent loss of license along with a big fine. I have known a couple of local attorneys and agents who ended up in federal prison for loan fraud, as well.
Timothy Larsen could be fines, suspension etc. However, I have not heard of it (though likely to hear about it soon...)