California Financial Code

§ 50120

FIN § 50120 Effective Oct 11, 2009Div. 20 · Ch. 2

Statute text

(a)A residential mortgage lender shall file an application for licensure under this chapter with the commissioner to make or service residential mortgage loans in this state.

(b)A licensee may not engage in the business as a residential mortgage lender under a name other than the name that appears on the license, or a legally assumed name disclosed either in the application or in an amendment to the application, which shall be reflected on the license.

(c)A licensee may not make or service residential mortgage loans secured by real property pursuant to the authority of a license, or an exemption from licensure, under the Real Estate Law.

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Legislative history

Amended by Stats. 2009, Ch. 160, Sec. 50. (SB 36) Effective October 11, 2009.