As credit availability tightens thanks to rising interest rates, loan approvals become more elusive. But seller financing presents a back-door to homeownership.
Rising rates bring back seller financing
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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.
Newly published related content
MLO Mentor: CRMLA Annual Reports
This article details MLO reporting under the California Residential Mortgage Loan Act (CRMLA).
Fast rising mortgage rates chill real estate for all participants; Monthly Statistical Update (May 2022)
Mortgage interest rates leap, toppling buyers until prices drop; Lured by temporary price reports, new agents pour in during 2021; ARM use to rise with FRM rate jump
Form-of-the-Week: Offer for Land Sales Contract and Land Sales Contract — All-Inclusive with Power of Sale — Forms 167 and 168
A seller hoping to locate a buyer during a tight mortgage market might consider using an alternative documentation for seller financing, the land sales contract.
MLO Mentor: California Residential Mortgage Loan Act, Part II
This article continues our discussion in Part I of MLO licensing, origination and reporting under the California Residential Mortgage Loan Act (CRMLA).
MLO Mentor: The California Residential Mortgage Loan Act
This article will review MLO licensing, origination, and reporting under the California Residential Mortgage Lending Act (CRMLA).
Mortgage Concepts: Red Flags Rule and identity theft protection
This video discusses the Red Flags Rule and identity theft protection.
Q1 2022 Buyer Purchasing Power Index falls further into negative territory
Rapidly rising interest rates caused the BPPI figure to slip to -12.7 in March 2022 – and falling.
MLO Mentor: HECM fraud and abuse
This article discusses abuse, theft, and fraud schemes related to Home Equity Conversion Mortgages (HECMs).