Dennis Doss, Author at Doss Law | Private, Hard Money & Mortgage Lender Lawyers

Challenge Begins to DRE’s Attack on Owner-Occupied Business Purpose Loans

May 31, 2019 Dennis H. Doss Christopher J. Donovan Financial Code Sections 4970-4978.8, California’s High Cost Mortgage Law, became law in 2001. It applies to “covered loans,” meaning consumer loans under the Fannie Mae conforming loan limit secured by borrowers’ principal dwellings where one of two thresholds are crossed: (a) the APR exceeds by more […]

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Finder’s Fees For Raising Capital

By: Dennis H. Doss and Christopher J. Donovan DOSS LAW, LLP We are frequently asked about the legality of finder’s fees paid to raise capital for mortgage transactions and pool investments. A finder’s fee is compensation to someone who finds money for an investment. It provides an incentive to the finder to […]

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Advantages to Converting Your Private Money Mortgage Pool to a REIT

By: Dennis H. Doss and Christopher J. Donovan DOSS LAW, LLP President Trump’s Tax Cuts and Jobs Act (“TCJA”) Public Law No: 115-97 (signed into law on 12/22/2017) provides substantial tax savings to real estate investment trust (“REIT”) investors. The Act (Section 199A) allows individuals to deduct up to 20% of ordinary REIT dividends, with […]

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CFPB Must Say Why Before Investigating You

CFPB v. Source for Public Data, LP Fifth Circuit Court of Appeals, September 6, 2018 Dennis H. Doss Christopher J. Donovan Let’s face it, it takes guts to stand up to the Consumer Financial Protection Bureau, the federal Dodd-Frank watchdog agency. Once such challenge was decided on September 6, 2018 by the federal […]

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Unconscionability: New Weapon for Commercial Borrowers?

De La Torre v. CashCall, Inc. California Supreme Court August 13, 2018 Dennis H. Doss Christopher J. Donovan On August 13, 2018, California’s Supreme Court published a decision on unconscionability that sent shockwaves through the California lending industry. We expect to see it being used, not only against non-prime consumer loans, but also […]

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California Federal Court Confirms Tender Requirement to Foreclosure Challenge

Lane v. Wells Fargo Bank Federal Eastern District of California July 12, 2018 Dennis H. Doss Christopher J. Donovan It is not unusual for a borrower to challenge a foreclosure by a court action against a foreclosing lender. However, in Lane v. Wells Fargo Bank, the Federal District Court for the Eastern District […]

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Owner-Occupied Construction Loans by Private Money Lenders

by Dennis H . Doss Like consumer bridge loans, consumer ground-up construction loans fit the private money model like a glove. They are short-term, usually one year or less, the borrowers are typically creditworthy and the yields are in the double digits. Banks and other mortgage lenders have and will capture a large part of this market, but there […]

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Dennis Doss to Speak at CMA About Loan Guarantees

Dennis Doss will join Glenn Goldan and Julia Wei to present a seminar on guarantees used in the lending business, including general guarantees, loan-specific guarantees and construction completion guarantees. The seminar will cover not only the creation of guarantees but also enforcement of them through litigation and common defenses. Their presentation will be at 1:30 […]

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