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News
State of California Department of Real Estate Public License Record for Debra K Loffman
Case: In the Matter of the Accusation Against Debra K. Loffman, Broker Licensee
Case No.: H-6590 SAC
Filed: September 27, 2017
Agency: California Bureau of Real Estate (now Department of Real Estate)
Respondent: Debra K. Loffman, California licensed real estate broker
1. Original Accusation
Document: Accusation (H-6590 SAC)
Filed: September 27, 2017
Issued by: Bureau of Real Estate, State of California
Allegations include:
- Trust fund mismanagement
- Commingling of trust funds (mixing client funds with personal/business funds)
- Failure to disclose compensation in connection with property management activities
Direct link (official DRE site): https://www2.dre.ca.gov/hearingfiles/H06590SAC_170927_P.pdf
2. Stipulation and Decision
Document: Stipulation, Determination of Issues, and Order
Filed: April 10, 2018
Summary:
Loffman entered into a stipulated agreement (did not contest the allegations).
The DRE formally revoked her broker license, but stayed enforcement contingent upon compliance with specific probationary terms.
She was ordered to pay costs associated with the DRE’s audit and compliance oversight.
Direct link: https://www2.dre.ca.gov/hearingfiles/H06590SAC_180410_P.pdf
3. Reinstatement Order
Document: Amended Order Granting Reinstatement of Restricted License
Filed: June 17, 2022
Summary:
After a petition for reinstatement, the DRE granted a restricted broker license, allowing Loffman to operate again under specific conditions and monitoring.
Indicates that the disciplinary history remains on record, but the license was conditionally restored.
Direct link: https://www2.dre.ca.gov/hearingfiles/H06590SAC_220617_P.pdf
Response by Debbie Loffman sent to KCRCC News
In property management, there are two bank accounts: an operating account and a trust account.
The trust account has security deposits and the operating account is where a company pays their employees and bills.
8 years ago: two deposits were taken to the bank and the teller accidentally put the deposits in the wrong accounts (accidentally switched them).
They weren’t very large amounts, but it is important that they go into the correct account.
The error was corrected and it has never happened again.
We still won “Best Property Management Company” 12 years in a row – 2014-2025!
Noted by KCRCC News:
- This is not what the Bureau of Real Estate Stipulated Agreement states.
- This does not address the failure to disclose fees.
- This does not address the trust fund mismanagement, specifically reducing the fund below the required amount.
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