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Financial Code - FIN - FIN § 22330
Financial Code - FIN - FIN § 22330
No licensee shall take a deed of trust, mortgage, or lien upon real property as security for any loan made under this division, except any lien as is created by law upon the recording of an abstract of judgment. This section shall not apply to any loan of a bona fide principal am
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Financial Code - FIN - FIN § 22331
Financial Code - FIN - FIN § 22331
No licensee shall take any confession of judgment or any power of attorney, except a power of attorney taken to effectuate the transfer of the ownership of any motor vehicle or mobilehome at the time of making the loan.
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Financial Code - FIN - FIN § 22332
Financial Code - FIN - FIN § 22332
No licensee shall take any note or promise to pay that does not accurately disclose the actual amount of the loan, the time for which it is made, and the agreed rate of charge or the annual percentage rate pursuant to Regulation Z promulgated by the Consumer Financial Protection
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Financial Code - FIN - FIN § 22333
Financial Code - FIN - FIN § 22333
No licensee shall take any instrument in which blanks are left to be filled in after execution.
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Financial Code - FIN - FIN § 22334
Financial Code - FIN - FIN § 22334
(a) Except as provided in subdivision (b), a licensee shall not enter into any contract for a loan that provides for a scheduled repayment of principal over more than the maximum terms set forth below opposite the respective size of loans. Principal amount of loan Maximum term Le
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Financial Code - FIN - FIN § 22335
Financial Code - FIN - FIN § 22335
The payment by any person in money, credit, goods, or things in action as consideration for any sale or assignment of, or order for, the payment of wages, salary, commissions, or other compensation for services, whether earned or to be earned, is, for the purposes of regulation u
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Financial Code - FIN - FIN § 22336
Financial Code - FIN - FIN § 22336
This article does not prohibit any licensee from contracting for, collecting, or receiving the following: (a) The statutory fee paid by the licensee to any public officer for acknowledging, filing, recording, or releasing in any public office any instrument securing the loan or e
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Financial Code - FIN - FIN § 22337
Financial Code - FIN - FIN § 22337
Each licensed finance lender shall: (a) Deliver or cause to be delivered to the borrower, or any one thereof, at the time the loan is made, a statement showing in clear and distinct terms the name, address, and license number of the finance lender and the broker, if any. The stat
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Financial Code - FIN - FIN § 22338
Financial Code - FIN - FIN § 22338
Each licensed broker shall: (a) Deliver to the borrower, or any one thereof, at the time the final negotiation or arrangement is made, a statement showing in clear and distinct terms the name, address, and license number of the broker and the finance lender. The statement shall s
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Financial Code - FIN - FIN § 22339
Financial Code - FIN - FIN § 22339
Nothing contained in this article shall be construed to deny to any licensee hereunder the right of taking and using a security agreement that, in addition to securing an original obligation, may secure the repayment of sums that may be advanced to, or expenditures that may be ma
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Financial Code - FIN - FIN § 22340
Financial Code - FIN - FIN § 22340
(a) A licensee may sell promissory notes evidencing the obligation to repay loans made by the licensee pursuant to this division or evidencing the obligation to repay loans purchased from and made by another licensee pursuant to this division to institutional investors, and may m
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Financial Code - FIN - FIN § 22340.1
Financial Code - FIN - FIN § 22340.1
(a) A licensee that is a finance lender may sell to (1) an institutional lender, or (2) an institutional investor described in paragraph (6) of subdivision (b) of Section 22340, promissory notes evidencing the obligation to repay federally related mortgage loans, as defined in Se
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Financial Code - FIN - FIN § 22341
Financial Code - FIN - FIN § 22341
(a) No licensee may make a loan to refinance a retail installment contract subject to Chapter 1 (commencing with Section 1801) of Title 2 of Part 4 of Division 3 of the Civil Code, that is held by the licensee, its subsidiaries, or affiliates, unless all of the following conditio
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Financial Code - FIN - FIN § 22342
Financial Code - FIN - FIN § 22342
(a) As used in this section, “instant loan check” or “live check” means any loan or extension of credit that is made available in the form of a check, draft, or any other negotiable instrument that can be deposited in a bank or used for third-party payments. “Instant loan check”
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Financial Code - FIN - FIN § 22345
Financial Code - FIN - FIN § 22345
(a) Any person who violates any provision of Section 987 of Title 10 of the United States Code, as amended by 126 Stat. 1785 (Public Law 112-239), or any provision of Part 232 (commencing with Section 232.1) of Subchapter M of Chapter I of Subtitle A of Title 32 of the Code of Fe
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Financial Code - FIN - FIN § 22346
Financial Code - FIN - FIN § 22346
Any licensee that violates any provision of any of the following federal acts or regulations violates this division: (a) The federal Real Estate Settlement Procedures Act, as amended (12 U.S.C. Sec. 2601 et seq.). (b) The federal Truth in Lending Act, as amended (15 U.S.C. Sec. 1
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Financial Code - FIN - FIN § 22347
Financial Code - FIN - FIN § 22347
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 cards or Internet Web sites, and any other documents as established by rule, regulation,
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Financial Code - FIN - FIN § 22365
Financial Code - FIN - FIN § 22365
(a) The Pilot Program for Increased Access to Responsible Small Dollar Loans is hereby established. (b) For purposes of this article: (1) “Commissioner” means the Commissioner of Financial Protection and Innovation. (2) “Program” means the Pilot Program for Increased Access to Re
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Financial Code - FIN - FIN § 22366
Financial Code - FIN - FIN § 22366
(a) Any entity licensed under this chapter that wishes to participate in the program, that is in good standing with the commissioner and has no outstanding enforcement actions or deficiencies at the time of its application, shall file an application with the commissioner, in a ma
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Financial Code - FIN - FIN § 22367
Financial Code - FIN - FIN § 22367
Every entity approved by the commissioner to participate in the program shall file with the commissioner on or before March 15 an annual report consistent with Section 22159, separate from any other annual report the licensee may be required to file.
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Financial Code - FIN - FIN § 22368
Financial Code - FIN - FIN § 22368
Except as otherwise provided, nothing in this article shall exempt any licensee from any of the provisions of this division or Section 1632 of the Civil Code.
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Financial Code - FIN - FIN § 22369
Financial Code - FIN - FIN § 22369
No licensee may offer or make a loan, nor impose any charges or fees pursuant to Section 22370, nor use a finder pursuant to Section 22371, without prior approval from the commissioner to participate in the program.
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Financial Code - FIN - FIN § 22370
Financial Code - FIN - FIN § 22370
(a) A loan made pursuant to this section shall comply with the following requirements: (1) The loan shall be unsecured. (2) Interest on the loan shall accrue on a simple-interest basis, through the application of a daily periodic rate to the actual unpaid principal balance each d
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Financial Code - FIN - FIN § 22371
Financial Code - FIN - FIN § 22371
(a) A licensee who is approved by the commissioner to participate in the program may use the services of one or more finders as provided in this article. In addition to the fees and costs authorized by subdivision (b) of Section 22375 and subdivision (a) of Section 22377, the com
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Financial Code - FIN - FIN § 22372
Financial Code - FIN - FIN § 22372
(a) A finder may perform one or more of the following services for a licensee at the finder’s physical location for business: (1) Distributing, circulating, using, or publishing preprinted brochures, flyers, factsheets, or other written materials relating to loans that the licens