This Mortgage Concepts video breaks down the critical elements of an adjustable rate mortgage (ARM).
Mortgage Concepts: ARM awareness by an informed consumer
read more
California Mortgage Lending
Learn the core concepts of consumer and business mortgage lending and brokering.
Stay current on the latest news, videos, forms, and updates for California Mortgage Lending.
Latest Articles
National mortgage balances increased by $1 trillion in 2022
During the fourth quarter of 2022, total national mortgage debt increased by $254 billion, contributing to a $1 trillion increase in mortgage balances in 2022.
Trending mortgage rates
Where are mortgage rates now? Check out our weekly interest rate update to track the latest market rates.
California home sales volume
Home sales volume is falling back in 2022.
Using the yield spread to forecast recessions and recoveries
The yield spread indicates the likelihood of a recession or recovery one year forward.
ARM-FRM crossover removes last support for home prices
The interest rate inversion has completely eliminated the appeal of ARMs — and the price support ARMs provided before the inversion.
Mortgage delinquencies rise from historic low
While home sales volume is plummeting and home prices are spiraling, there is one housing factor on the rise — mortgage delinquencies.
Redlining practices cost LA-based lender $31 million in settlement
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.
The mean price trendline: the home price anchor
The mean price trendline reveals housing price deviations. Track the trends to reveal the direction of prices in the years ahead.
Errata & Updates
- Chapter 3: The Agency Law Disclosure. The updated statutory Agency Law Disclosure and confirmation provision went into effect the beginning of 2019. Both the content of the form and when it is to be used have been modified. Further, prior printings indicate the Agency Law Disclosure is not required on a lease with a term exceeding one year. However, lease transactions greater than one year are targeted transactions requiring the disclosure. For a thorough analysis of the new disclosure and confirmation practices, see the digital eBook version of the book.
- Chapter 72: Home mortgage interest deductions. The definition for principal residence on page 472 is partially obscured. It should read “The residential property where the homeowner resides a majority of the year.”
- Quiz 3 Question 3 has been simplified to read:
California anti-discrimination law is enforced by:
a. the Department of Business Oversight (DBO).
b. the Department of Fair Employment and Housing.
c. the Department of Housing and Urban Development (HUD).
d. Fannie Mae.