A conflict of interest

In 2012, the Maryland General Assembly considered legislation reauthorizing the state Real Estate Commission, including a series of amendments related to an obscure function of that agency, a fund that compensates victims of bad actions by licensed real estate professionals. Those who have suffered a loss due to fraud, theft, embezzlement or other offenses by a licensee can get compensation from a state fund, which the offending party must pay back, with interest and fees. The amendments to the bill would have reduced the maximum interest rate, provided for the elimination of fees under some circumstances and allowed for the reinstatement of the offender's a real estate license during the repayment period.

February 5, 2013