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1. MORTGAGE-e-ALERT© (Annual Subscription)

$150.00

The Mortgage-e-Alert© is published at least four times per month. The subscription fee is for one year. The Mortgage-e-Alert© keeps you informed on the latest changes in the laws, regulations and cases governing the mortgage industry, including RESPA prosecutions and civil penalties; TILA/Reg Z changes, New nontraditional mortgage laws and regulations (both federal and state); changes in the laws and regulations of the various states; causes of discipline to licensees in various states such as the California Department or Real Estate, California Department of Corporations discipline of CFL and RMLA licensees, Nevada Mortgage Lending Division Licensees.  This allows you to avoid the problems that cause other licensees to be disciplined.  The Mortgage e-Alert© allows you to maintain compliance in a heavily regulated field, where rules are constantly changing. Criminal indictments for mortgage fraud are published to give you additional methods of fighting fraud and checking to see if you have brokered or funded any loans from these parties or entities for purposes of loss mitigation.  Proposed new laws and regulations and commentary are published concerning all states as we discover them as well as on TILA, Reg Z, RESPA, HUD/FHA before they become law so you have advance notice to prepare your marketing ideas. Keep the e-Alert in one file so you can later do a "word search" by remembering you read it and save the legal fees instead of asking your legal counsel. 

 

2.  SAFEGUARDING PRIVACY MANUAL  ( 2009)

$350.00

You are required as brokers, lenders, appraisers or title companies to have the manual that is distributed at the seminar we discuss how to use it to stay out of trouble.  Penalty for not having one can be as high as $100,000.

 

3. RESPA/TILA SYLLABUS (2009)                                                                                                                                        

$190.00

The Real Estate Settlement Procedures Act (RESPA) covers referral fees and how to pay others legally, as well as special comments and the Home Mortgage Disclosure Act disclosures required to determine high rate high fee loans and the Fair Housing Act. This straightforward syllabus addresses some of the most commonly asked questions, including the Yield Spread Premium and referral fees.    Contains the changes to Truth In Lending (TILA), Section 32 and Section 34 lowering the threshold of high rate-high fee loan. Lists the predatory lending restrictions that you may NOT use in the high rate high fee (Predatory Loan) as defined by Reg Z. 

4.  HOW TO SURVIVE A DRE AUDIT WITHOUT A LAWYER (2009) 

$350.00

This new edition has major changes including the nontraditional mortgage requirements and new RE 885 Mortgage Loan Disclosure Statement (MLDS).  It allows you to audit yourself for compliance with the DRE laws and regulations without a lawyer.  Explains Commissioner's regulation 2841 DRE allowing unlicensed employees to take the 1003 applications and how they can legally quote rates. Explains how to obtain payment from escrow for the credit report and/or appraisal fee so there is no violation of DRE Trust Account laws.  Explains the Reverse Mortgage Loan disclosure with an example of one you can use.  Broker must initial and date documents referred to in regulation 2841.  Several of our clients have used this for self-auditing without a lawyer and the DRE later found zero violations.

5. HOW TO SURVIVE A CFL AUDIT WITHOUT A LAWYER (2009) 

$275.00

This allows the Quality Control officer to self-audit the company license and files so it stays in compliance with the Department of Corporations laws and regulations.  Explains  process of how CFL is now verifying loan officers are in fact W-2 employees.

6.  IDENTITY THEFT PREVENTION MANUAL REQUIRED BY FEDERAL LAW EFFECTIVE MAY 1, 2009 (2009)   Cost is $250 if a member of CAMB, NAMB, OR ARIZONA ASSOCIAITON OF MORTGAGE BROKERS

$500

This allows the the employees and Quality Control officer to self-audit for identity theft "red flags" as required by the FTC pursuant to Title 15 of the United States Code and Title 16 of the Code of Federal Regulations.  Failure to have a manual if identity theft occurs leaves the mortgage broker and mortgage banker liable for civil damages, punitive damages and a civil lawsuit the the United States Attorney General .
7. HOW TO SURVIVE A NEVADA MORTGAGE LENDING DIVISION AUDIT WITHOUT A LAWYER (2008)  $350.00
The Nevada MLD Audit Manual will update you on laws and regulations used by MLD in auditing licensees.  It will explain  issues that can trigger an audit.  The manual covers disclosures required to be in your loan files and separation of business operating from the same location.  
8. EMPLOYER OBLIGATIONS UNDER MINIMUM WAGE AND OVERTIME LAWS  (2008)  $375.00
This syllabus discusses minimum wage and hour laws including the Federal Fair Labor Standards Act and California and Nevada laws, including exemptions from minimum wage and overtime for certain types of employees. In certain states such as Arizona it explains why you can be personally liable in addition to the corporation for unpaid wages of employees.
9. DIVISION OF LABOR CONTRACT (2008) $375.00
This contract is for dividing labor between authorized licensees concerning mortgages. It is written in compliance with RESPA. 
10. HOME EQUITY SALES CONTRACT (2008)

$750.00
The Home Equity Sales Contract Act requires the Contract for the purchase and sale of a Home in Foreclosure to strictly comply with the California Civil Code. Otherwise you could be subject to punitive damages.  One of the provisions under the Home Equity Sales Contract Act requires the Purchaser to provide the Seller with a Notice of Right to Cancel, allowing the Seller to cancel the Contract with the Purchaser until midnight of the 5th business day following the day of signing the Contract or until 8 AM on the day scheduled for the sale of the property, whichever occurs first.  If you would like to know more about this or other provisions, please contact the LAW OFFICES of HERMAN THORDSEN.  The Law Offices of Herman Thordsen offers a Home Equity Sales Contract specifically prepared to address the provisions of the Home Equity Sales Contract Act.
11.  PREDATORY LENDING LAWS IN THE UNITED STATES (2008)

$175.00

Discusses the status of the federal and state predatory lending laws. A good book to have if you do subprime mortgages in multiple states.

12.  CASES, LAWS, LEGISLATION AND REGULATIONS AFFECTING THE MORTGAGE LOAN INDUSTRY (2008)

$175.00

This casebook contains the laws, regulations, rules and cases involving the mortgage loan industry for California, Nevada and other states. This includes, but is not limited to,  TILA, RESPA, employer/employee issues, licensing issues in the various United States, and mortgage fraud.   It also presents Mr. Thordsen's comments on how to make changes to comply keeping your overhead in mind. Organized by subject matter, in an easy-to-read format, provides you with an understanding of different areas of regulatory compliance and law as they affect your business.

13.  TELEMARKETING AND PRIVACY LAWS AND REGULATIONS (2008)

$175.00

The Telemarketing “Do not Call List” Federal Trade Commission Regulations carries penalties as high as $11,000 fine per violation.  This manual also includes information on privacy rules at the state and federal levels.

 

           

14.  MORTGAGE FRAUD (2008)

$105.00

This includes methods for the lender to uncover fraud (complete with new indictments and fraud lawsuits) along with relevant criminal, civil, state, and federal laws. Review will allow an underwriter or loan processor to locate fraud more easily. It includes recent indictments, convictions and sentencing. 

 

15.  HOW TO SURVIVE A HUD AUDIT WITHOUT A LAWYER  (2008)

$225.00

Learn the violations that HUD searches for when they audit your files. Learn the documents that are missing from your loan files. See the major violations discovered by HUD; such as dual employment by employees causes HUD to make you refund the points and fees. Learn the best way to reply to a HUD "Findings Letter."

 

16.  HUD QUALITY CONTROL PLAN (2008) 

$375.00

Learn how to stay in compliance as required by the Mortgagee Handbook, 4060.1, REV-2, Chapter 7. The requirements for the Quality Control Plan have changed.  This manual incorporates those changes.

 
If you are interested, please contact Herman Thordsen or Loretta Lee at (714) 662-4990

If you desire a copy of one or more of the above, please mail your check payable to the Law Offices of Herman Thordsen, and mail to:

Law Offices of Herman Thordsen
Post Office Box 28079
Santa Ana, CA 92799-8079
ATTN: Publications

Your order will be forwarded to you upon receipt of your check. I trust you will find it beneficial and informative.

 

THE INFORMATION HEREIN IS NOT LEGAL ADVICE.
AN ATTORNEY SHOULD BE CONSULTED
IF YOU DESIRE LEGAL ADVICE.

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Last Updated:  11/17/08

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If you have comments or suggestions, please contact our offices in Southern California call (714) 662-4990. Northern California and out of state call toll free (888) 667-8529.No information on this page, or on any other page within this site, is to be considered legal advice. No information should be used before obtaining competent legal counsel.  The Law Offices of Herman Thordsen does not, by linking to outside URLs, imply any endorsement of the publisher (s) of, or the source (s) of the content for, or the actual content of those pages, and expressly disclaims responsibility for any results of users' access to, or use of, such pages or the information they contain.