If you have clients receiving loan modifications, this one’s for you: loan modification negotiators cannot require any fee before all services have been completed.
Business and Professional Code §10085.6, Civil Code §2944.7
Amended by S.B. No. 980
Existing law prohibits any attorney or Department of Real Estate licensee from receiving up-front fees or compensation for negotiating a modification of a trust deed secured by a one-to-four unit residence.
This prohibition has been extended through January 1, 2017.