Real Estate Finance Committee

Hyatt Regency Hotel

Shoreline Room A/B

Long Beach, CA

Thursday, October 16, 2008

9:00 AM – 11:30 AM

Presiding:

Patricia Bouie-Hinds, Chair

Jimmy La Peter, Vice Chair

Quincy Virgilio, Vice Chair

Malcolm Bennett, Executive Committee Liaison

Beth Peerce, NAR Committee Representative
Diane Carlton, GAD Liaison

Staff:

Matt Roberts, Federal Governmental Affairs Manager
Stan Wieg, Legislative Advocate

I. Opening Comments

III. State Issues

A. C.A.R. Sponsored Legislation

1. AB 1356 (Houston) Agents of Equity Purchasers; Westminister case
2. SB 1737/1054 (Machado) Mortgage broker disclosure of dual roles

B.  Legislation of Others

(Please see Legislative Program bill report on the C.A.R. website for a more complete listing of California legislation on which C.A.R. has taken active positions.)

1. SB 1137 (Perata) Mortgage foreclosure rules
2. SB 1240/1053 (Machado) Mortgage broker registration, reporting and enforcement

3. SB 1448 (Scott) Increased penalties for unlicensed real estate practice

4. SB 1675 (Cox) Calif VA refinancing of veterans' loans

5. AB 1830 (Lieu) Mortgage loan origination and brokerage

6. AB 2880 (Wolk) Bonding and new duties for DRE-licensed mortgage brokers

7. AB 2105 (DeSaulnier) Mandatory reporters of suspected elder abuse
8. AB 2359 (Jones) Assignee liability for mortgages

9. AB 2187 (Caballero) Foreclosures

10. AJR 45 (Coto) Conforming loan limits

IV. Federal Issues

A. Action Items

1. Seller Funded Down Payment Assistance Programs

B. Discussion/Reporting Items

1. Emergency Economic Stabilization Act

2. Future of Fannie Mae and Freddie Mac

3. Housing and Economic Recovery Act of 2008
4. Energy Efficient Mortgages

5. FHA Flipping Rule

6. Regulation Z

7. Banks in Real Estate
8. HUD RESPA Proposal

VII. Other Business

VIII. Adjournment