Private money expert witness Joffrey Long receives mortgage award

Joffrey Long

Private Lending Expert Witness Joffrey Long received the California Mortgage Association Education Award for his contributions to private lending education.

The educational programs and people involved have earned CMA a reputation as “where the smart people go.”

—Joffrey Long

IRVINE, CA, USA, May 11, 2022 / — Joffrey Long, private mortgage lender, broker and loan manager, received the CMA (California Mortgage Association‘s) Education Award, the highest honor in education in the field of private money lending. Known as the “Phillip M. Adleson Education Award”, it recognizes individuals who make outstanding contributions to education in the area of ​​private money lending (“hard money”).

Consultation with expert witnesses, statement reports and testimonials are also an important part of Joffrey Long’s work in the area of ​​private money lending. Expert witness cases often require the testimony of an experienced practitioner, such as Joffrey Long.

Private lenders, mortgage brokers and loan managers benefit from education, policy advocacy and networking at CMA. “The educational programs and people involved have earned CMA a reputation as ‘where the smart people go,'” Joffrey Long said.

The award is named after the late Phillip M. Adelson. For several years, he was a member of the education committee and principal instructor of the education programs of the CMA. Adelson was also CMA’s general counsel.

As past education chair of the association, Long led an 8-10 member committee, comprised of private credit practitioners, loan brokers, loan managers, loan compliance consultants and lawyers, all those who worked or provided services in the specialized field of making, arranging, raising capital or managing real estate loans made with funds from private or semi-private (non-institutional) lenders.

Long continues to be a presenter at CMA conferences and webinars, presenting seminar content designed to help CMA members grow their private money lending businesses, stay compliant with laws, regulations and practices, and to strive to be the best sources of private money. loans. He is also an instructor, through an independent continuing education provider ( for continuing education courses required by the national multi-state licensing system. (“NMLS”)
CMA’s educational programs cover an extensive list of ever-changing topics, including:
Licence :
• Are licenses required? What kind and
• NMLS and related approvals
• Real Estate Licensing Department or
California Finance Lender licenses?
• Benefits and Challenges of Operation
under multiple licenses
• Loans and licenses management activity
• Licenses for out-of-state activities
Sources of capital:
• Private investors for whole loans
• Split loans
• Mortgage funds
• Brokerage with institutional private funds
• Lines of credit with banks and others
Private investors:
• Considerations for investors, before
take out a specific loan
• Exemptions from securities registration
• Suitability for investors
• Disclosures to Investors, Regarding Reliance
deeds in general, and as regards specific loans
• Protect investors from legal liability
• Expanded disclosures to investors, based on
recent changes AND on specific loans
Split Trust Deedswhole loans,
and mortgage funds
• Modes of “delivery”, immediate source of
closing funds
• Specific input procedures on
property owned by the investor
• Basic business models and approaches to
• Compliance procedures
• Management
• Accounting
• Cyber-security and privacy protection
• Third party processing procedures
• Banking relationships
• Marketing and advertising
• Assurance
• Determination of possible agency relationships
• Agency you “didn’t ask for”, but got
• Are agency disclosures necessary, and
• Avoid involuntary liability of the agency and
• branch branch
• Scope Limitation or Termination
• “Upstream” issues, responsibility for
agent acts
Third-party creations (TPO)
• Development of a TPO policy and strategy
• Relationship building
• Agreements and documentation
• Limitation of agency and related issues
• Interaction with OPCs and Borrowers
Subscription of loans in private money:
• Consumer loans
• “Bridge” loans
• The “Exemption for commercial purposes
• Differences in underwriting with respect to different investors and sources of capital
• Subscription of different types of properties
Warranty Guarantee
• Identification of property value and usability
• Separating commercial value from pure real estate value
• Consideration of condition-related aspects
• Review tenants, leases and contractual rights
• Document the ability to operate the
property if necessary
• Understand appraisals and properties
ability to generate income
• Changing capitalization rate
• Other ownership relationships, which ones?
will you get/will you not get?
Unusual or “tailor-made” features in private money lending
• Cross collateral
• Partial interest loans
• Leasehold areas
• Partial release clauses
• Future progress
Construction loans with funds from private investors
• Eligible construction projects,
borrowers and transactions
• Grant loans based on “future value” /
investor problems
• Construction funds, disbursements
• Covid-related issues including “supply
chain”, material and labor shortage problems
• Mechanical privilege issues, privilege priority
• Incomplete projects
Environmental problems:
• Understand the importance of
environmental problems
• When the risk of environmental contamination
is higher
• Levels of environmental investigation
• Protect investors from environmental risks
• Environmental disclosure issues
Title insurance: Obtaining and maintaining coverage:
• How much insurance can private money
lenders get?
• Instructions to title insurers
• Review of reports, policies
• Title claims
• Privilege Priority Concerns
• The rapidly changing world of title insurance
Forms, documents and disclosures:
• Preparation of the loan file; third party
services vs own software
• Different stages of origination and related
• Common “pitfalls” in bad lending
Loan, modification and default service
Loan management relationships, investors,
repairers, sub-repairers, borrowers and
• Impound accounts for taxes and other
property charges
• Insurance Challenges
• Delinquency, abstention, loan
modification and foreclosure
• Default interest rate
• Relationships with agencies, challenges
• Bankruptcy: working in and around the
Prevent / Limit Loan Fraud
• Understanding and preventing
types of home loan fraud
• Limitations of title insurance coverage
related to loan fraud
• Capacity of the Borrower/Investor to conclude
Non-judicial or judicial foreclosure
• Changes in the non-judicial world
foreclosure – three main advantages
• New foreclosure laws impacting 1-4 family residences
Joffrey Long’s company originates, arranges and manages private money loans. Consulting and expert witness testimony in arbitrations, trials and depositions is also provided by Joffrey

Stacy Chadwick
South West Bancorp
+1 818-635-1777
write to us here

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