Rivera-Soto rips Opinion 710
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#1 Jan 18, 2008
"I cannot understand why the Bar Association, as "advocates" has not taken any steps since they "created" this Opinion to get both the NJ Board of Realtors and the NJ Department of Banking to "opine" in synch with their Opinion if they truly believe in the how they ruled. Lest we not forget, lawyers gain nothing from a transaction closing with a seller concession while a broker does, in the form of a commission and the Lender does, in the form of a broker fee and/or a yield spread premium. If the NJSBA truly believes in the Opinion, it should take immediate steps, as "advocates" to compel their collateral "brethren" (Realtors and Bankers) to rule "in synch", so as to ban seller concessions, since the mere thought of a seller concession only originates with the Broker and/or the Lender, and not the attorney and then that will be the end of seller concessions. I cannot understand why no such steps have been taken if they really feel this way."
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