California Financial Code

§ 22317.5

FIN § 22317.5 Effective Jan 1, 2005Div. 9 · Ch. 2 · Art. 3

On any loan secured by real property, a licensee may not do either of the following:

(a)Fail to disburse funds in accordance with a commitment to make a loan that is accepted by the applicant.

(b)Intentionally delay the closing of a loan for the sole purpose of increasing interest, costs, fees, or charges payable by the borrower.

Legislative history

Added by Stats. 2004, Ch. 940, Sec. 4. Effective January 1, 2005.