Ca_Law

statute | California

Financial Code - FIN - FIN § 4995.1

  • UIDca_leginfo_codes:fin-4995-1
  • CitationFinancial Code - FIN - FIN § 4995.1
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

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

Text

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 first 12 months following loan consummation or 1 percent of the principal balance prepaid, for prepayment of the loan during the second 12 months following loan consummation.

Retrieval chunks

  • #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 first 12 months following loan consummation…