Private Money Mortgage Lending Training – Hard Money Lending Boot Camp
Hard Money & Private Money Lenders:
Jump Start Your Business
California DRE brokers have the opportunity to learn hard money lending — one-on-one — with Dennis H. Doss, a 42-year veteran of private money mortgage law and Manager of Doss Law, LLP in Irvine, California. New to hard money lending? Welcome aboard. Have you been in the private money / hard money lending business for some time or are you a part-time investor wanting to step up your lending to the next level? Start your mortgage lending training with Dennis and learn how to smartly grow your business while proactively staying out of trouble with the numerous government oversight bureaucracies.
Mortgage lending training with Dennis H. Doss
You determine the pace you want to follow. Recording is not permitted.
The 10-session* video boot camp will cover:
- Your Mortgage Company. In this segment of mortgage lending training, Dennis will cover entity structures, licensing, DRE online registration, advertising, loan officer requirements, capitalization, DBAs (FBNs), banking and other nuts and bolts of owning a mortgage company.
- Defining Your Products. In this session, he will help you define the types of loans you will offer, including the competitive landscape, current rates, and consumer vs business credit.
- Landing the Deal. Dennis will walk you step by step through the loan origination process, including the questions to ask to avoid wasting time, creating a letter of intent (template provided), loan applications, clarifying agency, and early borrower disclosures.
- Underwriting the Deal. Before you present this loan to investors, you must know it is solid. He will walk you through the process of opening a title order, engaging an appraiser, using quick valuation tools, list of docs to ask the borrower for, the role of credit reports, background checks, and recognizing identity theft.
- The Private Investor Process – Getting the Money. Obtaining private investors, the Loan Summary (template provided), the private investor disclosure process, obtaining a “spread” in the deal, servicing retained vs released, the sale and servicing agreement (templates provided). Dennis will walk through a list of disclosures (hyperlinks or templates provided) so you understand the role of each. We will also discuss the handling of investor money for the loan and the lawful sequence you must follow to do it correctly.
- Documenting the Loan from the Borrower Side. Here, he will discuss documentation alternatives, such as a loan doc service vs in-house vs attorney-closed, what documents your package should contain (list provided), guarantees, role of environmental guarantees and how to protect yourself from forgery claims. Dennis will go through an actual set of loan docs to discuss how and why they are used in loan transactions.
- Fractionalizing a Loan. Some loans require the use of multiple investors. He will cover your alternatives, including the multi-lender rule, Corp. Code 25102(f), and SEC Rule 506, as well as your DRE reporting responsibilities once you start fractionalizing loans.
- Analyzing Title. Dennis will walk you through a preliminary report from a title company and discuss what to look for, endorsements, exclusions, and other title-related issues.
- Closing and Booking the Loan for Servicing. He will go through the final closing process and what you are expected to do to finish the deal. Then, Dennis will shift to boarding the loan with a servicer and your role as the loan is being collected.
- DRE Reporting. In this final chapter, he will take you through your filing and reporting responsibilities with the DRE.
*Each session is 30-60 minutes
Meet Your Mortgage Lending Training Coach
Dennis H. Doss has 42 years of experience in law and finance – a veteran of hard money lending. His firm, Doss Law, LLP, represents the Who’s Who of private money lending in California, including many clients with hundreds of millions of dollars under management. He is one of the best-known educators in the business and has taught hard money seminars for over three decades. Below is a partial list of his publications and speaking engagements. Dennis is famous for taking a complicated topic and turning it into plain, no-nonsense, and digestible English. You will be speaking one-on-one with Dennis and interacting in real-time with this very seasoned expert of the hard money business.
Publications (all on www.dosslaw.com)
- Quiz to test your knowledge of exempt loan transactions
- Newest Doss Guide Covers Borrower Disclosures for Private Money
- Exodus Away From Direct Sales of Hard Money Loans to Private Investors
- California Federal Court Confirms Tender Requirement to Foreclosure Challenge
- Unconscionability: New Weapon for Commercial Borrowers?
- Loan to Business Entity Homeowner Struck Down
- Mortgage Debt is Now Regulated Under California’s Consumer Debt Collection Law
- DRE Withdraws its Attack on Owner-Occupied Business Purpose Loans
- Default Interest: New Challenges Expected
- California Passes Small Business Truth-in-Lending Law
- Finder’s Fees for Raising Capital
- Advantages of Converting your Private Money Mortgage Pool to a REIT
- Often Overlooked Consumer Loans for Private Money
- Owner-Occupied Construction Loans by Private Money Lenders
- Cannabis Mortgage Lending
- Business Purpose Lenders: Get Ready for HMDA
- Is Your Personal Guaranty Up to Snuff?
- Can I Charge Default Interest on My Hard Money Loan?
- Thinking of Extending Your Reach Beyond California?
- Ten Most Common DRE Violations
- Alternatives to the Multi-Lender Rule
- What are Advance Fees and Who Can Charge Them?
- CFL vs. DRE: Which is Right for You?
- Don’t Leave Money on the Table – Hire a Subservicer
- 4.5% Senior Debt in a Mortgage Pool: Insanity or Brilliance?
- Borrower Payment Dependent Notes: New Lipstick, Old Pig
- TRID Applicability and Timeline
- Bridge Loans on Owner-Occupied Real Property
- Business Purpose Exemption Simplified
- Challenge Begins to DRE’s Attack on Owner-Occupied Business Purpose Loans
- Mortgage Loans to Foreign Nationals
- Trust Borrower Shelters Under Consumer Protection Laws
- HMDA Threshold Raised By CFPB
- CFPB Must Say Why Before Investigating You
- Distressed Assets Funds
- Private Trust Deed Lending Disclosure and DRE Filing Summary
|January 2020||Corp Code 25102(f)||California Mortgage Association (CMA)|
|July 2019||Servicing Fees||CMA|
|July 2019||Cannabis Disclosures||CMA|
|April 2019||Mortgage Funds||CMA|
|February 2019||Federal Disclosures in Business Purpose Loans||CMA|
|July 2017||Loans to Foreign Nationals||CMA|
|January 2017||Common DRE Violations||CMA|
|July 2016||Private Investors||CMA|
|July 2016||Cannabis Lending||CMA|
|July 2015||Mortgage Securities||CMA|
|June 2014||ARM Loans||CMA|
|April 2014||Ability to Repay||CMA|
|April 2014||License Choices||CMA|
|January 2014||Dodd Frank||CMA|
|October 2013||Lawsuits in Private Money||CMA|
|January 2013||Ability to Repay||Online|
|January 2013||Mortgage Pool Update||Online|
|December 2012||Section 32, Step by Step||Online|
|July 2012||Consumer Loan Origination||CMA|
|April 2011||Regulation Z Update||Online|
|January 2011||Mini Pools||Online|
|April 2010||Servicing Agreements||Online|
|September 2010||Flipper Loans||CMA|
|January 2010||RESPA Update||Online|
|September 2009||Section 32 and Timing||Online|
|April 2008||High Cost Loans||CMA|
|January 2008||Non-Traditional Mortgages||CMA|
|April 2006||Regulation Z||CMA|
|April 2007||Holden Act||CMA|
|July 2007||Common DBO CFL Audit Issues||CMA|
|July 2007||Presentation to Pool Managers||CMA|
|April 2006||Regulation Z Update||CMA|
|July 2005||Unruh Act||CMA|
|October 2005||CFL Lending||CMA|
|October 2004||Truth in Lending Explained||CMA|
|February 2002||New High Cost Mortgage Laws||CMA|