Industry News

 

Mortgage Information

• SAFE ACT
• Advance Fees/Loan Modification
• DRE Publications & Resources
• FHA/HUD
• New Good Faith Estimate Form Required by HUD
• Loan Modification Disclosure Requirements

Short Sale Fraud

• Short Sales
  An Overview and Warning to Real Estate Licensees Re: Fraud, and Legal and Ethical Minefields.

Foreclosure Prevention

• Citation Toolkit
  Working together to prevent loan modification and foreclosure scams.

California Foreclosure Prevention Act

• Existing Regulations
  
  Below is the application to apply for an order of exemption from Section 2923.52 of the California Foreclosure Prevention Act (California Civil Code Section 2923.52 et seq.). Applicants licensed by the Department of Real Estate under the Real Estate Law can submit their completed applications to the Department of Real Estate at the following address:
  
  Foreclosure Exemptions - Department of Real Estate
  P.O. Box 187007
  Sacramento, CA 95818-7007
  
  Completed applications may also be submitted by electronic mail to foreclosures@dre.ca.gov.
  
  
• Application for Exemption - Applications will be accepted on or after June 15, 2009
• Spreadsheet for Data Reporting
• Exemptions under the Department of Real Estate
  • Exemptions under the Department of Corporations
  • Exemptions under the Department of Financial Institutions
• Consumer FAQs

Important Information: California Foreclosure Consultant Registry

Effective July 1, 2009, it will be unlawful for a foreclosure consultant, as defined in Civil Code Section 2945.1 to engage in the foreclosure consultant business unless it has registered with the Attorney General’s Office at: http://www.ag.ca.gov/register.php. All foreclosure consultants operating in California must post a $100,000 bond and register with Attorney General’s Office by July 1, 2009 and submit the following information:

• Name, address, and telephone number;
• All names, addresses, telephone numbers, websites, and e-mail addresses used or proposed to be used in connection with their business;
• Copies of all advertising;
• Copies of each different contract the consultant will use with consumers; and
• A copy of its $100,000 bond

For more information please visit: http://ag.ca.gov/consumers/general/foreclosure_reg.php.

SB 94 – Prohibition of Advance Fees for Residential Loan Modifications

• SB 94 – Prohibition of Advance Fees for Residential Loan Modifications

Press Releases

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