Amy Perry | firsttuesday Journal

Due-on leasing regulations

Posted by Amy Perry | Mar 20, 2023 | Property Management, Real Estate, Recessions

Landlords and property managers need to know what triggers and exempts the due-on clause, since mortgage holders enforce the due-on clause more frequently in times of rising interest rates.

Form-of-the-Week: Profit and Loss Statement and Balance Sheet — Forms 209-2 and 209-3

Posted by Amy Perry | Mar 20, 2023 | Economics, Finance, Forms, Real Estate

An agent uses RPI Forms 209-2 and 209-3 when assisting owners with household budgeting and long-term financial planning.

Redlining practices cost LA-based lender $31 million in settlement

Posted by Amy Perry | Mar 10, 2023 | Fair Housing, first tuesday Local, Fundamentals, Laws and Regulations, Los Angeles-Santa Barbara-Ventura, Mortgages, Real Estate

The largest redlining settlement in the Justice Department’s history involved a lender servicing Los Angeles who achieved disproportionately low numbers of mortgages from minority areas.

Form-of-the-Week: Right of First Refusal Addenda — Forms 162, 162-1 and 162-2

Posted by Amy Perry | Mar 3, 2023 | Forms, Real Estate

A seller’s agent uses RPI Forms 162, 162-1 and 162-2 to set notices for a holder of a right of first refusal.

DRE Hot Seat: When mortgage originations go off the rails, repeatedly

Posted by Amy Perry | Mar 3, 2023 | Fundamentals, Licensing and Education, Real Estate, Your Practice

This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the real estate license of a broker who failed to disclose broker compensation received on mortgage origination forms, while also misrepresenting themselves as a lender and not as the buyer’s agent.