California Financial Code CHAPTER 4 - Financial Condition, Transaction and Bond Requirements

  • Section 50200.
    (a) At the end of the licensee’s fiscal year, but in no case more than 12 months after the last audit conducted pursuant to this section,...
  • Section 50201.
    (a) A licensee issued a license for purposes of making or servicing residential mortgage loans, including a licensee employing one or more mortgage loan originators, shall...
  • Section 50202.
    (a) Escrow funds for a purpose authorized by the residential mortgage loan contract (1) shall be subject to and satisfy all applicable state and federal requirements,...
  • Section 50203.
    (a) A licensee may not require a borrower to pay fees or charges prior to the residential mortgage loan closing, except for:(1) Actual charges to be incurred...
  • Section 50204.
    A licensee may not do any of the following:(a) Disburse the mortgage loan proceeds in a form other than direct deposit to the borrower’s or borrower’s...
  • Section 50205.
    (a) A residential mortgage lender or servicer licensee shall maintain a surety bond in accordance with this subdivision. The bond shall be used for the recovery...
  • Section 50206.
    (a) Prior to a change of control of the business of a licensee, the person wishing to acquire control shall submit an application to the commissioner...
  • Section 50207.
    (a) A license, along with any currently effective order of the commissioner approving use of a different name pursuant to Sections 50120 and 50130, shall be...
  • Section 50208.
    The license shall state the name of the licensee. If the licensee is a partnership, the license shall state the names of its general partners....
  • Section 50209.
    The unique identifier of any licensed mortgage loan originator shall be clearly shown on all residential mortgage loan application forms, solicitations, or advertisements, including business...

Last modified: October 22, 2018