HOME MEMBERSHIP CALENDAR JUDICIAL COUNCIL 

FORMS KNOW YOUR 

JUDGES DAILY 

EBRIEFS LA LAWYER




    For Attorneys
    For the Public
    About Us
    Jobs
    LA County
    Bar Foundation
    Law Students
    My Account


LACBA on Facebook.
LACBA on Twitter.
LACBA on LinkedIn.



  Los Angeles Lawyer
The Magazine of the Los Angeles County Bar Association
 
 

January 2013     MCLE Test and Answer Sheet

Test No. 221: Rights in Foreclosure

 
 

Instructions for Obtaining MCLE Credit

The Los Angeles County Bar Association certifies that this activity has been approved for Minimum Continuing Legal Education credit by the State Bar of California in the amount of 1 hour. To apply for credit, please follow the instructions.

1. Study the CLE article.

2. Answer the test questions by marking the appropriate boxes. Each question has only one answer.

3. Photocopies of this answer sheet may be submitted; however, this form should not be enlarged or reduced. Mail the answer sheet and the $20 testing fee ($25 for non-LACBA members) to:

Los Angeles Lawyer
MCLE Test
P.O. Box 55020
Los Angeles, CA 90055 

Make checks payable to Los Angeles Lawyer.

4. You can also fill in the test form and submit it directly to LACBA by clicking "Submit." To submit your test answers online you will need to pay by credit card. After submitting your answers you will be presented with a screen requesting payment information. This information will be submitted in a secure mode which will allow you to safely transmit your credit card number over the Internet. If you prefer not to pay by credit card, please print this answer sheet and submit your responses by regular mail.

5. Within six weeks, Los Angeles Lawyer will return your test with the correct answers, a rationale for the correct answers, and a certificate verifying the CLE credit you earned through this self-assessment activity.

6. For future reference, please retain the CLE test materials returned to you.

 
  Test Sheet
 
 

Mark your answers to the test by clicking next to your choice.  All questions must be answered.  Each question has only one answer. This test is worth 1 hour of credit.*  

1. Which of the following was not a party to the National Mortgage Settlement (NMS)?
 A. Ally Financial, Inc.
 B. Oklahoma.
 C. Citibank, N.A.
 D. California.

2. "Robo-signing" is:
 A. Filing false affidavits in foreclosure proceedings.
 B. Addressed by the NMS.
 C. Addressed by the California Homeowners Bill of Rights (HBOR).
 D. All of the above.

3. "Dual-tracking" is a process in which a mortgage servicer first reviews and considers a borrower's loan modification application before taking any steps to begin a nonjudicial foreclosure.
 True.
 False.

4. Under the terms of the NMS, when a first mortgage loan modification is denied by a settling servicer after an independent evaluation, the borrower does not have any right to appeal the denial.
 True.
 False.

5. The NMS requires the settling servicers to establish a single point of contact for each potentially eligible first lien mortgage borrower.
 True.
 False.

6. The terms of the NMS include funds allocated to:
 A. Reductions of principal balances for underwater borrowers.
 B. Forbearance of principal payments by unemployed borrowers.
 C. Payments to the federal government and certain states, including California.
 D. All of the above.

7. The NMS created a monitor whose duty is to oversee the servicers and ensure compliance with the consent judgments.
 True.
 False.

8. The deadline for a borrower whose home was foreclosed upon between and including January 1, 2008, and December 31, 2011, to file a claim seeking monetary relief under the NMS is January 18, 2014.
 True.
 False.

9. The NMS terms require the settling servicers to comply with the servicing standards set forth therein until December 31, 2020.
 True.
 False.

10. The California HBOR states that its terms supersede the terms of the NMS.
 True.
 False.

11. Under the California HBOR, a "borrower" is any natural person who is a mortgagor or trustor and who is potentially eligible for any federal, state, or proprietary first lien loan modification.
 True.
 False.

12. Some requirements that the California HBOR imposes on a bank depend on the number of foreclosures conducted by a bank in all 50 states in the immediately preceding annual reporting period as established by the bank's primary regulator.
 True.
 False.

13. Effective January 1, 2013, in California, if a borrower has submitted a "complete application" for a first mortgage loan modification, the mortgage servicer must, at a minimum, issue a "written determination" regarding the borrower's eligibility for the requested loan modification before recording a Notice of Default.
 True.
 False.

14. Under the California HBOR, mortgage servicers that foreclosed on 175 or fewer California residential real properties in the immediately preceding annual reporting period are not required to have a single point of contact for borrowers.
 True.
 False.

15. In 2013, whenever a trustee's sale in California is postponed for a period of at least 10 business days pursuant to Civil Code Section 2924g, a mortgagee, beneficiary, or authorized agent shall provide written notice to a borrower regarding the new sale date and time within five business days.
 True.
 False.

16. The California HBOR states that the following remedies are available for violation of certain of its terms, assuming certain conditions are satisfied:
 A. Injunctive relief.
 B. Recovery of actual economic damages.
 C. Reasonable attorney's fees and costs to a prevailing borrower.
 D. All of the above.

17. Under the California HBOR, a tenant or subtenant under a month-to-month or periodic tenancy leasing a rental property that is sold in foreclosure is entitled to receive 60 days' written notice to quit.
 True.
 False.

18. If a tenant is in possession under a fixed-term residential lease entered into before transfer of title at the foreclosure sale, the California HBOR states that the tenant shall have the right to possession until the end of the lease term.
 True.
 False.

19. The California HBOR does not contain any law enforcement provisions.
 True.
 False.

20. The Dodd-Frank Wall Street Reform and Consumer Protection Act established the:
 A. Settlement monitor for the NMS.
 B. Mortgage Fraud Investigation Department.
 C. Consumer Financial Protection Bureau.
 D. None of the above.

Address and Billing

After submitting your answers you will be asked to enter your name, address, and payment information on the next screen. Once you have submitted the current form, you will be switched to a secure mode which will allow you to safely transmit your credit card number over the Internet.

If you do not wish to complete this transaction over the Internet you should print this page and send it to the address listed in Step 3 of the instructions at the top of this page.


 
Before clicking the Submit button, please verify that all questions have been answered. An error message will appear if not all questions are answered.

* The Los Angeles County Bar Association has been approved as a continuing legal education provider of Minimum Continuing Legal Education credit by the State Bar of California. This self-assessment activity will qualify for Minimum Continuing Legal Education credit by the State Bar of California in the amount of one hour.

 


 
   
 

Copyright 2013, Los Angeles Lawyermagazine. All Rights Reserved.

 
   
Los Angeles Lawyer
 
 
 
 
       
   
General Information
 
 
 
 
 
 
 
 
       
   
 
 
 
Online MCLE
 
 
 
 
Plus: Earn MCLE Credit