This video covers the disclosures advising the borrower of the action the lender has taken on the borrower’s mortgage application.
Mortgage Concepts: Lender ECOA disclosures of action taken, Part 1
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
May a mortgage lender foreclose on the secured property to collect on a debt discharged by a bankruptcy court?
In re: Gerald N. Reed
Mortgage Concepts: How to issue the Adverse Action Notice, Part 2
Which disclosures are required by the FCRA when a loan is denied, instead of approved?
Mortgage Concepts: How to issue the Adverse Action Notice, Part 1
When a loan is denied, instead of approved, the FCRA requires the loan originator to disclose the adverse action.
Mortgage Concepts: Observed suspicious activity reports (SARs)
Learn when a mortgage lender is to file a suspicious activity report (SAR) with the Financial Crimes Enforcement Network (FinCEN).
Seasonal dynamics power today’s home price illusion — not buyer demand; Monthly Statistical Updated (August 2023)
https://vimeo.com/849541124 The Monthly Statistical Update (MSU) keeps agents and brokers current on the market trends affecting California real estate transactions. This month, we’re covering: California home prices, which remain well below the mid-2022 peak despite...
Mortgage Concepts: The California Residential Mortgage Lending Act (CRMLA) Part 2
Part 2 of this video reviews CFL and MLO licensing by the DFPI, consumer mortgage originating, and reporting under the CRMLA.
Form-of-the-Week: Notice of Trustee’s Sale & Summary of Key Information and Notice of Sale — Forms 474-2 and 474-1
A trustee uses RPI Forms 474-2 and 474-1 when posting a Notice of Trustee’s Sale (NOTS) on a residential property.
Mortgage concepts: MLO telemarketing, deception and FTC regs
This video discusses the rules governing telemarketing campaigns conducted by mortgage loan originators (MLOs).
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.