By David Duner, CPA (Retired)The real estate market may have some unpleasant surprises for borrowers who lose their property due to abandonment or foreclosure of their real property. The focus of this article concerns lender and broker IRS reporting requirements...
By T. Robert Finlay, Esq. and Jonathan D. Fink, Esq.California Court of Appeals Gives Industry a Big WinWhen it Comes to Unwinding a Foreclosure Sale For decades, lenders have battled third party purchasers in court over whether a mistaken foreclosure sale can be...
By Pam StricklandThis article previously appeared in Pam Stickland’s newsletter, Stricktly Strickland. Be careful what you say and how you say it. Choose your words carefully! The most common way of interacting with clients in this day and age is through emails,...
Ask Me Corner:When a property is vested in a trust, corporation, or LLC, verifying proper authority is essential for both loan enforceability and investor protection. We asked two CMA lenders to share what documents they prefer to collect and who should review them....
By Michelle R. Rodriguez, Esq.COMPLIANCE CORNER:Private lenders and mortgage brokers in California often ask whether to operate under a Department of Real Estate (DRE) broker’s license or a California Finance Lender (CFL) license. While both licenses authorize lending...
"Ask Me" Corner:Welcome to the new “Ask Me” Corner, where we ask CMA members about their experience with various industry practices and what best practices they use in their offices. This month, we’re asking, “how do you handle reviewing title policies in your...