November 05, 2009
Fall 2009 Mortgage Loan Survey
The deepening recession continues to negatively affect the residential real estate market in California and has resulted in expanding delinquencies and foreclosures in not only non-traditional mortgage products, but also in Alt-A and prime mortgage products. Policymakers continue to look for ways to mitigate the effects of the deteriorating real estate market on borrowers who are at risk of foreclosures. It is important that the DFI maintains complete, accurate, and up-to-date information on the real estate loan portfolios of licensees to determine current risk and assess the potential effect of any proposed regulatory or statutory changes at the federal and/or state level on our licensees.
To that end, Commissioner Haraf directs licensees to complete and submit this special report ("survey"), pursuant to California Financial Code section 285. The survey should include data through September 30, 2009 and must be completed and submitted on or before Wednesday, November 18, 2009.
This survey is available in a web form at https://www.survey.dfi.ca.gov. The survey is focused on mortgage loans that are secured by 1 - 4 unit Family Residential Properties (FRPs) and requires that these loans be broken down by type, number, and balance into the following categories:
- Mortgage loan holdings - current and past due by 30 to 89 days and past due by 90 days or more
- Mortgage loan foreclosures (outstanding and sold Other Real Estate Owned) and completed short-sales
- Mortgage loan modifications
- Mortgage loans serviced by your institution for another institution
Please note the following:
The survey website is password protected to prevent non-licensees from submitting responses. Please use the login and password below to access the site.
Password: f@llsurvey09 (the letter "l", not the number 1)
If there is someone other than yourself who you would like to be responsible for completing this survey, please email the person's name, title, and contact information to firstname.lastname@example.org and the DFI will be happy to email them directly.
Additional instructions are provided on the survey web page.
If you have any questions or concerns please contact Kristine De Young at email@example.com or 916-324-7488.
Thank you for the efforts of you and your staff in providing the DFI with this critical information.