Visions of Days Gone By, Or Reinventing the Wheel

In early January, Governor Gavin Newsom presented the Legislature with his proposed budget for fiscal year 2020-2021, which commences on July 1.  Building upon nearly a decade of explosive growth in the economy and stock market, Governor Newsom proposed a $222 billion general fund spending plan, with very significant new...

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Foreclosure Moratorium Proposed

AB 2501 would enact a moratorium on residential foreclosures and evictions. It provides indiscriminately a one year complete moratorium on multi-family and residential mortgages, effective January 1. After that, a borrower, self-attesting that they have a COVID impact, can get two 180-day forbearances.  It has been fast tracked by the...

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UTA Bills Progressing

In California, SB 908 would create a new licensing program for debt collectors. While that bill appears to be moving through the legislative process, with a hearing before the Senate Appropriations Committee on June 9th, we are pleased to report that we have successfully secured an exemption for trustees in...

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Coronavirus Update

During this time of uncertainty UTA will post links on its website to enable you to stay current on the latest information on court closings and shelter-in-place orders from local governments. Because the situation is fluid and unprecedented, if you are unsure about whether a particular court house is open or...

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UTA Virtual Townhall on Coronavirus Set for March 24th

Given the current state of affairs and the orders coming from the federal to local governments, we are holding a virtual townhall meeting to discuss how Covid-19 and the governmental responses are affecting our industry including the closure of public locations, limits on the number of people congregating (what if...

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Taniguchi Case Ruled in Favor of Borrower

UTA joined and supported the California Mortgage Association and the California Mortgage Bankers Association in an amicus brief prepared by Wright Finlay & Zak on the Taniguchi v. Restoration Homes LLC, case. The purpose of the amicus was to get the Court of Appeal to understand that a clear line...

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Court Establishes Loophole for Defaulting Borrower

The Court held in Williams v 21st Mortgage Corporation that a defaulting borrower who breaches the terms of her Chapter 13 plan by failing to make her post confirmation payments to the lender (who then obtains relief from stay) is not required to tender the allegedly current pre-petition payments as...

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