Mortgages | firsttuesday Journal

California tiered home pricing

by ft Editorial Staff | Oct 14, 2024 | Bay Area, Charts, first tuesday Local, Los Angeles-Santa Barbara-Ventura, Mortgages, Real Estate, San Diego | 30

Home prices are flatlining across California’s metropolitan areas at the end of 2023.

Negative equity and foreclosure

by David Swistock | Mar 27, 2024 | Economics, Feature Articles, Mortgages, Real Estate, Recessions | 0

When does strategic default make sense for a negative equity homeowner?

The Statewide Housing Plan (SHP) focuses on first-time homebuyers and homeownership disparities

by David Swistock | Mar 25, 2024 | Fair Housing, Laws and Regulations, Mortgages, New Laws, Real Estate | 1

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

by Amy Platero | Jan 15, 2024 | Finance, Forms, Investment, Mortgages, Real Estate | 0

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.

Right of rescission, after closing

by Carrie B. Reyes | Jan 12, 2024 | Feature Articles, Finance, Mortgages, Real Estate, Video | 0

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

by Amy Platero | Jan 5, 2024 | Finance, Forms, Mortgages, Real Estate | 0

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 | Laws and Regulations, Mortgages, Real Estate, Recent Case Decisions | 0

In re: Groves

Section 32 disbursements, servicing and modification restrictions

by Carrie B. Reyes | Jan 2, 2024 | Feature Articles, Finance, Laws and Regulations, Loan Products, Mortgages, Real Estate | 0

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 | Laws and Regulations, Mortgages, Real Estate | 0

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

The APR Coverage Test: Part 2

by Carrie B. Reyes | Dec 18, 2023 | Feature Articles, Finance, Loan Products, Mortgages, Real Estate, Video | 0

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 | Finance, Forms, Loan Products, Mortgages, Real Estate | 0

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.

Using the yield spread to forecast recessions and recoveries

by ft Editorial Staff | Dec 14, 2023 | Charts, Interest Rates, Mortgages, Real Estate, Recessions | 40

The yield spread indicates the likelihood of a recession or recovery one year forward.

Mortgage Concepts: Timelines for lender RESPA disclosures

by Carrie B. Reyes | Dec 7, 2023 | Feature Articles, Finance, Mortgages, Real Estate, Your Practice | 0

This video covers delivery of the Loan Estimate and Closing Disclosure.

May a second trust deed note holder on a call of a recourse note now unsecured due to foreclosure by the senior note holder, judicially collect the payment due on the call when monthly note payments are more than four years delinquent?

by David Swistock | Dec 7, 2023 | Finance, Laws and Regulations, Loan Products, Mortgages, Real Estate | 0

Piedmont Capital Management, LLC. v. McElfish

Form-of-the-Week: Agreement to Modify a Promissory Note, and Modification of the Promissory Note — Forms 426 and 425

by Amy Platero | Dec 7, 2023 | Finance, Forms, Loan Products, Mortgages, Real Estate | 0

These forms are used by a holder of a mortgage, their servicing agent or broker when arranging the modification of the mortgage note, to set forth the terms sought in the modification effort, to evidence the modification of the original note and state the change in terms of the note.

A consumer mortgage becomes a Section 32

by Carrie B. Reyes | Nov 27, 2023 | Finance, Interest Rates, Loan Products, Mortgages, Real Estate | 0

A consumer-purpose mortgage origination secured by the borrower’s primary residence earns a Section 32 designation based on a three-step set of APR tests.