Is your borrower struggling financially? Have they fallen upon hard times? Do they need you to forbear on certain portions of the loan so that they do not fall behind on payments? A forbearance may be the perfect solution for your borrower and you. However, if you are an unlicensed lender, before you rush into …
Threshold and multi-lender broker reporting requirements in California are a source of confusion for many people who broker loans in California, resulting in compliance violations which could have easily been avoided. This article will provide a road map for California mortgage brokers to determine (a) whether they are subject to the additional compliance obligations and …
Complying with California Threshold and Multi-Lender Broker Reporting Requirements Read More »
When it comes to guarantees, one size does not fit all. What type of guaranty is best for your loan? As a private lender underwriting a loan, guarantees can help limit the risk associated with taking on debt, adding an extra layer of safety in the event that a borrower defaults or the value of …
As capital markets have been affected by the COVID-19 outbreak, brokers are returning to a model of brokering loans to private investors and retaining servicing rights to the loan. This provides a recurring source of revenue, separate from the origination fees and other charges collected at loan closing. Having a strong servicing agreement in place …
After receiving pressure from consumer advocacy groups, the Securities and Exchange Commission is attempting to define and clarify their standard of conduct proposal ahead of the cutoff date for public comment. At the agency’s first town hall, SEC Chairman Jay Clayton said that the proposal raises securities broker’s advice obligations and provides changes to how …