Low down payment homebuyers who go under contract today will be underwater by the time they sign on the dotted line.
Today’s minimum down payment homebuyers are in big trouble
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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.
Recent updates to the course e-book
- 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.
06/25: The 2025 rules for buyer representation and fee-splitting avoidance are currently being edited into this e-book.
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Refinances oppose interest rate movement
Following record-smashing refinance volume in 2020-2021, refinances have quickly retreated into irrelevance.
Mortgage lenders expect the housing market to worsen in 2023
2022 has some mortgage lenders packing their bags and heading for the exits.
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California’s residential turnover rate hit a decade’s low in 2021
When turnover falls, so too does earning potential for agents and brokers.
ARM use ticks higher as buyers overreach
With falling home prices and rates continuing to rise, today’s ARM buyers are purchasing a ticking time bomb.