Calif. Health and Safety Code §50426
Amended to add subsection (c) by AB 1508
Effective date: January 1, 2024
Mortgage Loan Brokering & 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
SoCal commercial vacancy rates continue to rise in Q4 2023
Southern California’s commercial market softened even further in the fourth quarter of 2023.
Form-of-the-Week: Purchase Agreement for Note and Trust Deed, and Agreement to Hypothecate — Forms 241 and 242
A trust deed loan broker uses these forms when arranging the purchase by a trust deed investor of an existing trust deed note held out for sale to prepare an offer stating the price and conditions for purchase of the trust deed note, and when arranging a loan made by a trust deed investor collateralized by an existing trust deed note held by the borrower to prepare an offer by the investor for the borrower’s acceptance stating the terms and conditions for making the collateralized loan.
Predatory mortgages, discouraged by TILA section 32
Learn what a Section 32 loan is, and why MLOs try to avoid originating these types of loans.
Right of rescission, after closing
Rescission by a homeowner terminates their already closed borrower mortgage transaction.
Form-of-the-Week: Personal Property Inventory, and Security Agreement For Note Secured by Personal Property — Forms 256 and 436
These forms are used by a seller’s agent or escrow officer when preparing a purchase agreement or counteroffer for a real estate transaction when the transfer of personal property is included and when on a carryback sale the price includes the transfer of personal property which together with the property sold will be security for the carryback note, to grant the seller a security interest in the personal property.
May a co-owner challenge an encumbrance on the other co-owner’s interest in a jointly owned property?
In re: Groves
Agents pivot as the economy teeters on the edge of recession; Monthly Statistical Update (January 2024)
California job additions continue; Job growth contracts; The yield spread forecasts the next recession.
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.
Errata & Updates
No corrections reported.