California Financial Code CHAPTER 1 - General

• Section 50000.
  This division will be known and may be cited as the California Residential Mortgage Lending Act.(Added by Stats. 1994, Ch. 994, Sec. 7. Effective January...
• Section 50001.
  Unless the context otherwise requires, the definitions in this chapter apply throughout this division.(Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995....
• Section 50002.
  (a) No person shall engage in the business of making residential mortgage loans or servicing residential mortgage loans, in this state, without first obtaining a license...
• Section 50002.5.
  (a) Every licensee engaging in the business of making, servicing, or making and servicing residential mortgage loans shall require that every mortgage loan originator employed or...
• Section 50003.
  (a) “Annual audit” means a certified audit of the licensee’s books, records, and systems of internal control performed by an independent certified public accountant in accordance...
• Section 50003.5.
  (a) “Mortgage loan originator” means an individual who, for compensation or gain, or in the expectation of compensation or gain, takes a residential mortgage loan application...
• Section 50003.6.
  (a) A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information, including the use...
• Section 50004.
  “Fraud,” “deceit,” and “defraud” are not limited to common law fraud or deceit.(Added by Stats. 1994, Ch. 994, Sec. 7. Effective January 1, 1995. Section...
• Section 50005.
  This division creates and authorizes a class of exempt persons pursuant to Section 1 of Article XV of the California Constitution.(Amended by Stats. 1995, Ch....
• Section 50006.
  No person subject to this law shall use in its name “bank,” “trust,” “trustee,” “loan association,” or related terms. This section does not apply to...

Last modified: October 22, 2018