Loan Modification CA Bill AB 260 – A Closer Look

The US economy continues to plummet and with it, comes the decimation of the housing condition in the country. One of the states that suffered from the mortgage crisis is California. To lessen, if not completely eradicate, the housing dilemma in the locality, CA Governor Arnold Schwarzenegger signed and approved seven Loan Modification California Bills in the hopes of organizing the mortgage procedures and practices in the state. These laws also contain provisions to protect homeowners and consumers against fraudulent activities rampant in this time of the economic downturn.

One of the bills, AB 260, is slated to take effect on the first quarter of 2010. The said bill aims to restrict mortgage companies and lenders from giving loans with higher risks and interests to borrowers. It also aims to prevent the practice of giving mortgage packages that will increase the interest of a loan over time like offering negative amortization mortgages. Penalties for late payments will also be kept at a minimum of 2% of the total balance of the mortgage. This loan modification California bill will also give the state government more power to enforce lending laws set by the federal government.

But the issue here becomes the questionable efficiency of the law to protect and uphold the rights of homeowners in California.

“Although AB 260 will prove to help California homeowners, the Bill has lots of loopholes that if not addressed properly, could really affect the insurance practices in the state. In fact, a handful of private housing sectors groups in the real estate sector do not approve of AB 260. The California Mortgage Association is just one of the major groups that expressed opposition to this legislation. “

The Bill and the process of modifying loans in general have been under close scrutiny because of the maligned practices of many mortgage restructuring companies. According to those who are opposing the bill, the state should focus more on tightening restrictions on the “middle men” or the third party companies that process borrowers loan modification requests instead of giving mortgage brokers the stick.

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Learning Management System Hierarchies

What is a hierarchy? Why use one?

Many businesses use different departments, organizations, locations, or other structures to distribute and organize their personnel. And when fitting their users into a learning management system, they’ll want to use corresponding hierarchy information, to allow the system to manage how it distributes reports and other training information. For example, a franchised business may use a location-based hierarchy, with one section for corporate-owned stores and another for private franchises. Or a global business may want to manage, and report on, user training by country, city, facility, and department.

Based on user positions in a hierarchy, learning-management-system reports can show certifications achieved by country (at a higher level in the hierarchy) or department (at a lower level in the hierarchy). In the same way, hierarchy-based reports could list transcript results by franchisee or store.

Each hierarchy level can also have an administrator for that level: by store, by department, by function, and so on. Administrators at each hierarchy level and location can receive permission to enter, edit, deactivate, and otherwise manage users within their level and location.

Similarly, reports for each hierarchy level can be generated by users with “reporter” roles in their levels, as well as by higher administrators. For example, to determine who still needs to finish training, store managers can generate reports of how many people passed, failed, or did not finish courses over a selected period of time. These reports could also show who achieved what grades, to help store managers see who still needs to recertify in required skills. Such reports also allow administrators higher in the hierarchy than store managers to see how well the store managers are handling their training responsibilities.

Who’s got the rights?

Another item that must be decided prior to implementing a learning management systems hierarchy is which operational rights you want to grant at each hierarchy level. You may allow only system administrators to enter new user profiles into the LMS. Or you may let only site administrators edit user profiles, assign job roles, and authorize users to take courses.

You also may want to allow some managers at the lowest hierarchy levels (and at levels above them) to run certain reports, but not to administer users in their levels. Instead of making these managers “level administrators,” you could make them “level reporters.” In a typical hierarchy, “level reporters” are associated with specific locations and users in the hierarchy, and can only run reports for these locations and users. Their access to administrative functions is restricted.

Remember that learning management systems hierarchy is a way of organizing and managing the training of your people. It requires some thought. The business rules that you establish for your LMS hierarchy must mirror your organization’s framework and your e-Learning program’s goals and objectives. For this reason, there are many different ways to organize, implement, and manage organizational training, including by online “campuses,” training facilities, classes, user “monitoring groups,” and required job roles, competencies, and learning events. We will address these other groupings in subsequent articles.