California Business and Professions Code

§ 10085.6

BPC § 10085.6 Effective Jan 1, 2013Div. 4 · Part 1 · Ch. 2 · Art. 1

Statute text

(a)Notwithstanding any other provision of law, it shall be unlawful for any licensee who negotiates, attempts to negotiate, arranges, attempts to arrange, or otherwise offers to perform a mortgage loan modification or other form of mortgage loan forbearance for a fee or other compensation paid by the borrower, to do any of the following:

(1)Claim, demand, charge, collect, or receive any compensation until after the licensee has fully performed each and every service the licensee contracted to perform or represented that he, she, or it would perform.

(2)Take any wage assignment, any lien of any type on real or personal property, or other security to secure the payment of compensation.

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Legislative history

Amended by Stats. 2012, Ch. 569, Sec. 1. (AB 1950) Effective January 1, 2013.