ARTICLE 7. Real Property Loans [10240. - 10248.3.]
Article 7 added by Stats. 1961, Ch. 886.
§§ 10240–10248.3 · 22 sections
- § 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…
- § 10240.1 The provisions of this article, exclusive of the provisions of Section 10240, apply only to loans secured by a dwelling.
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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,…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…
- § 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…