This article reviews the different types and features of adjustable-rate mortgages (ARMs).
MLO Mentor: Different types of ARMs
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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
Mortgage Concepts: When can a borrower cancel FHA mortgage insurance?
Mortgage Concepts is a recurring video series covering best practices and compliance education for California mortgage loan originators. This video discusses when a borrower can cancel Federal Housing Administration (FHA) mortgage insurance.
MLO Mentor: Regulation N
MLO Mentor is an ongoing series covering compliance best practices for mortgage loan originators (MLOs). This article outlines the rules and violations of the Mortgage Acts and Practices — Advertising rule, otherwise known as MAP-Ad or Regulation N.
MLO Mentor: Telemarketing and Consumer Fraud
MLO Mentor is an ongoing series covering compliance best practices for mortgage loan originators (MLOs). This article outlines the rules and violations of the Telemarketing and Consumer Fraud and Abuse Prevention Act (TCFAPA).
Mortgage Concepts: Is my loan subject to RESPA?
This video discusses determining whether or not your loan is subject to the Real Estate Settlement Procedures Act (RESPA).
Press Release: Q4 2021 Buyer Purchasing Power goes negative with rising interest rates
The California BPPI figure declined to -5.0 in December 2021, reflecting a 5% decrease in mortgage money available to homebuyers reliant on financing.
Mortgage rates enter 2022 in a risky crossover; Monthly Statistical Update (January 2022)
Fixed rate mortgage (FRM) rates look flat to up; Bond market investors subdued as the Fed fights inflation; Homebuyers eye low rates on adjustable rate mortgages (ARM)
DFPI Bulletin Digest: December 2021
The December 2021 DFPI Bulletin focuses on new state laws affecting licensees and the 2021-22 escrow special assessment, among other topics.
Mortgage Concepts: What triggers repayment of a reverse mortgage?
Mortgage Concepts is a recurring video series covering best practices and compliance education for California mortgage loan originators. This video discusses circumstances that trigger repayment of a reverse mortgage.