June is National Homeownership Month, a time to celebrate the benefits that homeownership brings to families, neighborhoods, and communities across America.
Research shows that a household’s primary residence is its largest asset and continues to provide an important building block for long-term financial security. Recognition of homeownership began as a week-long celebration in 1995, and was later proclaimed to last the entire month of June in 2002 under former President George Bush.
If you are planning to buy a home or already own one, we want to let you know that the Department of Business Oversight (DBO) regulates:
- California licensed mortgage loan originators
- California residential mortgage lenders
- Escrow agents/Escrow law
- Property Assessed Clean Energy (PACE) Program Administrators
The DBO’s Consumer Services Office is available (Monday through Friday) to answer your questions and record issues and complaints about mortgage, escrow and PACE licensees. If the DBO isn’t the correct organization you need, we can help point you in the right direction. Call the DBO Consumer Services Office at: 1-866-275-2677, or email Ask.DBO@dbo.ca.gov.
Fraud Prevention Tip:
Working with unlicensed people puts you, your money, and home at risk of loss and in a worst-case scenario, fraud. Before you do any real estate, legal, financial business or construction work, confirm the license of the professionals: see the DBO’s Check Before You Sign checklist in their Path To Homeownership booklet. You can easily verify an entity’s state license with a phone call.
With a completed Check Before You Sign list, you will have all the information you need (eg. who to call and about the person or company you are having a problem with) handy.