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.
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About the Author: Annette Gomez
After earning her Bachelor’s degree and Paralegal Certificate from California State University, Annette started Just Document Preparation in 1996. After serving as an officer on the board of the California Association of Legal Document Assistants for 3 years, she was nominated to serve as Vice President in 2008. During that time, as President of the Inland Empire Chapter, she facilitated monthly educational workshops with attorneys, judges, and other professionals for the purpose of increasing professionalism in her field. Until they disbanded, she was a member of the National Association of Legal Document Preparers. While serving as an Advisory Board Member of Maric College’s Legal Document Assistant Program in Pomona, she reviewed and gave input on their curriculum and spoke to the students about the legal document assistant profession. In 2009 she became a real estate broker forming G&G Real Estate. To adhere to a higher standard of ethics, she joined the Inland Valley Association of Realtors, the California Association of Realtors and the National Association of Realtors. She is also a notary public and member of the National Notary Association. Annette is listed in Strathmore’s Who’s Who of Business Professionals. Bonded and Registered legal document assistant: LDA#062, Riverside County.