As you may be aware, President Obama signed the “Jumpstart Our Business Startups Act” (the JOBS Act) on April 5. This bill will make it substantially easier for companies to raise money, although key provisions do not take effect immediately. Will these changes provide opportunities — or challenges — to those selling interests in notes secured by deeds of trust and similar investments? Over the past 25 years, many new forms of securities offerings of interests in notes secured by deeds of trusts or “pool” arrangements for notes secured by deeds of trust have been created, some of which rely on rules that exempt the seller of...
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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