Oh, California: A Guide to DRE and DFPI Licensing, Usury, Loan Sales, and Daily Compliance

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Webinar Summary

Confused by the mortgage lending regulatory lay of the land in California? Get in line.

California lending comes with a whole host of confusing regulations, licenses, and more. Unlike most of the country, California regulates mortgage lenders through its Department of Real Estate (DRE) AND the Department of Financial Protection and Innovation (DFPI). Beyond licensing and regulators, California regulates far more than almost any other state including complex usury laws, regulations on loan sales, table funding restrictions, complex late charge restrictions, limitations of interest charges, and a series of other potential landmines for mortgage lenders. In one succinct presentation we will provide you the tools necessary to understand how to make loans in California without accidentally shooting yourself in the foot in the process.

In this webinar, you will learn:

  • The difference between a DRE Broker’s license and DFPI’s CFL license.
  • What license may be necessary when you buy, sell, service and broker loans.
  • Whether your debt fund and its affiliates all need to be licensed.
  • Whether you and your employees need to be additionally licensed.
  • California’s regulatory climate related to table funding and other secondary market transactions.
  • Construction loan limitations and complications.
  • Loan level limitations such as usury, late charges, and prepayment restrictions.
Questions about this webinar? Reach out to our team below.

Lender Lounge with Kevin Kim Special Episode: Mid-Year Outlook

Lender Lounge with Kevin Kim hosted a special livestream featuring industry legends Daren Blomquist, VP of Market Economics at Auction.com and Rick Sharga, Executive Vice President at ATTOM.

Watch the recording of May 18th LIVE episode below and hear these industry leaders’ thoughts on housing demand, build to rent, interest rates, inflation, and everyone’s favorite doomsday question: is a recession coming?

Revisiting SB-1079 in 2022: Highlights, Lowlights, and How We Litigate Going Forward

SB-1079, through its changes to the non-judicial foreclosure process, brought significant opportunity (and new risks) to potential homeowners and entities alike. The bill, signed into law in California at the start of 2021, opened the door for various Litigation concerns to crop up for lenders and litigators alike in 2022 and beyond.

Workouts 101 – Forbearances, Modifications, And Other Loss Mitigation Strategies: What To Do When Your Borrower Can’t Pay

2022 is shaping out to be another strong year for the mortgage industry. But, lenders should always be prepared for loans that don’t pan out the way they are supposed to, and should be ready to jump in with the proper steps to work out loan defaults when borrowers are in trouble. Geraci’s team of experts is always available to provide guidance and strategy on how to manage loan defaults with discipline and proactivity. We will also break down the essential components of well written agreements to keep lenders out of future litigation.

SB-1079: Navigating the Litigation Landmines of California’s New Foreclosure Process

Effective January 1, 2021, California implemented a new non-judicial foreclosure process for all loans secured by 1-4 unit residential property providing certain advantages to “Eligible Bidders” in an effort to promote owner-occupancy and affordable housing for said properties. Defects in both the design and implementation of SB-1079 have and will continue to result in mounting litigation surrounding who is an Eligible Bidder, what is an Eligible Bid and even how the process should be conducted. Given that SB-1079 is still in its infancy, Appellate Courts have yet to resolve many of these questions, making it all the more critical to be aware of potential pitfalls.

Whether you’re a lender, trustee, or prospective bidder, this webinar will examine the numerous potential litigation issues presented by SB-1079 and strategies for dealing with them in kind.

Copyright 2022 GERACI LLP
All Rights Reserved
Copyright 2022 GERACI LLP
All Rights Reserved
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