By N. Mitchell Feinstein, Esq. In a previous post, I had discussed the probable passage of legislation in California to require real estate brokers to determine that trust deed investments offered to the public were appropriate for an investor. The bill, SB 978, is still wending its way through the labyrinth known as the legislative process. The reaction from members of the industry with whom I have discussed the prospect of obtaining and reviewing prospective investor information has ranged from unabashed pleasure (“I have been doing this for years, and getting this information has saved me in expensive litigation several times!”) to concern that there is no...
2 of 3 Wise Men Visit CMA
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,...
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