Attorney General files lawsuit against Elk Grove for violating state housing laws
The California Attorney General filed a lawsuit against the city of Elk Grove for preventing the development of low-income housing.
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Author: Amy Platero
Form-of-the-Week: Property Management Agreement and Change of Owner or Property Manager — Forms 590 and 554
A broker uses RPI Form 590 when entering into a property management agreement with an owner and RPI Form 554 when a change of ownership occurs.
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New mortgage premium structure signifies a transfer of wealth
The FHFA has altered their mortgage insurance premiums. Now, borrowers with lower credit scores and down payments will be paying less under the new structure than they did under the old.
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Form-of-the-Week: Client Profile and LLC Subscription Agreement — Forms 350 and 373
A broker uses RPI Forms 350 and 373 when gathering information on and soliciting cash investors to form an LLC.
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DRE Hot Seat: Prison time for a broker who committed heinous mortgage fraud
This article is part of an ongoing series covering violations of real estate law. Here, the California Department of Justice (DOJ) sentenced a broker to 5 years and 4 months in prison and ordered him to pay restitution for creating forged and fraudulent records to obtain more than $8 million in mortgages for his clients in order to earn fees for himself.
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