CHAPTER 4. Financial Condition, Transaction and Bond Requirements [50200. - 50209.]

Chapter 4 added by Stats. 1994, Ch. 994, Sec. 7.

§§ 50200–50209 · 10 sections

• § 50200 (a) At the end of the licensee’s fiscal year, but in no case more than 12 months after the last audit conducted pursuant to this section, each licensed…
• § 50201 (a) A licensee issued a license for purposes of making or servicing residential mortgage loans, including a licensee employing one or more mortgage loan…
• § 50202 (a) Escrow funds for a purpose authorized by the residential mortgage loan contract (1) shall be subject to and satisfy all applicable state and federal…
• § 50203 (a) A licensee may not require a borrower to pay fees or charges prior to the residential mortgage loan closing, except for: (1) Actual charges to be incurred…
• § 50204 A licensee may not do any of the following: (a) Disburse the mortgage loan proceeds in a form other than direct deposit to the borrower’s or borrower’s…
• § 50205 (a) A residential mortgage lender or servicer licensee shall maintain a surety bond in accordance with this subdivision. The bond shall be used for the…
• § 50206 (a) Prior to a change of control of the business of a licensee, the person wishing to acquire control shall submit an application to the commissioner and pay…
• § 50207 (a) A license, along with any currently effective order of the commissioner approving use of a different name pursuant to Sections 50120 and 50130, shall be…
• § 50208 The license shall state the name of the licensee. If the licensee is a partnership, the license shall state the names of its general partners. If the licensee…
• § 50209 The unique identifier of any licensed mortgage loan originator shall be clearly shown on all residential mortgage loan application forms, solicitations, or…