Posts Tagged ‘ REFAC ’

Perfection of Ownership Interests in Promissory Notes and Deeds of Trust

Guy Puccio

Prior and subsequent to the enactment of Business & Professions Code § 10233.2 in July of 1992, I served as the Chair of the Real Estate Finance Advisory Committee (“REFAC”) established by the DRE as a joint regulator and industry committee to advise the Commissioner and the Executive Staff of the DRE regarding matters affecting the mortgage brokerage and lending industries. The language for Business and Professions Code § 10233.2 was developed by REFAC under my direction. Two industry counsel were assigned to draft the proposed language to be submitted to REFAC. These legal counsel were Bruce Newman, representing the California Independent Mortgage Brokers Association (“CIMBA”) and...

Read more »