Eviction Relief Deal Finalized and Signed by Governor; Reparations Task Force Study Measure Sent to the Governor – No Clear Impact on Real Estate; Bill Requiring Board Representation by Underrepresented Community Members on Public Boards Sent to the Governor; Governor Newsom Signs Bill on Worker Classifications Affecting Appraisers and Home Inspectors; Wealth Tax Bill and Per Employee Bill Both Stall Out

Legislature Passes Foreclosure Publication Legislation; Foreclosure Procedures Substantially Modified by Bill Sent to Governor

CLTA News Express – September 3, 2020 (Bulletin 20/21-16)
As the 2020 legislative session drew to a close, California lawmakers passed AB 1281 (Chau), a bill temporarily extending a pair of exemptions ...

Governor Gavin Newsom recently endorsed Proposition 15, known as the “split roll” ballot proposition, calling the multi-billion dollar tax increase a fair, phased-in and long overdue reform to ...

PPP Loan Forgiveness. The Governor signed Assembly Bill 1577 (Burke) to conform California law to...; Hiring Credit. The Governor also signed Senate Bill 1447 (Bradford), which creates...

The Legislature passed AB 1864 (Limon), the vehicle for Governor Newsom’s proposal to reform the Department of Business Oversight into the Department of Financial Protection and Innovation (DFPI). The legislation ...

On August 26, the Senate stopped proceedings due to Republican Senator Brian Jones testing positive for COVID-19. In a press release, Senate President pro Tempore Toni Atkins declared ...

The Mortgage Industry Standard Maintenance Organization (MISMO) is actively vetting companies pursuant to its remote online notarization compliance certificate program. The vetting process seeks to assure that RON providers ...

The Federal Housing Finance Agency extended its moratorium on foreclosures and evictions for borrowers with mortgages backed by Fannie Mae and Freddie Mac ...

Recently adopted changes to the 2021 ALTA Commitment, Loan Policy and Owner’s Policy are now open to public comment through Dec. 31, 2020. Comments may be submitted to forms@alta.org. The intended ...

A recent blog post by First American Deputy Chief Economist Odeta Kushi indicated that a wave of foreclosures similar to levels seen during the Great Recession is unlikely despite the continuing ...

According to the American Land Title Association, the title insurance industry generated $4.18 billion in title insurance premiums during the second quarter of 2020. Title premium volume ...

Mortgage data firm Black Knight reported that the second quarter of 2020 saw the largest quarterly origination volume on record with nearly $1.1 trillion in first lien mortgages originated in ...

Real Estate Brokerage Redfin reported that 54.5% of Redfin offers on homes faced competition nationwide in August. It’s the fourth month in a row that more than half of Redfin offers encountered ...

The results of Freddie Mac’s Primary Mortgage Market Survey® released on September 10 showed that the 30-year fixed-rate mortgage (FRM) averaged 2.86 percent, the lowest rate in the ...