Form-of-the-Week: Loan Broker Listing Agreement, and Disclosure of Mortgage Loan Broker Fees — Forms 104 and 119-1
Listing agreement as an employment contract A listing agreement is an employment contract entered...
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Tag: consumer mortgages
UDAAP consumer mortgage protections extended to commercial financing
Existing regulations prohibiting unfair, deceptive, and abusive practices (UDAAP) in consumer mortgage financing now apply to the conduct of originators of commercial mortgage financing in California.
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As consumer mortgage complaints jump — originations plummet
In 2022, the number of consumer mortgage loans originated by DFPI licensees was down a shocking 70% from the prior year.
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Mortgage Concepts: Lender ECOA disclosures of action taken, Part 2
Part 2 explains ECOA-mandated disclosures advising the borrower of the action the lender has taken on the borrower’s mortgage application.
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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?
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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.
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Mortgage Concepts: Advertising – a complete representation of the mortgage terms mentioned
While no guidelines exist for an “ideal” mortgage ad, there are standards an MLO needs to follow.
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DFPI Bulletin Digest: February 2023
The February 2023 DFPI Bulletin focuses on natural disaster guidance, crypto assets, and MLO reports.
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Letter to the editor: How do I tell the difference between a business and consumer mortgage?
Knowing the difference between the two will help MLBs identify more streams of income during the recession.
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MLO recession survival guide Part 4: Arranging mortgage originations for investors
Discover how to solicit and work with property investors during a recession.
Read MoreCFPB Review: What is HMDA?
Watch this video to learn the critical consumer protection goals of the Home Mortgage Disclosure Act (HMDA).
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Letter to the Editor: Explaining California MLO licensing and endorsement
We answer your questions about MLO licenses.
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Identity theft prevention for MLOs and MLBs
This article discusses the identity theft prevention program which mortgage loan originators...
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The consumer mortgage call report
This article discusses the quarterly mortgage call report filed by mortgage loan originators (MLOs) with the NMLS.
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Mortgage loan originator licensing transitions
Know what to do when your employment requires a transition from one mortgage loan originator (MLO)...
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California SAFE Act mortgage loan originator (MLO) license requirements
So, you want to originate consumer mortgages? Read on for an explanation of the different MLO...
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Late charges and grace periods
A refresher course on late charges—plus new rules for consumer mortgages.
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Prepayment penalty provisions
Where and when prepayment penalties are permitted in the post-Dodd-Frank era.
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Changing the terms of a mortgage
The basics of negotiating to modify the terms of a mortgage.
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