Consumer Loans

Consumer Loans

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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Can I Charge Default Interest on My Hard Money Loan?

Can I Charge Default Interest On My Hard Money Loan?

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Can I Charge Default Interest on My Hard Money Loan?

What is the legality of charging default interest on hard money loans? Over the years many clients have asked me about the legality of default interest on hard money loans. We are talking about an increase in the interest rate on a private money mortgage due to monetary and non-monetary defaults by a borrower. The […]

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Mortgage Loans to Foreign Nationals

Dennis Doss As the economies of other countries stagnate, foreign investors are increasingly buying United States real estate. Some banks will lend to foreign investors but not at the speed and ease that foreign investors find acceptable. Sometimes the foreign investor needs to close an acquisition quickly, with the plan to obtain a conventional loan […]

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What are Advance Fees and Who Can Charge Them?

By Dennis Doss An “advance fee” is money collected by a loan originator from a loan applicant before a loan has been closed. Due to unscrupulous originators that took advance fees and then failed to procure promised loans, the mortgage law generally disfavors advance compensation. We have three types of mortgage origination licenses in California. […]

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CFL vs DRE–Which is Right for You?

In its newest Doss Guides, Doss Law compares the California Finance Lender and Department of Real Estate licenses. CFL vs DRE–Which is Right for You?

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Don’t Leave Money on the Table–Hire a Subservicer

In this article Doss Law discusses ways to retaining a servicing spread without the burdens of actually servicing mortgage loans. Don’t Leave Money on the Table–Hire a Subservicer

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Borrower Payment Dependent Notes–New Lipstick, Old Pig

Doss Law discusses the emerging practice of using borrower payment dependent notes to raise capital for mortgage loans. Borrower Payment Dependent Notes–New Lipstick, Old Pig

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Don’t Leave Money on the Table—Hire a Subservicer

By Dennis Doss Many private money brokers outsource the servicing of their loans to avoid the stiff rules of the Department of Real Estate as to the handling of trust accounts. I don’t blame them. The number one cause for discipline against mortgage brokers is trust fund mishandling. The DRE is merciless and they have […]

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Bridge Loans on Owner-Occupied Real Property

Bridge Loans on Owner-Occupied Real Property by Dennis H . Doss Note: This post is intended as educational material, not legal advice. Consult a lawyer before implementing any of the information in this post. There is a lot of confusion in our industry concerning the application of consumer protection laws to residential bridge loans. In […]

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