California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 11.5
Article 5 - Borrowers and Advertising
Section 1950.204.2 - Charges to Seller
Universal Citation: 5 CA Code of Regs 1950.204.2
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) Except for FHA-insured or VA-guaranteed residential mortgage loans, no licensee shall:
(1) Impose any charges upon a seller
under a borrower's purchase contract; or
(2) Impose any charges on the seller,
pursuant to another agreement or loan commitment, unless specifically
authorized in writing by that seller to do so.
(b) For purposes of this Section, "seller" refers to the vendor of real estate which is the subject of the residential mortgage loan.
1. New section filed 11-25-96; operative 12-25-96 (Register 96, No. 48).
Note: Authority cited: Section 50304, Financial Code. Reference: Sections 50204, Financial Code.
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