A broker and their agent use RPI Form 104 to arrange a mortgage with a buyer or owner of real estate or a holder of a trust deed note and RPI Form 119-1 to disclose to all parties the receipt of a mortgage-related fee in addition to a sales fee on the transaction.
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Learn what a Section 32 loan is, and why MLOs try to avoid originating these types of loans.
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A Section 35 higher-priced mortgage loan classification triggers certain appraisal report requirements.
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Learn the ten prohibited lender actions which protect the borrower after origination of a high-cost (Section 32) consumer-purpose mortgage.
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Several repayment provisions in the note documenting a Section 32 mortgage origination are restricted in their scope — or outright prohibited.
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Learn when a consumer-purpose mortgage falls under Section 32 limitations and disclosure rules.
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Your NMLS renewal just got more entertaining now that firsttuesday’s 8-hour NMLS CE Online Video course is freshly approved.
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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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California’s attorney general recently announced a crackdown on illegal telemarketing.
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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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This video reviews CFL and MLO licensing by the DFPI, consumer mortgage originating, and reporting under the CRMLA.
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Learn the factors which compel delivery of a Loan Estimate – and when changes may be made with a Revised Loan Estimate.
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The face of the ARM has changed over the years, most markedly during the Millennium Boom of the mid-2000s.
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The face of the ARM has changed over the years, most markedly during the Millennium Boom of the mid-2000s.
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MLOs betting their income on commercial and multi-family lending in 2023 will be disappointed.
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Learn how mortgage origination providers will survive the ongoing downturn in mortgage originations with this RPI ebook.
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Just 32% of loan companies were able to remain profitable in 2022.
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This article is part of an ongoing series covering violations of real estate law. Here, the Department of Real Estate (DRE) revoked the real estate license of a broker who failed to disclose broker compensation received on mortgage origination forms, while also misrepresenting themselves as a lender and not as the buyer’s agent.
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The February 2023 DFPI Bulletin focuses on natural disaster guidance, crypto assets, and MLO reports.
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Welcome back to your quarterly real estate industry roundup!
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