After a successful test run triggered by the pandemic, Fannie Mae and Freddie Mac will soon be permanently accepting remote desktop appraisals on eligible transactions.
Fannie Mae and Freddie Mac to launch remote desktop appraisals in 2022
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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: Appraisal independence
MLO Mentor is an ongoing series covering compliance best practices for mortgage loan originators (MLOs). This article discusses the importance of appraisal independence. Enroll in firsttuesday’s 8-Hour NMLS CE to renew your California MLO license and learn more about...
Mortgage Concepts: Common mortgage fraud schemes, Part 2
This video continues discussing common mortgage fraud schemes mortgage loan originators are likely to encounter in their business
DFPI Bulletin Digest: February 2022
The February 2022 DFPI Bulletin focuses on a fraudulent scheme targeting the elderly, a joint action toward MLO education, and annual reports due, among other topics.
Mortgage Concepts: Common mortgage fraud schemes, Part 1
This video discusses common mortgage fraud schemes mortgage loan originators are likely to encounter in their business.
MLO Mentor: The Equal Credit Opportunity Act
MLO Mentor is an ongoing series covering compliance best practices for mortgage loan originators (MLOs). This article discusses the Equal Credit Opportunity Act (ECOA). Enroll in firsttuesday’s 8-Hour NMLS CE to renew your California MLO license and learn more about...
Black mortgage applicants denied almost twice as often as white applicants
The result has been lower homeownership rates and less wealth for Black and Latinx households.
MLO Mentor: The eligible non-borrowing spouse
This article discusses HECM loans and the eligible non-borrowing spouse.
Mortgage rates jump, depressing real estate pricing in 2022; Monthly Statistical Update (February 2022)
Fixed rate mortgage (FRM) rates leaped; While mortgage rates jump, Treasuries only rise; High home prices just lost support
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.