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Sheppard Mullin Richter & Hampton LLP

California Enacts New Mortgage Servicing and Foreclosure Standards

Sheppard Mullin Richter & Hampton LLP on

On June 30, California Governor Newsom has signed AB 130, a budget trailer bill related to housing. This legislation includes new requirements for mortgage servicers of subordinate mortgages, defined in the bill, and took...more

Bradley Arant Boult Cummings LLP

New California Law Threatens to Stall All Second Lien Foreclosures

Bradley Arant Boult Cummings LLP on

On June 30, 2025, California Gov. Gavin Newsom signed a large “budget trailer” bill that will have significant consequences on the mortgage industry. In relevant part, the new law addresses foreclosures on so-called zombie...more

Mayer Brown

Reminder: California’s New Commercial Debt Collection Protections Take Effect July 1, 2025

Mayer Brown on

Companies that service or collect commercial debt are reminded that new practice requirements are taking effect in California starting July 1, 2025. As Mayer Brown reported when California Senate Bill 1286 was enacted in...more

Snell & Wilmer

Recently Enacted California Assembly Bill 2424 and Its Impact on Non-Judicial Foreclosure Procedures

Snell & Wilmer on

The California legislature recently passed Assembly Bill 2424, which, as more fully explained below, will have a significant and imminent impact on the nonjudicial foreclosure process of residential real estate. Existing...more

Allen Matkins

California Bill Would Deem Some Lenders As Licensed

Allen Matkins on

California generally requires that persons engaged in the business of making loans be licensed.  If not licensed under some other statute (such as the banking, credit union or residential mortgage lending laws), a lender will...more

Allen Matkins

Legislator Proposes To Expand CFL To Encompass "Commercial Brokers"

Allen Matkins on

The California Financing Law currently requires the licensing of "finance lenders" and "brokers".   Cal. Fin. Code § 22100.  A "finance lender" is defined to include "any person who is engaged in the business of making...more

Allen Matkins

DFPI Charges Digital Asset Company With More Than 50,000 CFL Violations

Allen Matkins on

Yesterday's post concerned a bill pending in the California legislature that would impose a licensing requirement on persons engaging in "digital financial asset business activity", or holding itself out as being able to...more

Allen Matkins

DFPI Wants To Know: Whom Shall We Regulate?

Allen Matkins on

Last year, California enacted AB 1864, Cal. Stats. 2020, Ch. 157, creating the California Consumer Financial Protection Law (CCFPL) under Division 24 of the Financial Code.  Remarkably, the legislature left it up to the...more

Allen Matkins

DFPI Rings In The New Year By Issuing A Dozen Subpoenas

Allen Matkins on

Yesterday, the Department of Financial Protection and Innovation announced that it had issued "subpoenas to a dozen companies with significant California customer bases, representing the first major action to be taken under...more

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