This article series walks you through reporting under the California Financing Law.
MLO Mentor: California Financing Law, Part II
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
Higher mortgage rates drain purchasing power and sink sales volume; Monthly Statistical Update (June 2022)
Rates show buyers and sellers no mercy; Mortgage rates devastate purchase-assist financing; The seller’s home sales volume cascade has begun
Disclosures on carryback financing transactions
As interest rates rebound from their historic lows during the pandemic, buyer purchasing power is taking a dive. With this context in mind, carryback financing will become more popular as rates move along their climb. But before diving into a carryback financing...
Mortgage Concepts: MARS rule communication types and disclosures
This video discusses communication types and disclosures under the Mortgage Assistance Relief Services (MARS) rule.
DFPI Bulletin Digest: May 2022
The May 2022 DFPI Bulletin focuses on a Governor Newsom’s latest blockchain executive order, consumer protection law updates and loan forgiveness, among other topics.
MLO Mentor: California Financing Law
This article walks you through licensing under the California Financing Law (CFL).
Mortgage Concepts: What is the MARS Rule?
This video discusses the Mortgage Assistance Relief Services (MARS) rule.
Rising rates bring back seller financing
As credit availability tightens thanks to rising interest rates, loan approvals become more elusive. But seller financing presents a back-door to homeownership.
MLO Mentor: CRMLA Annual Reports
This article details MLO reporting under the California Residential Mortgage Loan Act (CRMLA).
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.
06/25: The 2025 rules for buyer representation and fee-splitting avoidance are currently being edited into this e-book.