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Business and Professions Code - BPC - BPC § 10241
Business and Professions Code - BPC - BPC § 10241
The statement required by Section 10240, the form of which shall be approved by the commissioner, shall set forth separately the following items: (a) The estimated maximum costs and expenses of making the loan, which are to be paid by the borrower, including but not limited to, t
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Business and Professions Code - BPC - BPC § 10241.1
Business and Professions Code - BPC - BPC § 10241.1
(a) The purchase of credit life insurance on the life of the borrower or credit disability insurance to provide indemnity for payments becoming due on the indebtedness shall not be required as a condition of making a loan under this article. (b) The licensee may provide through d
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Business and Professions Code - BPC - BPC § 10241.2
Business and Professions Code - BPC - BPC § 10241.2
If the broker elects to make a loan subject to Section 10240 which consists wholly or in part of broker-controlled funds as defined in subdivision (j) of Section 10241, the broker shall advise the borrower of that fact not later than the next business day after making the electio
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Business and Professions Code - BPC - BPC § 10241.3
Business and Professions Code - BPC - BPC § 10241.3
In any loan transaction in which a fee is charged to a borrower for an appraisal of the real property that will serve as security for the loan, a copy of the appraisal report shall be given by or on behalf of the broker to both the borrower and the lender at or before the closing
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Business and Professions Code - BPC - BPC § 10241.4
Business and Professions Code - BPC - BPC § 10241.4
(a) Prior to a borrower becoming obligated on any loan secured by a dwelling that provides for a balloon payment and is otherwise subject to Section 10240, if any agreement includes a promise, representation, or similar undertaking to extend or seek the extension of the term of t
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Business and Professions Code - BPC - BPC § 10242
Business and Professions Code - BPC - BPC § 10242
The maximum amount of expenses, charges and interest to be paid by a borrower with respect to any loan subject to this article shall be as follows: (a) The maximum amount of all costs and expenses referred to in subdivision (a) of Section 10241, exclusive of actual title charges
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Business and Professions Code - BPC - BPC § 10242.5
Business and Professions Code - BPC - BPC § 10242.5
(a) A charge imposed for late payment of an installment due on a loan secured by a mortgage or deed of trust on real property shall not exceed an amount equal to 10 percent of the installment due, except that a minimum charge of five dollars ($5) may be imposed when the late char
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Business and Professions Code - BPC - BPC § 10242.6
Business and Professions Code - BPC - BPC § 10242.6
(a) The principal and accrued interest on any loan secured by a mortgage or deed of trust on real property containing only a single-family, owner-occupied dwelling may be prepaid in whole or in part at any time but only a prepayment made within seven years of the date of executio
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Business and Professions Code - BPC - BPC § 10243
Business and Professions Code - BPC - BPC § 10243
If the loan is not consummated due to the failure of the borrower to disclose the outstanding liens of record or the correct current vested title which is material to the loan upon the real property as provided by subdivision (c) of Section 10241, the borrower shall be liable for
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Business and Professions Code - BPC - BPC § 10244
Business and Professions Code - BPC - BPC § 10244
Any loan made by any person and secured directly by a lien on real property, other than a note given back to the seller by the purchaser on account of the purchase price, which provides for installment payments and the term of which is less than three years, shall require substan
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Business and Professions Code - BPC - BPC § 10244.1
Business and Professions Code - BPC - BPC § 10244.1
Notwithstanding the provisions of Section 10244, on a loan secured directly or collaterally by a lien on real property comprising an owner-occupied dwelling, for a term of six years or less, no installment, whether providing for payment of principal and interest or interest only,
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Business and Professions Code - BPC - BPC § 10245
Business and Professions Code - BPC - BPC § 10245
The provisions of this article, exclusive of the provisions of Sections 10240, 10240.3, 10242.5, and 10242.6, do not apply to any bona fide loan secured directly or collaterally by a first trust deed, the principal of which is thirty thousand dollars ($30,000) or more, or to any
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Business and Professions Code - BPC - BPC § 10246
Business and Professions Code - BPC - BPC § 10246
If any amount: (a) In excess of the charges referred to in Section 10241 and limited by Section 10242, (b) In excess of the charges permitted by Section 10242.5, or (c) Prohibited by Section 10248.1, is received, the borrower may recover, from the person who shall have taken or r
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Business and Professions Code - BPC - BPC § 10247
Business and Professions Code - BPC - BPC § 10247
The provisions of this article pertaining to maximum costs and expenses, charges and interest, together with the penalties stated in this article, shall apply to any transaction involving a third party as a purported lender or any other transaction which is used as a subterfuge o
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Business and Professions Code - BPC - BPC § 10248
Business and Professions Code - BPC - BPC § 10248
Every person who, for compensation to be received directly or indirectly, sells, offers to sell, purchases for resale or offers to purchase for resale, or who negotiates or arranges for the purchase, sale or exchange of a promissory note secured directly or collaterally by a lien
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Business and Professions Code - BPC - BPC § 10248.1
Business and Professions Code - BPC - BPC § 10248.1
No real estate licensee shall charge, receive, or negotiate for the payment by the borrower of any service charge or fee other than charges and fees specified in Sections 10241, 10241.1, 10242, and 10242.5, prepayment penalties as authorized by law, beneficiary-statement, payoff-
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Business and Professions Code - BPC - BPC § 10248.2
Business and Professions Code - BPC - BPC § 10248.2
(a) A borrower may not waive any right or remedy under this article. This subdivision shall not be deemed to prohibit a bona fide settlement, release or compromise of any claim under this article. (b) If a loan is negotiated in violation of any section of this article, the licens
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Business and Professions Code - BPC - BPC § 10248.3
Business and Professions Code - BPC - BPC § 10248.3
The provisions of this article shall apply only to those loans otherwise subject to this article which are made or negotiated by real estate brokers acting within the meaning of subdivision (d) of Section 10131 or subdivision (b) of Section 10240.
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Business and Professions Code - BPC - BPC § 10249
Business and Professions Code - BPC - BPC § 10249
(a) A person acting as a principal or agent who intends, in this state, to sell or lease or offer for sale or lease lots, parcels, or interests in a subdivision, as defined in Section 10249.1, situated outside of this state but within the United States, shall, prior to a sale, le
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Business and Professions Code - BPC - BPC § 10249.1
Business and Professions Code - BPC - BPC § 10249.1
“Subdivision,” as used in Section 10249, includes all of the following: (a) Improved or unimproved land or lands divided or proposed to be divided for the purpose of sale or lease, whether immediate or future, into five or more lots or parcels. (b) Improved or unimproved land or
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Business and Professions Code - BPC - BPC § 10249.3
Business and Professions Code - BPC - BPC § 10249.3
(a) The commissioner may by regulation prescribe filing fees in connection with registrations with the department pursuant to the provisions of this article that are lower than the maximum fees specified in subdivision (b) if the commissioner determines that the lower fees are su
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Business and Professions Code - BPC - BPC § 10249.8
Business and Professions Code - BPC - BPC § 10249.8
(a) Notwithstanding any provision to the contrary in Section 10249 or 11000, it is unlawful for a person, in this state, to sell or lease or offer for sale or lease lots, parcels, or interests in a subdivision, as defined in Section 10249.1, entirely located outside of this state
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Business and Professions Code - BPC - BPC § 10249.9
Business and Professions Code - BPC - BPC § 10249.9
(a) Notwithstanding any provision to the contrary in Section 10249 or 11000, it is unlawful for a person, in this state, to sell or lease or offer for sale or lease a lot, parcel, or interest in a subdivision, located outside the United States, unless the printed material, litera
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Business and Professions Code - BPC - BPC § 10249.91
Business and Professions Code - BPC - BPC § 10249.91
The term of a registration issued pursuant to this article shall be one year, unless the commissioner by regulation prescribes a longer term.
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Business and Professions Code - BPC - BPC § 10249.92
Business and Professions Code - BPC - BPC § 10249.92
A registration application pursuant to the provisions of this article shall be accompanied by an irrevocable consent stating that if in any action commenced against the applicant in this state personal service of process upon the applicant cannot be made after the exercise of due