On October 11, SB 94 became law, which imposes various restrictions on Loan Modification companies. Since these companies entered the marketplace, I have been solicited by several of them, for the purpose of gaining access to my clients in need. Although I spoke in depth with a few of them, I found no one who I would refer my clients to. This month, the California State Bar named 16 attorneys who are under investigation for fraud in the field of loan modifications.In addition, our Governor signed 7 other mortgage laws to protect you. For more info look at AB260 which puts more restrictions on mortgage brokers, and bans negative amortization loans, SB36 which requires more from home loan originators, SB239 which make loan application fraud a felony, AB439 which requires clearer language to reverse mortgage inquiries, SB237 which requires registration for appraisal firms, AB957 which allows buyers of foreclosed homes to choose their own escrow companies, and AB 1160 which calls for loan documents to be written in the same language that negotiations were made in.