Section 22685.
22685. (a) A program administrator shall derive market value using one of the following: (1) Automated valuation models, using the following criteria: (A) Each automated valuation model must be provided by a third-party vendor. (B) Each automated valuation model must have estimation models with confidence scores and regular statistical calibration by the third-party vendor. (C) The program administrator shall utilize […]
Section 22550.
22550. Sections 22152, 22154, 22155, 22163, and 22164 do not apply to any commercial loan of a bona fide principal amount of five thousand dollars ($5,000) or more, or to a duly licensed finance lender in connection with any such loan or loans, if the provisions of this section are not used for the purpose […]
Section 22551.
22551. In determining whether a loan is a loan of a bona fide principal amount of the specified amount or more, the following principles shall apply: (a) If a borrower applies for a loan in a bona fide principal amount of less than the specified amount and a loan to that borrower of a bona fide […]
Section 22552.
22552. This chapter does not apply to a program administrator or a PACE solicitor. (Added by Stats. 2017, Ch. 475, Sec. 70. (AB 1284) Effective October 4, 2017.)
Section 22600.
22600. (a) A licensee may sell promissory notes evidencing the obligation to repay loans made by the licensee pursuant to this division or evidencing the obligation to repay loans purchased from and made by another licensee pursuant to this division to institutional investors, and may make agreements with institutional investors for the collection of payments or […]
Section 22600.1.
22600.1. (a) A licensee that is a finance lender may sell to (1) an institutional lender, or (2) an institutional investor described in paragraph (6) of subdivision (b) of Section 22600, promissory notes evidencing the obligation to repay real estate secured business purpose loans, as defined in Section 3500.5 of Title 24 of the Code of […]
Section 22601.
22601. With respect to a loan under this division, a fee not to exceed fifteen dollars ($15) for the return by a depository institution of a dishonored check, negotiable order of withdrawal, or share draft may be charged and collected by the licensee. The fee is not included in charges as defined in this division. […]
Section 22462.
22462. The payment of fees for participation in an open-end credit program, the acceptance by a borrower of the form of the licensee’s program, and the borrower’s agreement to the licensee’s program shall not be deemed to be a collateral sale, purchase, or agreement within the terms of Section 22201, 22311, or 22312. (Repealed and […]
Section 22602.
22602. (a) A licensee that is a finance lender may pay compensation to a person that is not licensed pursuant to this division in connection with the referral of one or more prospective borrowers to the licensee, when all of the following conditions are met: (1) The referral by the unlicensed person leads to the consummation of […]
Section 22463.
22463. Nothing in this article limits the authority of the commissioner to disapprove advertising with respect to open-end loans pursuant to Section 22165. (Amended by Stats. 2019, Ch. 708, Sec. 13. (AB 539) Effective January 1, 2020.)