Mortgage Loan Brokering & Lending

Form-of-the-Week: Personal Property Inventory, and Security Agreement For Note Secured by Personal Property — Forms 256 and 436

by Amy Platero | Jan 5, 2024

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?

by David Swistock | Jan 4, 2024

In re: Groves

Agents pivot as the economy teeters on the edge of recession; Monthly Statistical Update (January 2024)

by ft Editorial Staff | Jan 2, 2024

California job additions continue; Job growth contracts; The yield spread forecasts the next recession.

Section 32 disbursements, servicing and modification restrictions

by Carrie B. Reyes | Jan 2, 2024

Learn the ten prohibited lender actions which protect the borrower after origination of a high-cost (Section 32) consumer-purpose mortgage.

Section 32 homeowner protections limiting mortgage note provisions

by Carrie B. Reyes | Jan 2, 2024

Several repayment provisions in the note documenting a Section 32 mortgage origination are restricted in their scope — or outright prohibited.

The points and fees test for Section 32

by Carrie B. Reyes | Dec 26, 2023

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

by Amy Platero | Dec 21, 2023

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.

The APR Coverage Test: Part 2

by Carrie B. Reyes | Dec 18, 2023

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

by Amy Platero | Dec 14, 2023

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.

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