California Code of Regulations
Title 12 - Military and Veterans Affairs
Division 2 - Department of Veterans Affairs
Chapter 2 - Veterans' Farm and Home Purchases
Subchapter 1 - Eligibility and Qualifications
Section 302.1 - Use of Mortgage Brokers

(a) Mortgage Brokers may represent the applicant during the loan process, and have access to any status information available through the Internet, over the telephone, or in person on behalf of the applicant and upon verification of authorization by the applicant via receipt by the Department of the "Designation of Agent and General Release" form (Form A-3 Rev. 10/00), or other agreements signed by the Agent and buyer, such as the Purchase Agreement, that authorizes the agent to act on the buyer's behalf.

(b) The Department shall post all program changes that affect loan processing on its Website for easy access by real estate professionals to keep them informed.

(c) The Department will certify individual mortgage broker companies who sign and complete a Mortgage Broker Agreement, complete three completed loans within 24 months, and send loan officers to Cal-Vet training. The Department will provide standardized training to Mortgage Brokers and their loan officers as resources permit on Cal-Vet loan processing and eligibility, which shall include, a training manual, and issuing a certificate verifying completion of training. This may be through Department staff or through a private vendor selected by the Department. Attendance is by pre-registration, and there may be a cost to cover materials and instruction.

(d) Use of Mortgage Brokers on USDVA guaranteed loans is subject to USDVA requirements since the Department is a USDVA guaranteed lender.

(e) A Loan Origination Fee to be paid through escrow by the buyer or seller of up to 1% of the loan amount may be charged and paid to any Mortgage Broker assisting the applicant and pursuant to the requirements as stated in this section.