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Financial Code - FIN - FIN § 50003.6
Financial Code - FIN - FIN § 50003.6
(a) A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information, including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items, that the individual c
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Financial Code - FIN - FIN § 50004
Financial Code - FIN - FIN § 50004
“Fraud,” “deceit,” and “defraud” are not limited to common law fraud or deceit.
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Financial Code - FIN - FIN § 50005
Financial Code - FIN - FIN § 50005
This division creates and authorizes a class of exempt persons pursuant to Section 1 of Article XV of the California Constitution.
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Financial Code - FIN - FIN § 50006
Financial Code - FIN - FIN § 50006
No person subject to this law shall use in its name “bank,” “trust,” “trustee,” “loan association,” or related terms. This section does not apply to any person licensed under the Banking Law or the Savings Association Law.
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Financial Code - FIN - FIN § 501
Financial Code - FIN - FIN § 501
(a) Whenever, in the judgment of the commissioner, it is necessary or advisable to make an extra examination of or to devote any extraordinary attention to any bank, any foreign bank, or any office of a foreign bank, the commissioner has the authority to do so and to charge and c
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Financial Code - FIN - FIN § 50120
Financial Code - FIN - FIN § 50120
(a) A residential mortgage lender shall file an application for licensure under this chapter with the commissioner to make or service residential mortgage loans in this state. (b) A licensee may not engage in the business as a residential mortgage lender under a name other than t
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Financial Code - FIN - FIN § 50121
Financial Code - FIN - FIN § 50121
The commissioner shall issue a residential mortgage lender license upon the satisfaction of all of the following: (a) The filing with the commissioner of a complete and executed application for licensure, which may, at the discretion of the commissioner, include background and ex
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Financial Code - FIN - FIN § 50122
Financial Code - FIN - FIN § 50122
(a) Except as provided in Section 50120, the information provided on an application for a residential mortgage lender, residential mortgage servicer, or residential mortgage lender and servicer license shall be sworn testimony on a form prescribed by the commissioner. If an appli
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Financial Code - FIN - FIN § 50123
Financial Code - FIN - FIN § 50123
(a) A residential mortgage lender license shall remain in effect until suspended, surrendered, or revoked. (b) A residential mortgage lender licensee that ceases to engage in the business regulated by this division and desires to no longer be licensed shall inform the commissione
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Financial Code - FIN - FIN § 50124
Financial Code - FIN - FIN § 50124
(a) A residential mortgage lender or servicer shall do all of the following: (1) Maintain staff adequate to meet the requirements of this division, as prescribed by rule or order of the commissioner. (2) Keep and maintain for 36 months from the date of final entry the business re
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Financial Code - FIN - FIN § 50125
Financial Code - FIN - FIN § 50125
The commissioner may refuse to issue a residential mortgage lender or servicer license if any of the following apply: (a) The applicant is not in material compliance with a provision of this division or an order or rule of the commissioner. (b) The commissioner cannot make the fi
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Financial Code - FIN - FIN § 50126
Financial Code - FIN - FIN § 50126
(a) Upon reasonable notice and opportunity to be heard, the commissioner may deny an application for any of the following reasons: (1) A false statement of a material fact has been made in the application. (2) Any officer, director, general partner, or person owning or controllin
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Financial Code - FIN - FIN § 50127
Financial Code - FIN - FIN § 50127
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 § 50128
Financial Code - FIN - FIN § 50128
As used in this act, the term “principal officer” means an officer with direct responsibility for the conduct of the residential mortgage lender or servicer licensee’s or license applicant’s lending or servicing activities in this state.
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Financial Code - FIN - FIN § 50129
Financial Code - FIN - FIN § 50129
(a) A residential mortgage lender or servicer licensed under this chapter may, under the authority of that license and subject to the provisions of this division, do both of the following: (1) Engage as a principal in the business of buying from or selling to institutional invest
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Financial Code - FIN - FIN § 50130
Financial Code - FIN - FIN § 50130
(a) A mortgage servicer shall file an application for licensure under this chapter with the commissioner to service mortgage loans in this state by satisfying the requirements of this chapter and the applicable provisions, as determined by the commissioner, of Chapter 2 (commenci
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Financial Code - FIN - FIN § 50140
Financial Code - FIN - FIN § 50140
(a) An applicant for a license as a mortgage loan originator shall apply by submitting the uniform form prescribed for that purpose by the Nationwide Mortgage Licensing System and Registry. The commissioner may require the submission of additional information or supporting docume
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Financial Code - FIN - FIN § 50141
Financial Code - FIN - FIN § 50141
(a) The commissioner shall deny an application for a mortgage loan originator license unless the commissioner makes at a minimum the following findings: (1) The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subs
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Financial Code - FIN - FIN § 50142
Financial Code - FIN - FIN § 50142
(a) An applicant for a mortgage loan originator license shall complete at least 20 hours of education approved in accordance with subdivision (b). The education shall include at least the following: (1) Three hours of instruction on federal law and regulations. (2) Three hours of
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Financial Code - FIN - FIN § 50143
Financial Code - FIN - FIN § 50143
(a) An applicant for a mortgage loan originator license shall pass a qualified written test developed or otherwise deemed acceptable by the Nationwide Mortgage Licensing System and Registry and administered by a test provider approved by the Nationwide Mortgage Licensing System a
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Financial Code - FIN - FIN § 50144
Financial Code - FIN - FIN § 50144
(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 mortgage loan originators shall include the following: (1) The mortgage loan originator continues to meet th
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Financial Code - FIN - FIN § 50145
Financial Code - FIN - FIN § 50145
(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 § 50146
Financial Code - FIN - FIN § 50146
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 a
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Financial Code - FIN - FIN § 50150
Financial Code - FIN - FIN § 50150
(a) The commissioner is authorized to establish relationships or contracts with the Nationwide Mortgage Licensing System and Registry or other entities designated by the Nationwide Mortgage Licensing System and Registry to collect and maintain records and process transaction fees
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Financial Code - FIN - FIN § 50151
Financial Code - FIN - FIN § 50151
(a) Except as otherwise provided in Section 1512 of the SAFE Act, the requirements under any federal law or the Information Practices Act (Chapter 1 (commencing with Section 1798) of Part 4 of Division 3 of the Civil Code) regarding the privacy or confidentiality of any informati