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July 2018 DBO Annual Reports: on CRMLA Mortgages; Payday Loans


The DBO Monthly Bulletin for July, 2018 reports on the DBA Annual Reports for Payday Lenders and for California Residential Mortgage Lending Act (CRMLA). The DBO summary of both annual reports and links to the full reports are below.

2017 Annual Reports for DBO Lending Programs Published

Annual reports for two major lending programs regulated by the DBO have been completed and posted to the department’s website.

The 2017 Consolidated Annual Report and Industry Survey for Payday Lenders (California Deferred Deposit Transaction Law) showed that payday lending continued a multi-year period of contraction while maintaining its heavy reliance on repeat customers.

The average number of transactions per customer in 2017 decreased slightly from 2016, to 6.36 from 6.4.  However, as in prior years, the number of customers who obtained 10 or more payday loans in 2017 exceeded the number who took out just one – 428,838 compared to 380,465.

The 2017 Annual Report for the California Residential Mortgage Lending Act (CRMLA) showed that non-bank mortgage lenders in California reported significantly less activity in 2017, with both the number of loans and combined principal amount declining by nearly 30 percent from 2016.  These lenders reported originating 431,052 loans in 2017, down 28.4 percent from 602,430 in 2016.  The combined principal amount of 2017 loans totaled $150.7 billion, a 27.3 percent decrease from $207.4 billion in 2016.

The report, based on unaudited data provided by licensed lenders and servicers, also found:

  • The aggregate average dollar amount of loans serviced each month by licensees increased 2.13 percent in 2017, to $854.8 billion from $852.9 billion in 2016.
  • The number of loans brokered in 2017 declined 24.3 percent from 2016, to 9,496 from 12,536.  The aggregate principal amount of brokered loans totaled $5 billion in 2017, down 14.3 percent from 2016.
  • Licensees reported completing 11,478 foreclosures in 2017, which was 27.7 percent less than the 2016 total of 15,883.