[WEBINAR] Oh California – A Guide to DRE and DFPI licensing, Usury, Loan Sales, and Daily Compliance

Confused by the mortgage lending regulatory lay of the land in California? Get in line.

Unlike most of the country, California regulates mortgage lenders through its Department of Real Estate (DRE) AND the Department of Financial Protection and Innovation (DFPI). Understanding the interplay between these two regulators can be confusing. Beyond licensing and regulators, California regulates far more than almost any other state including complex usury laws, regulations on loan sales, tablefunding restrictions, complex late charge restrictions, limitations of interest charges, and a series of other potential landmines for mortgage lenders. In one succinct presentation we provide you the tools necessary to understand how to make loans in California without accidentally shooting yourself in the foot in the process.

You will learn:
• The difference between a DRE Broker’s license and DFPI’s CFL license.
• What license may be necessary when you buy, sell, service and broker loans.
• Whether your debt fund and its affiliates all need to be licensed.
• Whether you and your employees need to be additionally licensed.
• California’s regulatory climate related to tablefunding and other secondary market transactions.
• Construction loan limitations and complications.
• Loan level limitations such as usury, late charges, and prepayment restrictions.

This webinar was hosted by Nema Daghbandan, Esq., and Kevin Kim, Esq., Partners at Geraci LLP.

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