ARTICLE 2. Mortgage of Real Property

Article 2 enacted 1872.

§§ 2947–2955.5 · 30 sections

§ 2947 Any interest in real property which is capable of being transferred may be mortgaged.
§ 2948 A mortgage of real property may be made in substantially the following form: This mortgage, made the ____ day of ________, in the year ____, by AB, of _____,…
§ 2948.5 (a) A borrower shall not be required to pay interest on a principal obligation under a promissory note secured by a mortgage or deed of trust on real property…
§ 2949 (a) No mortgage or deed of trust on real property containing only a single-family, owner-occupied dwelling may be declared in default, nor may the maturity…
§ 2950 When a grant of real property purports to be an absolute conveyance, but is intended to be defeasible on the performance of certain conditions, such grant is…
§ 2951 (a) A conventional home mortgage loan originated on or after January 1, 2027, and secured by owner-occupied residential real property containing four or fewer…
§ 2952 Mortgages and deeds of trust of real property may be acknowledged or proved, certified and recorded, in like manner and with like effect, as grants thereof;…
§ 2953 Any express agreement made or entered into by a borrower at the time of or in connection with the making of or renewing of any loan secured by a deed of trust,…
§ 2953.1 As used in this section: (a) “Real property security instrument” shall include any mortgage or trust deed or land contract in or on real property. (b)…
§ 2953.2 Every real property security instrument which contains or has attached a subordination clause shall contain: (a) At the top of the real property security…
§ 2953.3 Every subordination agreement shall contain: (a) At the top of the subordination agreement there shall appear in at least 10-point bold type, or, if…
§ 2953.4 (a) Any subordination clause and any subordination agreement which is executed after the effective date of this act and which does not substantially comply…
§ 2953.5 (a) Sections 2953.1 through 2953.4 shall not apply to any subordination clause or subordination agreement which expressly states that the subordinating loan…
§ 2954 (a) (1) No impound, trust, or other type of account for payment of taxes on the property, insurance premiums, or other purposes relating to the property shall…
§ 2954.1 No lender or person who purchases obligations secured by real property, or any agent of such lender or person, who maintains an impound, trust, or other type…
§ 2954.2 (a) Every mortgagee of record of real property containing only a one- to four-family residence, when the mortgage is given to secure payment of the balance of…
§ 2954.4 (a) A charge that may be imposed for late payment of an installment due on a loan secured by a mortgage or a deed of trust on real property containing only a…
§ 2954.5 (a) Before the first default, delinquency, or late payment charge may be assessed by any lender on a delinquent payment of a loan, other than a loan made…
§ 2954.6 (a) If private mortgage insurance or mortgage guaranty insurance, as defined in subdivision (a) of Section 12640.02 of the Insurance Code, is required as a…
§ 2954.65 Within 30 days after notice of cancellation from the insured, a private mortgage insurer or mortgage guaranty insurer shall, if the policy is cancellable,…
§ 2954.7 Except when a statute, regulation, rule, or written guideline promulgated by an institutional third party applicable to notes or evidence of indebtedness…
§ 2954.8 (a) Every financial institution that makes loans upon the security of real property containing only a one- to four-family residence and located in this state…
§ 2954.85 (a) A financial institution that makes loans upon the security of real property containing only a one- to four-family residence and located in this state or…
§ 2954.9 (a) (1) Except as otherwise provided by statute, where the original principal obligation is a loan for residential property of four units or less, the borrower…
§ 2954.10 An obligee which accelerates the maturity date of the principal and accrued interest, pursuant to contract, on any loan secured by a mortgage or deed of trust…
§ 2954.11 (a) As used in this section: (1) “Open-end credit plan” has the meaning set forth in Regulation Z of the Federal Reserve System (12 C.F.R. 226.2(a)(20)). (2)…
§ 2954.12 (a) Notwithstanding Section 2954.7, and except when a statute, regulation, rule, or written guideline promulgated by an institutional third party applicable to…
§ 2955 (a) Money held by a mortgagee or a beneficiary of a deed of trust on real property in this state, or held by a vendor on a contract of sale of real property in…
§ 2955.1 (a) Any lender originating a loan secured by the borrower’s separate interest in a condominium project, as defined in Section 4125 or 6542, which requires…
§ 2955.5 (a) No lender shall require a borrower, as a condition of receiving or maintaining a loan secured by real property, to provide hazard insurance coverage…