Meet our presenters
Review the program
Pricing and Registration
Seminar Overview

  

The Program

8:00 a.m. - 9:00 a.m.
Session 1: Q&A on California Foreclosure Requirements
June Christy , Vice President of Operations, Standard Trust Deed

9:00 a.m. - 10:00 a.m.
Session II: California Home Prices: When Will We See Bottom?
Nima Nattagh, Ph,D. Principal, Geostat Advisory Services

Topics covered:
· Are homes overvalued in California? If so, by how much?
·Are some areas more susceptible to price corrections than others?
·What sort of price correction can we expect?
· When will home prices reach equilibrium?
· What measures should prudent lenders apply when valuing residential real estate in California?

10:00 a.m. - 12:00 p.m.
Break

10:15 a.m. - 12:30 p.m.
Session III: Surviving and Prospering in a Changing World
Spencer Scheer, Esq., Scheer Law Group, LLP, presenter

Topics covered:

·      Subprime fall out what has happened-what is likely to happen. Is the worst over or yet to come?
·      Regulatory responses to subprime and non-conventional loans
  -   New DRE disclosure requirements for mortgage brokers in California (10 CCR 2842).
  -   SB 385: This bill, signed by the Governor’s and effective Jan. 1, 2008, will change the way banks, credit unions and DOC/DRE brokers do business. You will become an insurer of your borrower's ability to understand the loan and the consequences of non-payment. Yes, there are criminal penalties.
  -   Proposed changes to the bankruptcy code may remove specific mortgage lender protection provisions now in effect.
·     Auto lenders: New case law changes the playing field for auto lending. The effect of the Arcadia case on repossession rights: the appeal has been denied and the case will not be certified. Now what?
·     Bankruptcy responses to real estate subprime lending fall-out:
  -   Cram downs are back. Recognize them and protect yourself.
  -   Plan confirmation issues: Local bankruptcy rules have made it even easier for borrowers to rearrange your loan rights and eliminate your security interest.
  -   Cash collateral issues
·     Borrower or third-party personal liability: It can be the difference between collecting and a write-off. Understanding the following will help:
  -   When can you obtain a personal judgment on a loan?
  -   Sold-out juniors and short sales
  -   Loan fraud/appraiser fraud
  -   Broker/lender and lender/investor agreements and issues to consider
·     Loss mitigation tools and strategies. Each of these can save you thousands of dollars:
  -   Forbearance and loan modification agreements: What you need to know to protect your interests
  -   Obtaining rents with and without a receiver
  -   Guarantees: Can they be enforced? When?
      : Judicial foreclosure. Is it a viable option?
      : Reaffirmation Agreements. How do you get them?
      : Responses to loan fraud.
      : Obtaining judgments that will withstand bankruptcy
      : Evictions and post-foreclosure sale agreements that allow your borrower to stay on or repurchase. This is a minefield and must be carefully negotiated.



12:30 p.m.
Closing Remarks
Scott Myers, President, Standard Trust Deed