Thank you for participating in our Month of Giving. If you’ve chosen to purchase a gift for a girl in need, here are some ideas. We’re buying for girls ages 11-19:

Clothing (sizes 14/16/teen size 0-13)
Grooming items and Cosmetics
Gift cards to Target, Walmart, etc.
Books, notebooks, pens

All gifts are 100% tax deductible.

Streamline the escrow process and prevent closing delays by following these simple tips:

Sellers

• Submit all escrow documents to escrow holder ASAP.
• Provide completed Seller Information Sheet and Statement of Information Sheet. Why?
  • The Seller’s Information Sheet enables the escrow holder to obtain loan payoff information and order HOA documents needed at the close of your escrow.
  • The Statement of Information Sheet allows the title company to eliminate any judgments, liens, etc., which do not belong to the Seller but has the same name.
• When returning signed documents, send a check or credit card information for obtaining HOA documents and 9A report (if applicable), both of which are integral parts of the Due Diligence documents. Standard Due Diligence period is 17 days.
• Corporations should provide articles of incorporation and domestic stock certificate to identify the signers. LLC should likewise provide LLC-1 and LLC-12.

Buyers

• Deposit is to be in escrow within 3 business days from the date of acceptance.  Electronic transfer is most efficient to avoid any delays in processing; otherwise clearance of funds must be obtained to process the file.
• If obtaining a loan, minimize delays by providing lender information ASAP to the escrow holder- the loan can be the main cause of extended (delayed) escrow closings.
• Complete your investigation of the property and review all documents within the contingency period.
• Customary timelines for Due Diligence is 17 days, and Loan Contingency is 21 days.

Happy New Year! We’ve got the latest updates for you already, most notably changes to the Non-Disclosure Transfer Tax on grant deeds and the Notary Consumer Disclosure Requirement. Make sure you’re up to date!

This November, the California Association of Realtors (CAR) is updating the Residential Purchase Agreement (RPA) form. Have you downloaded it yet? The updated form is now available for you. Click here.

It was great to see everyone at last week’s KOAHA Convention & Trade Show. From the compelling speakers to the great networking, we loved being there. Check out our pix from this event.

This summer, it was announced that a huge change is coming with regard to Transfer Tax Requirements. Up to this point, sections of the California Revenue and Taxation Code allowed a document requiring transfer tax to be recorded without disclosing the tax on its face if a nondisclosure transfer tax form was attached and submitted with the document.

Starting on January 1, 2015, this will no longer be acceptable; all affected recordable documents must disclose the transfer tax on the face of the document. Huge tax news, we know!

Read the entire bill here: http://bit.ly/1qsgblc

We’re in the midst of a severe drought and moving further into a dry summer.

One measure taken into effect on January of 2014 is the California standard retrofitting law to ensure water conservation through home appliances such as toilets, sink faucets, shutoff valves and shower heads.

 “The drought is having a huge impact across the state, and recent reports tell
us that all of us can conserve more,” said Mark Cowin, director of the
California Department of Water Resources. “It’s important to understand that
even things that seem relatively small will add up to have a big impact when it
comes to water conservation.”

These appliances not only save our environment, but they also help homeowners save a few dollars in their pocketbooks with lower water bills.

Check out this website for other ways that we can help conserve water:

http://saveourwater.com/

Hello,

Below is a list of merging and converting of banks as of April of this year:

Commercial Bank Activity
Merger

American Security Bank, Newport Beach, to merge with and into Citizens Business Bank, Ontario
Approved: 4/21/14

CapitalSource Bank, Los Angeles, to merge with and into Pacific Western Bank, Los Angeles
Effected: 4/7/14
4 Monthly Bulletin April 2014
Merger (Continued)

Community Bank of San Joaquin, Stockton, to merge with and into Bay Commercial Bank, Walnut
Creek
Approved: 4/22/14
Effected: 4/25/14

Mission Oaks National Bank, Temecula, to merge with and into AltaPacific Bank, Santa Rosa
Approved: 4/22/14

Conversion to State Charter

One PacificCoast Bank, FSB, to convert to a state-chartered bank under the name One PacificCoast
Bank
Filed: 4/15/14

Purchase of Partial Business Unit

Cathay Bank, Los Angeles, to acquire the San Francisco branch of Gateway Bank, Oakland
Filed: 4/2/14
Approved: 4/4/14

Credit Union Activity
Merger
Golden West Cities Federal Credit Union, Garden Grove, to merge with and into Credit Union
of Southern California, Brea
Approved: 4/1/14
Effected: 4/1/14

South Western Federal Credit Union, La Habra, to merge with and into Credit Union
of Southern California, Brea
Filed: 3/10/14

Change of Name
Southern California Postal Credit Union, to change its name to PostCity Financial Credit Union
Approved: 4/1/14 5 Monthly Bulletin April 2014
Premium Finance Company Activity
New Premium Finance Company

Delta Premium Financing, Inc.
660 Newport Center Drive, Newport Beach, Orange County
Opened: 4/15/14

Foreign (Other Nation) Bank Activity
New Office Application

Bank Hapoalim B.M.
City of Beverly Hills, Los Angeles County (Representative Office)
Filed: 4/25/14

Natixis
City and County of Los Angeles (Representative Office)
Approved: 4/14/14

Money Transmitter Activity

New Transmitter

Blackhawk Network California, Inc.
Filed: 10/17/13
Approved: 2/28/14
License Issued: 4/23/14

PayNearMe MT, Inc.
License issued: 4/714

ZenPay, Inc.
Filed: 4/2/14

From DBO bulletin.