California Financial Code

§ 50124

FIN § 50124 Effective Oct 11, 2009Div. 20 · Ch. 2

Statute text

(a)A residential mortgage lender or servicer shall do all of the following:

(1)Maintain staff adequate to meet the requirements of this division, as prescribed by rule or order of the commissioner.

(2)Keep and maintain for 36 months from the date of final entry the business records and other information required by law or rules of the commissioner regarding any mortgage loan made or serviced in the course of the conduct of its business.

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Legislative history

Amended by Stats. 2009, Ch. 160, Sec. 54. (SB 36) Effective October 11, 2009.