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Financial Code - FIN - FIN § 4979.5
Financial Code - FIN - FIN § 4979.5
(a) A person who provides brokerage services to a borrower in a covered loan transaction by soliciting lenders or otherwise negotiating a consumer loan secured by real property, is the fiduciary of the consumer, and any violation of the person’s fiduciary duties shall be a violat
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Financial Code - FIN - FIN § 4979.6
Financial Code - FIN - FIN § 4979.6
A person who originates a covered loan shall not make a covered loan that finances points and fees in excess of one thousand dollars ($1,000) or 6 percent of the original principal balance, exclusive of points and fees, whichever is greater.
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Financial Code - FIN - FIN § 4979.7
Financial Code - FIN - FIN § 4979.7
On or after July 1, 2002, a person who originates a consumer loan shall not finance, directly or indirectly, into a consumer loan or finance to the same borrower within 30 days of a consumer loan any credit life, credit disability, credit property, or credit unemployment insuranc
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Financial Code - FIN - FIN § 4979.8
Financial Code - FIN - FIN § 4979.8
The provisions of this division shall not impose liability on an assignee that is a holder in due course. The provisions of this division shall not apply to persons chartered by Congress to engage in secondary mortgage market transactions.
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Financial Code - FIN - FIN § 4981
Financial Code - FIN - FIN § 4981
Any financial institution doing business in this state, or any other person, that sells to the public at any retail branch office at which deposits are accepted, any security which is not a deposit, and which is not insured by an agency or instrumentality of the United States, or
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Financial Code - FIN - FIN § 4982
Financial Code - FIN - FIN § 4982
Any violation of this division by a bank is a violation of Division 1.1 (commencing with Section 1000); a violation by a savings association is a violation of Division 2 (commencing with Section 5000); a violation by a credit union is a violation of Division 5 (commencing with Se
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Financial Code - FIN - FIN § 4983
Financial Code - FIN - FIN § 4983
Nothing in this division shall be construed or interpreted to mean that this division in any way gives a financial institution the authority to offer or sell any type of security that it could not otherwise offer or sell under state or federal law.
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Financial Code - FIN - FIN § 4990
Financial Code - FIN - FIN § 4990
(a) Any person convicted of a felony violation of any of the provisions specified in subdivision (b) shall not serve in any capacity as a director or officer or in any other position involving any management duties with a financial institution in this state with accounts insured
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Financial Code - FIN - FIN § 4991
Financial Code - FIN - FIN § 4991
(a) In response to a request by another bank, savings association, credit union, or any other financial institution it is not unlawful for a bank, savings association, credit union, or any other financial institution to provide a written employment reference which advises of the
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Financial Code - FIN - FIN § 4995
Financial Code - FIN - FIN § 4995
The following definitions shall apply for purposes of this division: (a) “Higher-priced mortgage loan” has the meaning set forth in Section 1026.35 of Title 12 of the Code of Federal Regulations. (b) “Licensed person” means a real estate broker licensed under the Real Estate Law
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Financial Code - FIN - FIN § 4995.1
Financial Code - FIN - FIN § 4995.1
Notwithstanding any other provision of law, the maximum amount of a prepayment penalty that may be imposed by a licensed person in connection with a higher-priced mortgage loan shall not exceed 2 percent of the principal balance prepaid, for prepayment of the loan during the firs
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Financial Code - FIN - FIN § 4995.2
Financial Code - FIN - FIN § 4995.2
(a) This division shall apply to any licensed person who in bad faith attempts to avoid the application of this division by doing either of the following: (1) Dividing any loan transaction into separate parts for the purpose and with the intent of evading the provisions of this d
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Financial Code - FIN - FIN § 4995.3
Financial Code - FIN - FIN § 4995.3
(a) Any licensed person who violates any provision of this division shall be deemed to have violated that person’s licensing law. (b) The licensing agency may, by order and after appropriate administrative hearing, prohibit licensees under this division from engaging in acts or p
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Financial Code - FIN - FIN § 4995.4
Financial Code - FIN - FIN § 4995.4
The provisions of this division shall apply to higher-priced mortgage loans originated on or after July 1, 2010.
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Financial Code - FIN - FIN § 4995.5
Financial Code - FIN - FIN § 4995.5
The provisions of this division are severable. If any provision of this division or its application is held invalid, that invalidity shall not affect other provisions or applications that can be given effect without the invalid provision or application.
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Financial Code - FIN - FIN § 4995.6
Financial Code - FIN - FIN § 4995.6
Nothing in this division shall be construed to affect any other rights or remedies otherwise available under the law.
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Financial Code - FIN - FIN § 5
Financial Code - FIN - FIN § 5
Division, part, chapter, article, and section headings do not in any manner affect the scope, meaning, or intent of the provisions of this code.
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Financial Code - FIN - FIN § 500
Financial Code - FIN - FIN § 500
(a) (1) For purposes of this section, “foreign bank” means the business in this state of every foreign (other nation) bank licensed under Article 3 (commencing with Section 1800) of Chapter 20 of Division 1.1. (2) For purposes of this subdivision, an examination made by the commi
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Financial Code - FIN - FIN § 5000
Financial Code - FIN - FIN § 5000
This division may be cited as the “Savings Association Law.”
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Financial Code - FIN - FIN § 50000
Financial Code - FIN - FIN § 50000
This division will be known and may be cited as the California Residential Mortgage Lending Act.
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Financial Code - FIN - FIN § 50001
Financial Code - FIN - FIN § 50001
Unless the context otherwise requires, the definitions in this chapter apply throughout this division.
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Financial Code - FIN - FIN § 50002
Financial Code - FIN - FIN § 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 from the commissioner in accordance with the requirements of Chapter 2 (commencing with Section 50120) or Chap
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Financial Code - FIN - FIN § 50002.5
Financial Code - FIN - FIN § 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 compensated by that licensee obtains and maintains a mortgage loan originator license from the commis
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Financial Code - FIN - FIN § 50003
Financial Code - FIN - FIN § 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 with generally accepted accounting principles and generally accepted auditing standards. (b) “Borrowe
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Financial Code - FIN - FIN § 50003.5
Financial Code - FIN - FIN § 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 or offers or negotiates terms of a residential mortgage loan. (b) Mortgage loan originator does not inclu