On October 11, SB 94 became law, which imposes various restrictions on Loan Modification companies. Since these companies
entered the marketplace, I have been solicited by several of them, for the purpose of gaining access to my clients in need. Although
I spoke in depth with a few of them, I found no one who I would refer my clients to. This month, the California State Bar named 16
attorneys who are under investigation for fraud in the field of loan modifications.
In addition, our Govenor signed 7 other mortgage laws to protect you. For more info look at AB260 which puts more restrictions on
mortgage brokers, and bans negative amortization loans, SB36 which requires more from home loan originators, SB239 which
make loan application fraud a felony, AB439 which requires clearer language to reverse mortgage inquiries, SB237 which requires
registration for appraisal firms, AB957 which allows buyers of foreclosed homes to choose their own escrow companies, and AB
1160 which calls for loan documents to be written in the same language that negotiations were made in.
entered the marketplace, I have been solicited by several of them, for the purpose of gaining access to my clients in need. Although
I spoke in depth with a few of them, I found no one who I would refer my clients to. This month, the California State Bar named 16
attorneys who are under investigation for fraud in the field of loan modifications.
In addition, our Govenor signed 7 other mortgage laws to protect you. For more info look at AB260 which puts more restrictions on
mortgage brokers, and bans negative amortization loans, SB36 which requires more from home loan originators, SB239 which
make loan application fraud a felony, AB439 which requires clearer language to reverse mortgage inquiries, SB237 which requires
registration for appraisal firms, AB957 which allows buyers of foreclosed homes to choose their own escrow companies, and AB
1160 which calls for loan documents to be written in the same language that negotiations were made in.
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Riverside: 951-685-5444
Rancho: 909-458-0664
Murrieta: 951-696-5353
Temecula: 951-297-3515
Rancho: 909-458-0664
Murrieta: 951-696-5353
Temecula: 951-297-3515
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