Contents of CD that Will Be Distributed At Our Upcoming Workshop

I. Code Citations

a. Business and Professions Code Citations – 10166.01 – 10166.17 (Implementation of the SAFE Act under the Real Estate Law)
b. Civil Code Citations – 1090.5 (Requirements for Hiring/Using/Terminating Real Estate Appraisers)
c. Financial Code Citations – 4970 et seq. and 4995 et seq. (California Requirements for “High Cost” and “Higher Cost” or “Higher Priced” Residential Mortgage Loans)

II. “Dodd-Frank” Act

a. HR 2509 (Federal Legislation Sponsored by NAMP/CAMP to Amend Dodd-Frank Regarding LO Compensation)
b. Summary, prepared by S. Guy Puccio and Herman Thordsen, Esquire (A Summary of Significant Issues of This Act that Affect Residential Mortgage Loans and Mortgage Brokers)

III. Federal Reserve Board-Appraisal Regulations

a. Appraisal Regulations (Promulgated by Federal Agencies Applicable to Most Mortgage Loan Transactions)
b. Definitions and Standards from USPAP – Applicable 2010-2011 (Definitions and Standards to be Followed by Appraisers)

IV. Industry Q & A

a. NMLS Analysis (Frequently Asked Q&As)


a. 12CFR 226.32 (Federal “High Cost” Requirements)
b. 12CFR 226.35 (Federal “Higher Cost” or “Higher Priced” Requirements)
c. 12CFR 226.36 (LO Compensation)
d. 12CFR 226.42 (Valuation Requirements)
e. Article from the Federal Reserve Board’s Consumer Compliance Outlook, Third Quarter 2011, The Federal Reserve Board’s Interim Final Rule on Valuation Independence
f. Exempt Transactions (as Revised) by S. Guy Puccio (Brief Statement of Tests to Apply to Establish Exemptions from TILA)

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