Rapidly rising interest rates caused the BPPI figure to slip to -12.7 in March 2022 – and falling.
Q1 2022 Buyer Purchasing Power Index falls further into negative territory
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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.
Latest Articles
MLO Mentor: HECM fraud and abuse
This article discusses abuse, theft, and fraud schemes related to Home Equity Conversion Mortgages (HECMs).
California mortgage relief program provides second chance in delinquency
California’s mortgage relief program is open for applications. Find out why your eligible clients will want to apply early.
MLO Mentor: The MARS Rule, Part II
This article continues our discussion in Part I of the Mortgage Assistance Relief Services (MARS) rule and its associated disclosure requirements.
Jobs still lagging, savings rates fall; Monthly Statistical Update (April 2022)
Jobs are still climbing out of the recessionary pit; Personal savings — back to normal and falling; Yield spread forecasts no double dip recession — for now
MLO Mentor: The MARS Rule
This article discusses the Mortgage Assistance Relief Services (MARS) rule
MLO Mentor: The Fair Credit Reporting Act, Part II
This article gives an overview of the separate disclosures required under Fair Credit Reporting Act (FCRA)
DRE Hot Seat: Danny Yen, owner of Real Estate Educational Services (REES), reprimanded by DRE and DFPI for conducting massive education fraud scheme
This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) withdrew the qualification of a real estate course provider and instructor who implemented an elaborate and multi-state educational scheme which fraudulently provided course completion certificates to hundreds of DRE licensees and mortgage loan originators (MLOs) without requiring them to pass — or even attempt — their courses and final exams.
MLO Mentor: The Fair Credit Reporting Act
This article gives an overview of the Fair Credit Reporting Act (FCRA).
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.