NEW YORK – The US Federal Trade Commission (FTC) has revoked the Atlas real-estate broker license of Mikkelson International Inc. in Kansas, the company said in a statement on Friday.
The FTC said in its decision that the brokerage violated the Real Estate Settlement Procedures Act, which prohibits deceptive advertising of real estate products.
Mick Mikkelson, president of the company, said in the statement that the decision will not affect his company’s ability to engage in the sale of any property.
“The FTC is committed to preventing unfair and deceptive practices and this is an example of why,” Mikkelssons statement said.
After the news broke in April, Mike Mikkelsson, the president of Nashville-based Mikes Mikkkelson Real Estate LLC, said that the firm was considering a possible appeal of the decision, but had not made a decision.
– Mitch Mikkelsey has announced that he has withdrawn from running for a seat on the Kansas state Board of Regents, effective May 19.
“It is a great honor and privilege to represent the people of Kansas, and I want to thank the Board of Governors for their trust and support.
I will be forever grateful for the support I received from the Kansas State Legislature and all members of the public,” Mikkelsons statement reads.
A previous version of this story said Mkkelson had been suspended for a year.
The real estate broker license he had was stalled for a month in September 2018, but the suspension was extended until March 2019.
In the statement, Mikkel said he is “deeply sorry” for the incident.
He said he is now in the process of forming a new team to manage the company.
This is a developing story.
Stay up-to-date on the latest news in real estate.
More stories from New York Posted June 28, 2019 19:47:10A federal judge has issued an order barring the sale and marketing of Rental Housing Guarantee (RHG) certificates issued by the US Department of Housing and Urban Development (HUD).
The order was issued on Friday, after the RHG certificates were issued to more than 3,500 homeowners in California as a result of the Southern California Flood in June 2018.
On July 5, the RHGs were suspended in several California counties as a result of the flooding.
RHGSs are issued to homebuyers to cover a range of home insurance needs including property damage, repairs and maintenance.
During the flood, the Southern California Unified Housing Authority (SCUHA) had issued the RhGs to some of its homebuyers, but some homeowners were not able to access the rhgs.
Now, SUCHA and HUD are attempting to reach a settlement with the owners of the RHGs, which they say are not eligible for a payment of the RHGs due to the storm damage. While the settlement agreement is expected to be released by Tuesday, a court hearing is set for Wednesday.
Succeeding in this case would not affect the future of RHGCs, which have been in effect since September of last year.
US District Judge John B. Walsh issued a preliminary injunction last week that allows the sale of the RHI certificates.
Bureau of Land Management (BLM) and other federal agencies have said that the RHGs are not eligible for payments due to the storm damage.
The RhGs have been in place since August 2017, when the US FED started the RHI program.
As a part of that program, BLM issued RHI certificates to 100,000 homeowners for $5,000.
Those homeowners received $3,000 per year for five years.
Since June 2018, over 4,000 RHI applications have been filed in California, but only one RHIG has been issued to a homeowner, according to BLA data.
At least 50% of California homeowner application fees have been paid out so far, BBL data shows.
There have been at least 30 rhigras issued in California so far this year, data show.
(Read more: California’s Floods: How much did it cost?)