Comments on: Can MLSs help Fannie Mae help the market? http://www.geekestateblog.com/can-mlss-help-fannie-mae-help-the-market/ Tue, 07 Sep 2010 17:22:00 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Laguna Niguel Real Estate http://www.geekestateblog.com/can-mlss-help-fannie-mae-help-the-market/comment-page-1/#comment-68250 Laguna Niguel Real Estate Tue, 23 Dec 2008 05:30:49 +0000 http://www.geekestateblog.com/?p=1494#comment-68250 Hey! Cool post. Fannie is faulted for an 'orgy' of subprime loans :D I think Brian quite right with his argument that MLSs/brokers could refuse to turn over MLS data to the federal government. Hey! Cool post. Fannie is faulted for an ‘orgy’ of subprime loans :D I think Brian quite right with his argument that MLSs/brokers could refuse to turn over MLS data to the federal government.

]]> By: Brian Larson http://www.geekestateblog.com/can-mlss-help-fannie-mae-help-the-market/comment-page-1/#comment-66875 Brian Larson Thu, 18 Dec 2008 12:33:08 +0000 http://www.geekestateblog.com/?p=1494#comment-66875 @Rob, Hmm... not sure about your question. As far as I know Fannie does not have the power of subpoena or the power to make regulations with the effect of law. Any Federal or state agency could probably subpoena listing information as part of an investigation. I suppose it could be required as part of a settlement of some kind of claim by the government against MLSs, but I'm not sure what form that might take. A federal agency could impose a rule that MLSs must turn over certain data to the government, but it would have to pass some hurdles to do so (there would need to be legislative authority, it would have to pass muster under the Takings Clause, etc.) So, I guess I'm saying that barring some strange circumstance of which I'm not aware, yes, I think MLSs/brokers could refuse to turn over MLS data to the federal government. -Brian @Rob,
Hmm… not sure about your question. As far as I know Fannie does not have the power of subpoena or the power to make regulations with the effect of law.

Any Federal or state agency could probably subpoena listing information as part of an investigation. I suppose it could be required as part of a settlement of some kind of claim by the government against MLSs, but I’m not sure what form that might take.

A federal agency could impose a rule that MLSs must turn over certain data to the government, but it would have to pass some hurdles to do so (there would need to be legislative authority, it would have to pass muster under the Takings Clause, etc.)

So, I guess I’m saying that barring some strange circumstance of which I’m not aware, yes, I think MLSs/brokers could refuse to turn over MLS data to the federal government.

-Brian

]]> By: Rob Hahn http://www.geekestateblog.com/can-mlss-help-fannie-mae-help-the-market/comment-page-1/#comment-66207 Rob Hahn Tue, 16 Dec 2008 16:55:56 +0000 http://www.geekestateblog.com/?p=1494#comment-66207 Another great article, Brian. I swear, I'm not stalking you, but man... you're a wealth of information and inspiration. :) One question: Seeing as how Fannie Mae is a quasi-governmental entity (especially now), if someone... say the Commerce Dept or Treasury or SEC or someone... were to simply mandate that MLS submit information... do you see any way for brokers/agents/MLS to say no? -rsh Another great article, Brian. I swear, I’m not stalking you, but man… you’re a wealth of information and inspiration. :)

One question: Seeing as how Fannie Mae is a quasi-governmental entity (especially now), if someone… say the Commerce Dept or Treasury or SEC or someone… were to simply mandate that MLS submit information… do you see any way for brokers/agents/MLS to say no?

-rsh

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