Last week, two of the 3 Wise Men, Guy and Mitch, visited the CMA conference held in Sacramento. Many old friends were greeted and new relationships formed. The Wise Men were happy to receive so much positive feedback regarding our website and e-newsletters that bring news and new ideas to the mortgage lending industry.
The CMA conference covered several important subjects, none more important than the Legislative Update detailing the package of bills proposed by the California Attorney General that seeks to impose stricter limits on foreclosure and lending than those agreed to in the national settlement with major lenders.
While the battle is far from over, the fight to modify the bills will be tough.
Phil Adleson presented an interesting discussion on holder in due course, which led to questions about protection of assignments of notes secured by deeds of trust. Please see the enclosed article by Guy clearing up some questions using a little history lesson.
Other topics covered during the conference included a discussion of the challenges and practical steps involved with handling environmental issues and an interesting look back at the prices of real estate and the condition of the market over time.
Mitch especially enjoyed the opportunity to catch up with Michael Arnold and to get Mike’s insight into the current legislative battles. The biggest fight is over the package of bills spearheaded by California Attorney General Kamala Harris, seeking to impose more onerous restrictions on lending than those obtained in the headline-grabbing settlement with the big bank lenders she spearheaded.
If you are a member of CMA, please log into the website and follow the directions to contact your member of the legislature about this important legislation. The CMA website is http://californiamortgageassociation.com/. Log in to the Members Only area and go to Member Center Legislative Updates, which contains a draft of the letter to send to your member of the legislature.
Tags: California Mortgage Association, stricter limits on foreclosure and lending
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2 of 3 Wise Men Visit CMA
The CMA conference covered several important subjects, none more important than the Legislative Update detailing the package of bills proposed by the California Attorney General that seeks to impose stricter limits on foreclosure and lending than those agreed to in the national settlement with major lenders.
While the battle is far from over, the fight to modify the bills will be tough.
Phil Adleson presented an interesting discussion on holder in due course, which led to questions about protection of assignments of notes secured by deeds of trust. Please see the enclosed article by Guy clearing up some questions using a little history lesson.
Other topics covered during the conference included a discussion of the challenges and practical steps involved with handling environmental issues and an interesting look back at the prices of real estate and the condition of the market over time.
Mitch especially enjoyed the opportunity to catch up with Michael Arnold and to get Mike’s insight into the current legislative battles. The biggest fight is over the package of bills spearheaded by California Attorney General Kamala Harris, seeking to impose more onerous restrictions on lending than those obtained in the headline-grabbing settlement with the big bank lenders she spearheaded.
If you are a member of CMA, please log into the website and follow the directions to contact your member of the legislature about this important legislation. The CMA website is http://californiamortgageassociation.com/. Log in to the Members Only area and go to Member Center Legislative Updates, which contains a draft of the letter to send to your member of the legislature.
Tags: California Mortgage Association, stricter limits on foreclosure and lending