STATEN ISLAND, N.Y. — The Staten Island Board of Realtors (SIBOR) has been looking to Washington for new regulations protecting homeowners from foreclosure abuses. The following article from the Washington Post highlights the fact that changes are taking place:

A significant element of the government’s historic settlement with big banks over foreclosure abuses takes effect Tuesday, when firms face a deadline for carrying out more than 300 changes in the way they service mortgages and treat struggling homeowners.

Much of the hoopla surrounding this year’s $25 billion government settlement has focused on the banks’ agreement to reduce the loan balances of some borrowers and undertake more refinancings for thousands of Americans.

Although the new standards haven’t received as much attention, they are crucial for fixing a broken mortgage system, government officials said.

The standards forbid the pervasive practice of “robo-signing” — essentially filing forged and shoddy legal paperwork to speed the foreclosure process — that caused national outrage in late 2010.  READ MORE  …

About The Staten Island Board of REALTORS® (SIBOR)

The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.

SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.

Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.

SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.

All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).

SIBOR may be reached at 718-928-3220 and viewed online at http://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Living,” on Twitter via @SIBOR, and on YouTube at the Staten Island Board of Realtors and RelevantPR channels.

Media Inquiries:

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: [email protected]