California job additions continue; Job growth contracts; The yield spread forecasts the next recession.
Agents pivot as the economy teeters on the edge of recession; Monthly Statistical Update (January 2024)
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Creating Carryback Financing
Secure the most efficient structuring for a seller’s extension of credit to a real estate buyer, every time. Stay current on the latest news, videos, forms, and updates for Creating Carryback Financing.
Latest Articles
Section 32 disbursements, servicing and modification restrictions
Learn the ten prohibited lender actions which protect the borrower after origination of a high-cost (Section 32) consumer-purpose mortgage.
The points and fees test for Section 32
Learn when a consumer-purpose mortgage falls under Section 32 limitations and disclosure rules.
Form-of-the-Week: Further Encumbrance Consent, and Note Enforcement Provisions — Forms 410 and 418-5
These forms are used by a prospective junior lender or carryback seller when the real estate is encumbered by an existing first mortgage containing a due-on clause, to obtain consent from the lender holding the mortgage to further encumber the property with a second mortgage, and by a loan broker or escrow officer when originating a mortgage with the lender or carryback seller, to include a guarantee, exculpatory or governing law provision in the promissory note.
Paying appraisers
Fee appraisers are to be compensated by mortgage lenders and their agents at a reasonable rate – but there are exceptions that effectively gut this rule.
Mortgage delinquencies inch higher, equity shields homeowners — for now
Even as mortgage delinquencies rise, high levels of equity continue to shield homeowners from foreclosure.
The APR Coverage Test: Part 2
Part 2 of this video series provides examples for how MLOs can determine whether a transaction is subject to Section 32 compliance.
Form-of-the-Week: Deed of Trust & Assignment of Rents, and All-Inclusive Trust Deed Addendums — Forms 450, 442 and 443
An agent or escrow officer uses these forms when a seller of property carries back an all-inclusive note and trust deed (AITD) evidencing a principal debt which includes the balance owed on an existing mortgage and a payoff demand.
Using the yield spread to forecast recessions and recoveries
The yield spread indicates the likelihood of a recession or recovery one year forward.
Errata & Updates
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