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Lewitt Hackman

California Code 2951: New Rules for Mortgages in a Divorce

Lewitt Hackman on

One of the most challenging aspects of asset division in a California divorce is dividing mortgage loans. Deciding which spouse will stay in the home is a challenge, but handling the mortgage adds another layer of complexity....more

Buchalter

Caution to Lenders – New Pitfalls to Imposing Default Interest and Late Fees on Defaulted Loans

Buchalter on

On September 29, 2022, the California Court of Appeal First Appellate District, in Honchariw v. FJM Private Mortgage Fund, LLC, held a private lender’s imposition of late charges and default interest constituted an unlawful...more

Sheppard Mullin Richter & Hampton LLP

SB 1079: Changes to Nonjudicial Foreclosure Process Aim to Benefit Tenants, Primary Residence Occupants and Community Groups;...

Sheppard Mullin Richter & Hampton LLP on

After the recent passage of Senate Bill 1079 (“SB 1079”), significant changes to the nonjudicial foreclosure process will go into effect on January 1, 2021 for real properties containing 1 to 4 single-family residences....more

Allen Matkins

Department Issues "Opinion" That Deferred Payment Product Meets Definitions Of "Loans"

Allen Matkins on

As mentioned in my post last week, the Department of Business Oversight issued a press release shortly after Christmas announcing that it had issued a "legal opinion" concerning whether a point-of-sale product constitute...more

Allen Matkins

Supreme Court: 1934 Amendment Repeals 1918 Limitation On Compound Interest

Allen Matkins on

The same year that the Great War ended, the voters of California approved an initiative measure governing allowable interest rates. This initiative remains uncodified but West Publisher designates these statutes as Civil Code...more

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