News & Analysis as of

Mortgages California

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Sheppard Mullin Richter & Hampton LLP

California Passes Law Extending new Protections to Mortgage Borrowers

On September 20, Governor Newsom signed AB 2424, which establishes a significant set of new foreclosure notification and sale requirements for mortgage lenders. The law is effective as of January 1, 2025....more

Cozen O'Connor

FTC, California DFPI Team Up Against Mortgage Relief Scams

Cozen O'Connor on

The FTC and California’s Department of Financial Protection and Innovation (DFPI) obtained default judgments against six companies doing business as Home Matters USA, Academy Home Services, Atlantic Pacific Service Group,...more

Orrick, Herrington & Sutcliffe LLP

California’s new mortgage servicer during a “state of emergency” to be effective

Recently, California enacted SB 455 to address mortgage servicing during a state of emergency. SB 455 will require a mortgage servicer (transferring a mortgage secured by a property within a proclaimed emergency zone) to...more

Sheppard Mullin Richter & Hampton LLP

California DFPI Publishes New Guidance on Remote Work by MLOs

On February 27, the California Department of Financial Protection and Innovation (DFPI) issued new guidance with respect to the performance of remote work by mortgage loan originators (MLOs) working for licensees under the...more

Orrick, Herrington & Sutcliffe LLP

National bank to pay $2 million in mortgage fee violation class action

On December 19, the U.S. District Court for the Central District of California granted final approval of a settlement in a $2 million class action resolving allegations that a national bank violated California’s Rosenthal...more

Rivkin Radler LLP

The Title Reporter — Fall 2021

Rivkin Radler LLP on

Here is what we cover in this issue of The Title Reporter: A Legal Update for the Title Insurance Industry: •An appellate court in California has ruled that the state’s Quiet Title Act insulated a third party from the...more

Allen Matkins

Why CFL Licensed Lenders Must Submit New License Applications By Year End

Allen Matkins on

Several thousand lenders and brokers are currently licensed by the Department of Financial Protection & Innovation under the California Financing Law.   The CFL generally requires that persons engaged in the business of...more

Davis Wright Tremaine LLP

A Look at the California DFPI's Debt Collection Oversight Measures Thus Far

Since the California Department of Protection and Financial Innovation's (DFPI) formal establishment at the beginning of this year, a number of issues have come into focus as key agency priorities. Among these, debt...more

Buchalter

California Enacts Consumer Debt Collector Licensing Administered by DFPI

Buchalter on

During the 2019 legislative session, California enacted SB 908 – the Debt Collection Licensing Act, Financial Code Division 25, Sections 100000, et seq., requiring consumer debt collectors who are collecting on their own...more

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