Regulatory

Regulatory

Ten Most Common DRE Violations

By Dennis H. Doss There is nothing worse than looking up your name on the website of the California Department of Real Estate and seeing a disciplinary action listed there. It got there because you were audited by the DRE. It found that, although you did not lie, cheat or steal, your compliance with its […]

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Alternatives to the Multi-Lender Rule

If a private investor relies on you for any aspect of a trust deed investment, you are engaged in the sale of securities. The only scenario I can imagine that would be otherwise would be when an investor brings the potential loan to you, does his or her own due diligence and collects the 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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Private Trust Deed Lending Disclosure and DRE Filing Summary

by Dennis H . Doss  The following is an non-exhaustive summary of key disclosures and filings for private money lending using a DRE broker’s license. This memo is education material, not legal advise. Legal counsel should review your final docs before you use them and your specific DRE filing requirements. Borrower Disclosures in Non-Consumer Loans […]

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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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