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Financial Code - FIN - FIN § 22109.4
Financial Code - FIN - FIN § 22109.4
(a) A mortgage loan originator shall comply with the requirements of this section on or before December 31 of every year. (b) The minimum standards for license renewal for a mortgage loan originator shall include the following: (1) The mortgage loan originator continues to meet t
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Financial Code - FIN - FIN § 22109.5
Financial Code - FIN - FIN § 22109.5
(a) A licensed mortgage loan originator shall complete at least eight hours of continuing education approved in accordance with subdivision (b). The continuing education shall include at least the following: (1) Three hours of instruction on federal law and regulations. (2) Two h
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Financial Code - FIN - FIN § 22109.6
Financial Code - FIN - FIN § 22109.6
In addition to any other duties imposed upon the commissioner by law, the commissioner shall require mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. In order to carry out this requirement, the commissioner is
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Financial Code - FIN - FIN § 22110
Financial Code - FIN - FIN § 22110
The proceedings for a denial of a license shall be conducted in accordance with Chapter 5 (commencing with Section 11500) of Part 1 of Division 3 of Title 2 of the Government Code, and the commissioner has all the powers granted therein.
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Financial Code - FIN - FIN § 22111
Financial Code - FIN - FIN § 22111
All money paid or collected under this division shall be deposited in the State Treasury to the credit of the State Corporations Fund. The administration of this division shall be supported out of the State Corporations Fund.
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Financial Code - FIN - FIN § 22112
Financial Code - FIN - FIN § 22112
(a) A licensee shall maintain a surety bond in accordance with this subdivision in a minimum amount of twenty-five thousand dollars ($25,000). The bond shall be payable to the commissioner and issued by an insurer authorized to do business in this state. An original surety bond,
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Financial Code - FIN - FIN § 22150
Financial Code - FIN - FIN § 22150
The commissioner may make general rules and regulations and specific rulings, demands, and findings for the enforcement of this division, in addition to, and within the general purposes of, this division.
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Financial Code - FIN - FIN § 22151
Financial Code - FIN - FIN § 22151
(a) A finance lender license, broker license, program administrator license, and the license of every mortgage loan originator employed by a lender or finance broker, along with any currently effective order of the commissioner approving a different name pursuant to Section 22155
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Financial Code - FIN - FIN § 22152
Financial Code - FIN - FIN § 22152
(a) A finance lender, broker, or program administrator licensee shall maintain only one place of business under a duplicate or original license issued pursuant to Section 22101 or 22102. The commissioner may issue more than one license to the same licensee upon compliance with al
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Financial Code - FIN - FIN § 22153
Financial Code - FIN - FIN § 22153
(a) If a finance lender, broker, or program administrator licensee seeks to change its place of business to a street address other than that designated in its license, the licensee shall provide notice to the commissioner at least 10 days before the change. The commissioner shall
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Financial Code - FIN - FIN § 22154
Financial Code - FIN - FIN § 22154
(a) Subject to Section 22157.1, a licensee shall not conduct the business of making loans or administering a PACE program under this division within any office, room, or place of business in which any other business is solicited or engaged in, or in association or conjunction the
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Financial Code - FIN - FIN § 22155
Financial Code - FIN - FIN § 22155
Subject to Section 22157.1, a finance lender, broker, mortgage loan originator, or program administrator licensee shall not transact the business licensed or make any loan or administer any PACE program provided for by this division under any other name or at any other place of b
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Financial Code - FIN - FIN § 22156
Financial Code - FIN - FIN § 22156
(a) Finance lender, broker, program administrator, and mortgage loan originator licensees shall keep and use in their business, books, accounts, and records which will enable the commissioner to determine if the licensee is complying with the provisions of this division and with
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Financial Code - FIN - FIN § 22157
Financial Code - FIN - FIN § 22157
(a) Finance lender, broker, and mortgage loan originator licensees shall preserve their books, accounts, and records, if any, for at least three years after making the final entry on any loan recorded therein. (b) Except as otherwise specified by applicable law, including paragra
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Financial Code - FIN - FIN § 22157.1
Financial Code - FIN - FIN § 22157.1
(a) For purposes of this section: (1) “Encrypted” has the same meaning as provided in paragraph (4) of subdivision (i) of Section 1798.82 of the Civil Code. (2) “Remote location” means a personal residence or a temporary, nonpublic location not owned or leased by the licensee or
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Financial Code - FIN - FIN § 22158
Financial Code - FIN - FIN § 22158
Nothing contained in Sections 22156 and 22157 shall require the maintenance or preservation of original records, provided that any information requested by the commissioner can be furnished within 48 hours, excluding Saturdays, Sundays, and holidays as defined in Sections 6700 an
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Financial Code - FIN - FIN § 22159
Financial Code - FIN - FIN § 22159
(a) Each finance lender, broker, and program administrator licensee shall file an annual report with the commissioner, on or before March 15th, giving the relevant information that the commissioner reasonably requires concerning the business and operations conducted by the licens
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Financial Code - FIN - FIN § 22159.5
Financial Code - FIN - FIN § 22159.5
(a) The commissioner may, as the commissioner deems necessary, require licensees to provide reports concerning their residential mortgage loan servicing activities, including, but not limited to, information similar to that collected in connection with the Mortgage Servicers Surv
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Financial Code - FIN - FIN § 22160
Financial Code - FIN - FIN § 22160
The commissioner shall make and file annually with the Department of Financial Protection and Innovation as a public record a composite of the annual reports and any comments on the reports that the commissioner deems to be in the public interest.
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Financial Code - FIN - FIN § 22161
Financial Code - FIN - FIN § 22161
(a) A person subject to this division shall not do any of the following: (1) Make a materially false or misleading statement or representation to a borrower about the terms or conditions of that borrower’s loan, when making or brokering the loan. (2) Make a materially false or mi
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Financial Code - FIN - FIN § 22162
Financial Code - FIN - FIN § 22162
(a) A finance lender, broker, or mortgage loan originator licensee shall not place an advertisement disseminated primarily in this state for a loan unless the licensee discloses in the printed text of the advertisement, or in the oral text in the case of a radio or television adv
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Financial Code - FIN - FIN § 22163
Financial Code - FIN - FIN § 22163
(a) The commissioner may require that rates of charge, if stated by a licensee, be stated fully and clearly in the manner that the commissioner deems necessary to prevent misunderstanding by prospective borrowers or property owners. (b) This section shall become operative on Janu
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Financial Code - FIN - FIN § 22164
Financial Code - FIN - FIN § 22164
(a) If any person engaged in the business regulated by this division refers in any advertising to rates of interest, charges, or cost of loans or assessment contracts, the commissioner shall require that the rates, charges, or costs are stated fully and clearly in the manner that
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Financial Code - FIN - FIN § 22165
Financial Code - FIN - FIN § 22165
No advertising copy shall be used after its use has been disapproved by the commissioner and the licensee is notified in writing of the disapproval. The commissioner may by order direct any licensee to submit advertising copy to the commissioner for review prior to use.
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Financial Code - FIN - FIN § 22166
Financial Code - FIN - FIN § 22166
The commissioner may require licensees to maintain a file of all advertising copy for a period of two years from the date of its use. The file shall be available to the commissioner upon request.