Mortgages | firsttuesday Journal

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.

Mortgage industry sees more originations in 2024, despite also anticipating a recession

by Carrie B. Reyes | Nov 17, 2023 | Economics, Finance, Mortgages, Real Estate, Recessions | 0

The MBA’s crystal ball shows more mortgage originations in 2024 – but also a recession.

May a buyer who acquires property subject to an existing mortgage which is in default reinstate the mortgage to cure the default when the lender has not called the mortgage due, refuses to accept reinstatement and starts foreclosure?

by David Swistock | Nov 6, 2023 | Laws and Regulations, Loan Products, Mortgages, Real Estate, Recent Case Decisions | 0

Shetty v. HSBC Bank USA, N.A.

California tiered home pricing

by ft Editorial Staff | Oct 31, 2023 | Bay Area, Charts, first tuesday Local, Los Angeles-Santa Barbara-Ventura, Mortgages, Real Estate, San Diego | 30

Home prices are at the tail end of a brief seasonal uptick across California’s metropolitan areas.

Using the yield spread to forecast recessions and recoveries

by ft Editorial Staff | Oct 23, 2023 | Charts, Interest Rates, Mortgages, Real Estate, Recessions | 36

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

Meet the MLO video course that fulfills your NMLS CE renewal needs

by ft Editorial Staff | Oct 16, 2023 | Feature Articles, Fundamentals, Licensing and Education, Mortgages, Real Estate, Your Practice | 0

Your NMLS renewal just got more entertaining now that firsttuesday’s 8-hour NMLS CE Online Video course is freshly approved.

Is a private mortgage lender entitled to receive usurious interest on a non-brokered extension to a mortgage initially arranged by a broker?

by David Swistock | Oct 4, 2023 | Interest Rates, Laws and Regulations, Loan Products, Mortgages, Real Estate, Recent Case Decisions | 0

In re Moon

UDAAP consumer mortgage protections extended to commercial financing

by Carrie B. Reyes | Oct 2, 2023 | Commercial, Finance, Mortgages, Real Estate, Your Practice | 0

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.

New law simplifies, expands Revocable Transfer on Death Deeds

by Carrie B. Reyes | Sep 22, 2023 | Laws and Regulations, Mortgages, New Laws, Real Estate | 0

AB 288 expands what type of property owners may use Revocable Transfer on Death (TOD) Deeds, and clarifies the procedure when a Revocable TOD Deed conflicts with another deed.

May a debtor in bankruptcy claim a wildcard exemption for their vested interest in a property after the debtor initially denied holding any interest in the property?

by David Swistock | Sep 14, 2023 | Laws and Regulations, Mortgages, Real Estate, Recent Case Decisions | 0

In re Guevarra

As consumer mortgage complaints jump — originations plummet

by Carrie B. Reyes | Sep 13, 2023 | Economics, Finance, Mortgages, Real Estate, Recessions | 1

In 2022, the number of consumer mortgage loans originated by DFPI licensees was down a shocking 70% from the prior year.

The news media has the wrong take on mortgage rates

by Amy Platero | Aug 25, 2023 | Economics, Finance, Interest Rates, Mortgages, Real Estate, Recessions | 1

Media pundits in their coverage of today’s high mortgage interest rates ignore the 60-year cycle of rising and falling mortgage rates and the seller’s pricing response to rising and falling rates.