California Business and Professions Code ARTICLE 7 - Real Property Loans

• Section 10240.
  (a) Every real estate broker, upon acting within the meaning of subdivision (d) of Section 10131, who negotiates a loan to be secured directly or collaterally...
• Section 10240.1.
  The provisions of this article, exclusive of the provisions of Section 10240, apply only to loans secured by a dwelling.(Added by Stats. 1985, Ch. 1355,...
• Section 10240.2.
  As used in this article, “ dwelling” means any of the following units which are owned by a signatory to the mortgage or deed of...
• Section 10240.3.
  (a) The commissioner shall apply the guidance on nontraditional mortgage product risks published on November 14, 2006, by the Conference of State Bank Supervisors and the...
• Section 10241.
  The statement required by Section 10240, the form of which shall be approved by the commissioner, shall set forth separately the following items:(a) The estimated maximum...
• Section 10241.1.
  (a) The purchase of credit life insurance on the life of the borrower or credit disability insurance to provide indemnity for payments becoming due on the...
• Section 10241.2.
  If the broker elects to make a loan subject to Section 10240 which consists wholly or in part of broker-controlled funds as defined in subdivision...
• Section 10241.3.
  In any loan transaction in which a fee is charged to a borrower for an appraisal of the real property that will serve as security...
• Section 10241.4.
  (a) Prior to a borrower becoming obligated on any loan secured by a dwelling that provides for a balloon payment and is otherwise subject to Section...
• Section 10242.
  The maximum amount of expenses, charges and interest to be paid by a borrower with respect to any loan subject to this article shall be...
• Section 10242.5.
  (a) A charge imposed for late payment of an installment due on a loan secured by a mortgage or deed of trust on real property shall...
• Section 10242.6.
  (a) The principal and accrued interest on any loan secured by a mortgage or deed of trust on real property containing only a single-family, owner-occupied dwelling...
• Section 10243.
  If the loan is not consummated due to the failure of the borrower to disclose the outstanding liens of record or the correct current vested...
• Section 10244.
  Any loan made by any person and secured directly by a lien on real property, other than a note given back to the seller by...
• Section 10244.1.
  Notwithstanding the provisions of Section 10244, on a loan secured directly or collaterally by a lien on real property comprising an owner-occupied dwelling, for a...
• Section 10245.
  The provisions of this article, exclusive of the provisions of Sections 10240, 10240.3, 10242.5, and 10242.6, do not apply to any bona fide loan secured...
• Section 10246.
  If any amount:(a) In excess of the charges referred to in Section 10241 and limited by Section 10242,(b) In excess of the charges permitted by Section 10242.5,...
• Section 10247.
  The provisions of this article pertaining to maximum costs and expenses, charges and interest, together with the penalties stated in this article, shall apply to...
• Section 10248.
  Every person who, for compensation to be received directly or indirectly, sells, offers to sell, purchases for resale or offers to purchase for resale, or...
• Section 10248.1.
  No real estate licensee shall charge, receive, or negotiate for the payment by the borrower of any service charge or fee other than charges and...
• Section 10248.2.
  (a) A borrower may not waive any right or remedy under this article. This subdivision shall not be deemed to prohibit a bona fide settlement, release...
• Section 10248.3.
  The provisions of this article shall apply only to those loans otherwise subject to this article which are made or negotiated by real estate brokers...

Last modified: October 22, 2018