Watch for Illinois REALTORS® October housing report tomorrow

Geoffrey J.D. Hewings

Illinois REALTORS® will release its October 2017 housing report Tuesday morning, with data breakdowns for the state of Illinois, city of Chicago and the nine-county Chicago Primary Metropolitan Statistical Area (PMSA).

Also included will be a housing market forecast by Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois.

Members of the statewide association can access member-only market statistics by using their passwords.

Silver says Leadership Development ‘invaluable.’ Apply by Nov. 30

Matt Silver, CRS, GRI, Immediate Past President, Chicago Association of REALTORS® and Illinois REALTORS® Board of Directors

Matt Silver, Partner and Senior Broker at Urban Real Estate in Chicago, credits the Illinois REALTORS® Leadership Development Program for his rise up the ranks of association leadership. Silver is immediate past president of Chicago Association of REALTORS® and serves on the Illinois REALTORS® Board of Directors.

“After having just completed my term as President of the Chicago Association of Realtors, I truly owe my run up through the chairs, and the confidence to do so,  to my Illinois REALTORS® Leadership academy experience,” Silver says. “I met future leaders and gained the insight and knowledge necessary to determine MY style and to be confident and comfortable moving into these positions.”

Applications are due November 30 for the program, which only accepts 12 new candidates per year: Apply now.

“The detailed knowledge base and in-depth insights to our state Association was worth it alone,” Silver says. “The why and how of Illinois REALTORS® lobbying efforts, and my own for that matter, regarding the political landscape enabled me to have a grassroots base of knowledge (FPC Role) and awaken my desire to be active at the Local, State, and National levels supporting the REALTOR® Party.”

Silver says the benefits of the program go beyond exploring your leadership potential. “This isn’t just a leadership program but a life-altering series on introspection and the creation of bonded friendships,” he says.

Learn more and apply at


Don’t miss out on the Leadership Development Program in 2018; apply by Nov. 30

Whether you have the ambition to assume a leadership role in a local, state or the National Association of REALTORS®, make sure you apply by Nov. 30 to be a part of the Illinois REALTORS® Leadership Development Program for 2018.

Twelve individuals are selected to participate in the program, which meets several times a year for training modules that focus on public speaking and media relations, government affairs and a workshop about working with different personality types. Matt Difanis, 2018 Illinois REALTORS® President, and a graduate of the 2012 leadership program, invites you or a colleague to apply.

Get an application and more information.

What does Cordray’s departure mean for CFPB and real estate industry?

Wednesday Richard Cordray announced he will resign at the end of the month as the director of the Consumer Financial Protection Bureau (CFPB), causing speculation about the future of the bureau, according to Inman Select.

President Trump has not announced any changes for the CFPB or a replacement for Cordray.


The CFPB was created in 2010 following the country’s financial crisis in 2007-08. Cordray was appointed director by President Barack Obama in 2011. However, since its inception, the bureau has had critics who didn’t like its structure or its power and the changes it brought to the mortgage loan and the auto loan processes. The Washington Post noted that conservatives and the Trump administration would like to reduce the amount of financial regulation in Washington.

In 2015, the CFPB implemented the TILA-RESPA Integrated Disclosure Rule (TRID) with the aim to make the mortgage process easier for consumers to understand. Despite some confusion about TRID following its implementation, the CFPB updated its rules in July 2017 to make it easier for agents and brokers to access the Closing Disclosure.

NAR reacts to House passing its tax reform bill

WASHINGTON D.C. – The United States Capitol is the meeting place of the United States Congress the legislature of the U.S. federal government. (Bigstock Photo)

The National Association of REALTORS® President Elizabeth Mendenhall pledged to work with members of the U.S. Senate on more equitable tax reform for middle class Americans after the U.S. House of Representatives voted 227-205 Thursday to pass H.R. 1, also known as the “Tax Cuts and Job Act.”

Elizabeth Mendenhall

“American homeowners shouldn’t have to pay for corporate tax cuts with their home equity,” said Mendenhall. “It’s a matter of basic fairness; 1.3 million REALTORS® have known since the beginning, and America’s 75 million homeowners are just beginning to learn, that homeowners will be the ones paying the tab. REALTORS® will do our part to spread the word as we work with the Senate to address this impending assault on homeownership.”

Middle-class homeowners will see their home values go down if the legislation becomes law, she says, but large corporations will see the bulk of the tax cuts.

Read Mendenhall’s entire statement.

Read the CNN story “House Republicans pass tax plan, Senate plan’s future unclear.”