The Overlooked Rules that Apply To Business Purpose Loans: California Edition

In this webinar, Melissa C. Martorella, Esq. and Laine Prescott, Esq. gave a brief overview of the federal laws that apply to business purpose loans, which many lenders lose sight of because they assume federal laws only apply to consumer loans. They then pivoted to a California specific discussion and focused on state requirements for business purpose loans secured by property in the state. They covered which California laws apply to all loans, to loans originated by licensed DRE brokers, and to loans originated by California Finance Lenders. The webinar gave business purpose lenders a refresher on federal requirements, and helped California lenders and brokers (or those looking to enter the market) confirm they are following the rules in the state.