Ca_Law

statute | California

Financial Code - FIN - FIN § 7505.5

  • UIDca_leginfo_codes:fin-7505-5
  • CitationFinancial Code - FIN - FIN § 7505.5
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

(a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrower’s general credit standing and projected

Text

(a)
A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrower’s general credit standing and projected future income for repayment, without other security, or relies on other assurances for repayment, including guarantees or other obligations of third parties.
(b)
An association’s aggregate investment in residential real estate loans described in subdivision (a) shall not exceed an amount
equal to 5 percent of the association’s assets.

Retrieval chunks

  • #1 | Financial Code - FIN - FIN § 7505.5

    (a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrower’s general credit standing and projected future income for repayment, without …