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32. Loan from Client

117 DOS 94 Matter of Fried - fraudulent practice in procuring loan from client, to be repaid out of commission when transaction closed; failure to disclose outstanding debts owing to broker for commission advances previously received; inability to repay is no defense; restitution not available in licensing proceeding, it is incidental to primary purpose of licensing; application for renewal denied 

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Third quarter Legal Lines now available

The third quarter 2018 edition of NYSAR’s Legal Lines is now available online at NYSAR.com. This edition covers what a broker's agent actually is, the legal issues related to social media use, conditional approval for financing is not a mortgage commitment and more. Learn more

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