CORP :: Education and Outreach Nontraditional Mortgage and Loan Information

Education & Outreach Nontraditional Mortgage and Loan Information

Consumer Complaint/Call Center
If you feel you have been a victim or have questions contact us at :
(866) 275-2677 or (866) ASK-CORP
Predatory Lending Fact Sheet — The State of California is working hard to protect borrowers from illegal and improper lending practices while still making sure that people get the credit they need to live the American Dream. Prospective home buyers and other borrowers need to do their part by being careful about the lenders they select. Educating yourself about the techniques that dishonest lenders use will help you avoid becoming a victim of predatory lending.
Finance & Lending Education
- Financial Literacy - Find documents, glossary of terms, links, and other Financial Literacy resources.
- Online Escrow Fraud - Information concerning online escrow fraud.
- Predatory Lending Fact Sheet - Information concerning predatory lending.
- Publications - Follow this link for a list of publications.
- Other Useful Links - Links to other sites.

Desist and Refrain Orders - Search the Department of Corporations database for issued enforcement actions against a particular company or individual.
Ameriquest Mortgage Company
New Century

An Examination of Nontraditional Residential Mortgage Lending Products and Practices – February 2007 Final Report

Reactions to the recent subprime mortgage collapse [pdf]
Preserving the American Dream: Homeownership Preservation and the Subprime Mortgage Crisis September 2007 Final Report
- BF&I Final Report-Part 1 [pdf]
- BF&I Final Report-Part 2 [pdf]
- BF&I Final Report-Part 3 [pdf]
Chaptered vrsion of Senate Bill 385

Survey to Licensees — Survey to obtain information regarding the extent and nature of the non-traditional mortgage loan products being offered by its licensees [Note - Adobe Reader 7.x is required]
Letter from Preston DuFauchard, Corporations Commissioner, regarding — CALIFORNIA FINANCE LENDERS AND CALIFORNIA RESIDENTIAL MORTGAGE LICENSEES - Recent trends in non-current loans suggest that non-traditional mortgage loans pose higher risks than do traditional amortizing mortgage loans.
Non-Traditional Mortgage Loan Survey — Frequently Asked Questions.
Conference of State Bank Supervisors - American Association of Residential Mortgage Regulators: Guidance on Nontraditional Mortgage Product Risk [pdf]
Proposed Rulemaking — California Finance Lenders Law & California Residential Mortgage Lending Act PRO 01/07
Proposed Statement on Subprime Mortgage Lending [pdf]
Commissioners' Comments on Proposed Statement on Subprime Mortgage Lending [pdf]

California Housing and Community Development - Consumer Home Mortgage Information - Find tips for home buyers before you purchase, important links, and other resources to help you avoid common pitfalls that can effect every current and future home owner.
Department of Real Estate – Predatory Lending Prevention
Federal Deposit Insurance Corporation – Interest Only Mortgages and ARMs
Center for Responsible Lending – Non-Traditional Mortgages
The Federal Reserve Board & The Office of Thrift Supervision – Consumer Handbook on Adjustable Rate Mortgages
The Federal Reserve Board, Federal Deposit Insurance Board, Office of the Comptroller of the Currency, Office of Thrift Supervision – Interagency Guidance on Subprime Lending
California Department of Financial Institutions
Federal Department of Housing and Urban Development
California Housing Finance Agency
American Association of Residential Mortgage Regulators