Posts By:
Dennis Doss

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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Dennis Doss to Chair CMA Session on Foreign Nationals

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Cannabis Mortgage Lending

By Dennis H. Doss Cannabis Mortgage Lending Marijuana Loans for the Hard Money Broker Cannabis (marijuana) is listed by federal law as a Schedule I drug under the Controlled Substances Act, the most tightly restricted category reserved for drugs that have “no currently accepted medical use.” On August 29, 2013 and again on February 14, […]

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Business Purpose Lenders – Get Ready for HMDA

by Dennis H.  Doss Starting on January 1, 2018 most business purpose residential private money brokers will be subject to fines by the Consumer Financial Protection Bureau unless they file reports under the Home Mortgage Disclosure Act, known as “HMDA.” Congress thinks the information in the reports is important because it: Helps show whether lender […]

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