Sacramento County housing indicators
Get to know Sacramento County’s local housing fundamentals in these charts and forecasts.
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Category: Mortgages
BPO series: Trust deeds, liens and the due-on clause
Rational judgment by buyers and tenants is returning
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FHA delinquencies rising on pandemic forbearance arrangements
What are the consequences of delinquency in pandemic-era forbearance arrangements?
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Riverside housing indicators
View these Riverside regional charts for details on current activity and forecasts for its local housing market.
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Using the yield spread to forecast recession and recovery conditions
The yield spread indicates the likelihood of a recession or recovery one year forward.
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San Diego housing indicators
View these charts for current activity and forecasts for San Diego’s housing market.
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California tiered home pricing
Home prices falter across the metropolitan areas of California at the end of 2024.
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Orange County housing indicators
View these Orange County regional charts for details on current activity and forecasts for its local housing market.
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Los Angeles housing indicators
View these Los Angeles regional charts for details on current activity and forecasts for its housing market.
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Foreclosed out homeowners not to be contacted for 90 days regarding surplus funds
An owner entitled to surplus funds remaining from the foreclosure sale of their residence are chased by individuals attempting to make claim on the surplus funds. Now these surplus fund chasers are barred from contacting the owners for 90 days after the trustee’s deed is recorded to better protect California homeowners in a vulnerable position.
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Form-of-the-Week: Mortgage Broker Representation Agreement, and Disclosure of Mortgage Loan Originator Fees — Forms 104 and 119-1
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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Negative equity and foreclosure
When does strategic default make sense for a negative equity homeowner?
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The Statewide Housing Plan (SHP) focuses on first-time homebuyers and homeownership disparities
Calif. Health and Safety Code §50426
Amended to add subsection (c) by AB 1508
Effective date: January 1, 2024
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.
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Right of rescission, after closing
Rescission by a homeowner terminates their already closed borrower mortgage transaction.
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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.
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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.
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Section 32 homeowner protections limiting mortgage note provisions
Several repayment provisions in the note documenting a Section 32 mortgage origination are restricted in their scope — or outright prohibited.
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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.
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