Category Archives: COVID19

COVID19

Second Draw PP Loans – Q & A

Who is eligible for a Second Draw PPP Loan? An applicant is eligible for a Second Draw PPP Loan if it is a business concern, independent contractor, eligible self-employed individual, sole proprietor, nonprofit organization eligible for a First Draw PPP Loan, veterans organization, Tribal business concern, housing cooperative, small agricultural cooperative, eligible 501(c)(6) organization or …

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COVID19

Financial & Business Assistance

ASSISTANCE/SMALL BUSINESS LOANS Updated January  7, 2021 Paycheck Protection Program (PPP) Loans Who is eligible for a Second Draw PPP Loan? An applicant is eligible for a Second Draw PPP Loan if it is a business concern, independent contractor, eligible self-employed individual, sole proprietor, nonprofit organization eligible for a First Draw PPP Loan, veterans organization, …

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COVID19

COVID-19 FAQs for REALTORS: Emergency Unemployment Benefits

Updated 9/12/2020  Updates will be posted as they become available. Please check this page often. Find updated Unemployment Information  on the RI Dept. of Labor and Training’s website at https://dlt.ri.gov/covid19/. FEMA has approved 5 additional $300 supplemental unemployment payments to unemployed Rhode Islanders. Claimants will receive an additional $300 per week for each of the …

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COVID19 News

Revised COVID-19 Amendment Now Available

On April 7, 2020, the Rhode Island Association of REALTORS® Executive Committee approved a revised COVID-19 Amendment.  At the time that the original Amendment was written, town and city halls were closing, it was not clear whether critical government and business functions, such as smoke/CO inspections, title searches, closing, and inspections could take place or …

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COVID19

COVID-19: Appraisal Updates

HUD, VA and USDA all have protocols in place for exterior appraisals. All three entities announced on Friday, March 27th, the ability for appraisals to be completed based upon exterior-only observations.  This was critical to allow pending sales to move forward, and also critical to allow consumers access to credit with the very low interest …

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COVID19

New appraisal guidelines: Best practices for REALTORS

Lenders still want a full appraisal.  However, if it is not feasible for the appraisal to be done (if someone in the home is sick for example) the lender MAY request an exception for an exterior only report.  Appraisers will now be able to do exterior appraisal reports for Fanny Mae loans (the majority of …

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COVID19

COVID-19: RI REALTORS® Office/Staffing/Cancellations

RI REALTORS® Office/Staffing: Due to COVID-19, RI REALTORS® has implemented the following measures, based on ensuring the health and safety of our members and staff: RI REALTORS® will be implementing a revised staffing structure until further notice. Please call or email us with any questions or concerns you have regarding meetings, classes or events. Please address …

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COVID19

General Federal/State Information

RHODE ISLAND Executive Orders: Face Masks Effective Saturday, April 18, all employees of customer-facing businesses MUST wear a face mask to go into the office or workplace unless an employee can easily, continuously, and measurably maintain at least six (6) feet of distance from others for the duration of his or her work. (Everyone should …

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COVID19

Real Estate Specific Updates: Federal, State and Municipal Resources

Real Estate Industry Updates: Last updated: 2/28/20 FEDERAL  Fair Housing See NAR’s Fair Housing Guidance during the era of COVID at https://www.nar.realtor/coronavirus-a-guide-for-realtors#fairhousing. STATE  Guidance for cleaning of summer rentals. Home Inspections: Enforcement of home inspector licensing moved from May 1 to July 1. Remote Notarizations: Secretary Gorbea Announces Remote Online Notarization to Enable Business to Continue …

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COVID19 News

RIAR and MLS ask Realtors to refrain from holding open houses

Warwick, R.I. – March 21, 2020 — The Rhode Island Association of Realtors (RIAR) and its subsidiary, State-Wide Multiple Listing Service (MLS), are calling upon all Rhode Island Realtors to stop holding open houses until further notice to help mitigate the spread of the coronavirus. RIAR and MLS urge members to use modern technology instead. …

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