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Business and Professions Code - BPC - BPC § 10232.6
Business and Professions Code - BPC - BPC § 10232.6
(a) A real estate broker, acting within the course and scope of his or her license, who arranges for or engages the services of an appraiser licensed or certified by the Office of Real Estate Appraisers for the applicable transaction, and delivers the resulting appraisal to the p
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Business and Professions Code - BPC - BPC § 10233
Business and Professions Code - BPC - BPC § 10233
A real estate licensee who undertakes to service a promissory note secured directly or collaterally by a lien on real property or a real property sales contract shall comply with each of the following requirements: (a) The licensee shall have a written authorization from the borr
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Business and Professions Code - BPC - BPC § 10233.1
Business and Professions Code - BPC - BPC § 10233.1
If a real estate broker in servicing a real property sales contract or a promissory note secured directly or collaterally by a lien on real property for the mortgagee, beneficiary, or owner of the note or contract, causes funds other than funds received from the obligor of the no
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Business and Professions Code - BPC - BPC § 10233.2
Business and Professions Code - BPC - BPC § 10233.2
For the purposes of Division 3 (commencing with Section 3101) and Division 9 (commencing with Section 9101) of the Commercial Code, when a broker, acting within the meaning of subdivision (d) or (e) of Section 10131 or Section 10131.1, has arranged a loan or sold a promissory not
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Business and Professions Code - BPC - BPC § 10234
Business and Professions Code - BPC - BPC § 10234
(a) Except as provided in subdivision (d), every real estate licensee who negotiates a loan secured by a trust deed on real property shall cause the trust deed to be recorded, naming as beneficiary the lender or his or her nominee (who shall not be the licensee or the licensee’s
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Business and Professions Code - BPC - BPC § 10234.5
Business and Professions Code - BPC - BPC § 10234.5
In addition to the requirements of Section 10234, in the placing of any loan, a broker shall deliver or cause to be delivered conformed copies of any deed of trust to both the investor or lender and the borrower within a reasonable amount of time from the date of recording.
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Business and Professions Code - BPC - BPC § 10235
Business and Professions Code - BPC - BPC § 10235
No real estate licensee shall knowingly advertise, print, display, publish, distribute, telecast or broadcast, or cause or permit to be advertised, printed, displayed, published, distributed, televised or broadcast, in any manner any statement or representation with regard to the
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Business and Professions Code - BPC - BPC § 10235.5
Business and Professions Code - BPC - BPC § 10235.5
(a) A real estate licensee or mortgage loan originator shall not place an advertisement disseminated primarily in this state for a loan unless there is disclosed within the printed text of that advertisement, or the oral text in the case of a radio or television advertisement, th
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Business and Professions Code - BPC - BPC § 10236
Business and Professions Code - BPC - BPC § 10236
The commissioner in his or her discretion may honor requests from interested persons for interpretive opinions with respect to any provision of this article or with respect to any regulation for implementation of provisions of this article. No provision of this article imposing a
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Business and Professions Code - BPC - BPC § 10236.1
Business and Professions Code - BPC - BPC § 10236.1
No real estate licensee shall advertise to give or to offer to give to a prospective purchaser or lender any premium, gift or any other object of value as an inducement for making a loan, or purchasing a promissory note secured directly or collaterally by a lien on real property
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Business and Professions Code - BPC - BPC § 10236.2
Business and Professions Code - BPC - BPC § 10236.2
(a) A real estate broker who satisfies the criteria of subdivision (a) or (b) of Section 10232 and who fails to notify the Department of Real Estate, in writing, of that fact within 30 days thereafter as required by subdivision (e) of Section 10232 shall be assessed a penalty of
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Business and Professions Code - BPC - BPC § 10236.4
Business and Professions Code - BPC - BPC § 10236.4
(a) In compliance with Section 10235.5, every licensed real estate broker shall also display their license number on all advertisements where there is a solicitation for borrowers or potential investors. Every mortgage loan originator, as defined in Section 10166.01, shall also d
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Business and Professions Code - BPC - BPC § 10236.5
Business and Professions Code - BPC - BPC § 10236.5
A real estate broker shall notify the department when he or she is no longer servicing or arranging loans subject to the reporting requirements of Section 10232. If a broker has already made reports required by this article within the year, he or she shall continue reports for th
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Business and Professions Code - BPC - BPC § 10236.6
Business and Professions Code - BPC - BPC § 10236.6
(a) The commissioner, in his or her discretion, may audit any broker who conducts transactions subject to the provisions of this article. The audit shall be conducted after reasonable notice to the broker and shall include an examination of both of the following: (1) Trust accoun
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Business and Professions Code - BPC - BPC § 10236.7
Business and Professions Code - BPC - BPC § 10236.7
(a) A real estate broker, when engaging in acts for which a license is required, who arranges a transaction pursuant to Article 6 (commencing with Section 10237) or one or more provisions of the Corporate Securities Law of 1968 (Division 1 (commencing with Section 25000) of Title
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Business and Professions Code - BPC - BPC § 10237
Business and Professions Code - BPC - BPC § 10237
This article applies only to the exemption from securities qualification claimed under Section 25102.5 of the Corporations Code. This article does not apply to any other exemption from securities qualification, including subdivision (e) of Section 25102 of the Corporations Code,
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Business and Professions Code - BPC - BPC § 10238
Business and Professions Code - BPC - BPC § 10238
(a) A notice in the following form and containing the following information shall be filed with the commissioner within 30 days after the first transaction and within 30 days of any material change in the information required in the notice: TO: Real Estate Commissioner Mortgage L
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Business and Professions Code - BPC - BPC § 10239
Business and Professions Code - BPC - BPC § 10239
The jurisdiction of the Commissioner of Financial Protection and Innovation under the Corporate Securities Law of 1968 shall be neither limited nor expanded by this article. Nothing in this article shall be construed to supersede or restrict the application of the Corporate Secur
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Business and Professions Code - BPC - BPC § 10239.1
Business and Professions Code - BPC - BPC § 10239.1
Nothing in this article shall be construed to change the agency relationships between the parties where they exist or limit in any manner the fiduciary duty of brokers to borrowers, lenders, and purchasers of notes or interests in transactions subject to this article.
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Business and Professions Code - BPC - BPC § 10239.2
Business and Professions Code - BPC - BPC § 10239.2
For the purposes of this article, the following definitions shall apply: (a) “Broker” means a person licensed as a broker under this part. (b) “Affiliate” means a person controlled by, controlling, or under common control with, the broker. (c) “Servicing agent” means the real est
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Business and Professions Code - BPC - BPC § 10239.3
Business and Professions Code - BPC - BPC § 10239.3
(a) If any person other than a real estate broker makes or keeps any of the books, accounts, or other records maintained in connection with a transaction described in this article, the provisions of this article and of any regulation or order issued under this section shall apply
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Business and Professions Code - BPC - BPC § 10240
Business and Professions Code - BPC - BPC § 10240
(a) Every real estate broker, upon acting within the meaning of subdivision (d) of Section 10131, who negotiates a loan to be secured directly or collaterally by a lien on real property shall, within three business days after receipt of a completed written loan application or bef
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Business and Professions Code - BPC - BPC § 10240.1
Business and Professions Code - BPC - BPC § 10240.1
The provisions of this article, exclusive of the provisions of Section 10240, apply only to loans secured by a dwelling.
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Business and Professions Code - BPC - BPC § 10240.2
Business and Professions Code - BPC - BPC § 10240.2
As used in this article, “ dwelling” means any of the following units which are owned by a signatory to the mortgage or deed of trust secured by the dwelling unit at the time of execution of the mortgage or deed of trust: (a) A single dwelling unit in a condominium or cooperative
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Business and Professions Code - BPC - BPC § 10240.3
Business and Professions Code - BPC - BPC § 10240.3
(a) The commissioner shall apply the guidance on nontraditional mortgage product risks published on November 14, 2006, by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators, and the Statement on Subprime Mortgage Lending publi