CHAPTER 5. Administration and Powers of the Commissioner [50301. - 50333.]

Chapter 5 added by Stats. 1994, Ch. 994, Sec. 7.

§§ 50301–50333 · 36 sections

§ 50301 Without limitation, the functions, powers, and duties of the commissioner include the following: (a) To issue or refuse to issue a license as provided by this…
§ 50302 (a) As often as the commissioner deems necessary and appropriate, but at least once every 48 months, the commissioner shall examine the affairs of each…
§ 50303 Neither the commissioner nor any employee of the Department of Financial Protection and Innovation shall be precluded from obtaining a residential mortgage…
§ 50304 The commissioner may, from time to time, make, amend, and rescind the rules, forms, and orders that are necessary to carry out the provisions of this law,…
§ 50305 Upon written request from the commissioner, a licensee shall forward authorization to release workpapers of the licensee’s independent auditor to the…
§ 50306 The commissioner may order a licensee that opens a branch office in this state or changes its business location or its locations from which activities subject…
§ 50307 (a) Each residential mortgage lender or servicer licensee shall file a report with the commissioner annually, on or before the first day of March, giving the…
§ 50307.1 The commissioner may, as the commissioner deems necessary, require licensees to provide reports concerning their residential mortgage loan servicing…
§ 50307.2 The commissioner may require a licensee that employs one or more mortgage loan originators to submit to the Nationwide Mortgage Licensing System and Registry…
§ 50308 If any person engaged in the business regulated by this division refers in any advertising to rates of interest, charges, or costs of loans, the commissioner…
§ 50309 The commissioner may require licensees to maintain a file of all advertising copy for a period of 90 days from the date of its use. The file shall be available…
§ 50310 Nothing in this law shall preclude a person, other than a mortgage loan originator, whose license has been suspended or revoked, summarily or otherwise, from…
§ 50311 Nothing in this law shall preclude a person whose license has been suspended or revoked, summarily or otherwise, from making a residential mortgage loan…
§ 50312 The commissioner, in his or her discretion, may honor requests from interested persons for interpretive opinions.
§ 50313 In any proceeding under this law, the burden of proving an exemption or an exception from a definition is upon the person claiming it.
§ 50314 (a) Every person subject to this division shall keep documents and records that will properly enable the commissioner to determine whether the residential…
§ 50315 (a) The commissioner may refer the evidence that is available concerning any violation of this law or of any rule or order adopted under this division to the…
§ 50316 (a) For any licensee, a disciplinary action taken by the State of California, another state, any agency of the federal government, or another country for any…
§ 50316.5 Notwithstanding any other law, any application for licensure, amendment to the application or registration document or notice filed under any of the laws…
§ 50317 (a) Any person who has been convicted of, or pleaded nolo contendere to any crime specified in subdivision (b) within the past 10 years or has been held liable…
§ 50318 (a) The commissioner may, after appropriate notice and opportunity for hearing, by order censure or suspend for a period not exceeding 12 months, or bar from…
§ 50319 (a) If the commissioner, as a result of any examination or from any report made to him or her, shall find that any person subject to this division is in an…
§ 50320 Whenever, in the opinion of the commissioner, a person is engaged, either actually or through subterfuge, in the business of making residential mortgage loans,…
§ 50321 If, after investigation, the commissioner has reasonable grounds to believe that any licensee is violating or has violated its articles of incorporation or any…
§ 50322 If, after investigation, the commissioner has reasonable grounds to believe that any licensee is conducting or has conducted business in an unsafe or injurious…
§ 50323 (a) No order issued pursuant to Section 50321 or 50322 may become final except after notice to the affected licensee of the commissioner’s intention to make…
§ 50324 (a) If, after investigation, the commissioner has reasonable grounds to believe that any person has engaged or is about to engage in any act or practice…
§ 50325 The commissioner may immediately revoke the residential mortgage lender’s, residential mortgage loan servicer’s, or mortgage loan originator’s license if the…
§ 50326 If any licensee fails to do any of the following, the licensee shall forfeit to the people of the state a sum of up to one hundred dollars ($100) for every day…
§ 50327 (a) The commissioner may, after notice and a reasonable opportunity to be heard, deny, decline to renew, suspend, or revoke any license if the commissioner…
§ 50328 Except in the case of an exempt person, whenever the commissioner deems it to be necessary for the public interest, the commissioner has continuous authority…
§ 50329 (a) In making an investigation or examination authorized by this division, the commissioner may, for a reasonable time not exceeding 30 days, control access to…
§ 50330 The authority to make or conduct any examination or investigation may be delegated by the commissioner to any deputy, investigator, examiner, or auditor…
§ 50331 All hearings provided for in this division shall be conducted in accordance with the provisions of Chapter 5 (commencing with Section 11500) of Part 1 of…
§ 50332 Every order, decision, license, or other official act of the commissioner is subject to review, in accordance with law.
§ 50333 (a) The commissioner shall apply the guidance on nontraditional mortgage product risks published on November 14, 2006, by the Conference of State Bank…