. :-)Under California law, the general rule is that a lender cannot charge more than 10% per year, including points, unless there is an applicable exemption.

Note Buyer" some time ago and I brought up the issue of selling a note that was not properly originated.Will, if your note was seller originated and you can show that the note was exempt I'd say it would be fine.Making a new note is not the way I'd recommend correcting an equity based note, rather modify the existing note and brining it into compliance by an MLO if necessary.

The worst thing anyone can do in life and business is to assume the statistics don't apply to them and they are somehow exempt.  

MAP #: 1011 05120005 HATAMI ZAHIR 8019 IMPERIAL ST Values Current Land $250,000 Current Building $174,700 Current Assessed Total $424,700 Tax Exempt NO Note Values History Tax Year Land Building Assessed Total Tax Exempt 2008 $250,000 $174,700 $424,700 NO 2007 $155,000 $291,090 $446,090 NO 2006 $155,000 $273,860 $428,860 NO 2005 $125,000 $198,060 $323,060 NO 2004 $104,000 $162,345 $266,345 NO 2003 $90,000 $134,855 $224,855 NO 2002 $75,000 $106,335 $181,335 NO 2001 $66,500 $98,350 $164,850 NO 2000 $54,100 $98,350 $152,450 NO The number shown for 2005 shows value as $323,060 when he apparently purchased in dec 05 for $411k.

Principal residences are exempt from withholding, despite the timeframe of ownership.

state specific.. there are 12 states that require full blown state license and NMLS registration.. the rest you can do commercial purpose loans.. and as such are exempt from licensure

The law states what those exemptions are very clearly ie. agent providing substation of values.  

Have you been taking the homestead exemption on your taxes?

Exemptions shall mean dwellings to which this chapter shall not apply.

With that time frame, am I missing the cutoff for the 2 of 5 rule exemption by one day by closing on June 1st, 2018 instead of May 31st, 2018?