Title FIN, California Fin. Code

A program administrator shall not execute an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed unless the following criteria are satisfied: (a) All pr…

(a) A program administrator shall derive market value using one of the following: (1) Automated valuation models, using the following criteria: (A) Each automated valuation model must be provided by a third-party vendor. (B) Each automated valuation model must have estimation mod…

A program administrator shall not execute an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed unless the program administrator makes a reasonable goo…

(a) A program administrator shall determine before executing an assessment contract, and no work shall commence under a home improvement contract that is financed by that assessment contract nor shall that home improvement contract be executed until this determination is made, th…

A program administrator shall be subject to all provisions of the California Financial Information Privacy Act (Division 1.4 (commencing with Section 4050)) that are applicable to financial institutions. (Amended by Stats. 2018, Ch. 798, Sec. 8. (SB 1087) Effective January 1, 201…

(a) A program administrator shall not permit a PACE solicitor to do any of the following: (1) Solicit a property owner to enter into an assessment contract with a program administrator, unless the PACE solicitor and the program administrator comply with the requirements of this c…

(a) A program administrator is subject to an inspection, examination, or investigation in accordance with Section 22701. (b) If, in the course of an inspection, examination, or investigation of a program administrator, the commissioner has cause to believe that the program admini…

(a) The department shall maintain, on its Internet Web site, the identities of enrolled PACE solicitors and PACE solicitor agents. The Internet Web site shall identify the date of the most recent update, and the frequency with which the list is updated. This subdivision shall bec…

The commissioner may by any rules he or she deems necessary or appropriate in the public interest or for the protection of property owners, either unconditionally or upon specified terms and conditions or for specified periods, exempt any class of persons specified in those rules…

(a) The commissioner shall require a program administrator to submit the following information in the annual report filed under Section 22159: (1) Information beneficial to an evaluation of the overall impact on property owners caused by the 97 percent cap on total PACE and mortg…

(a) The commissioner may, by rule, require a program administrator to use a real-time registry or database system for tracking PACE assessments in order to carry out his or her regulatory duties and to support enforcement. That registry or database system shall enable the program…

This chapter does not apply to a finance lender, mortgage loan originator, or broker licensee, unless they engage in the business of a program administrator, PACE solicitor, or PACE solicitor agent. (Amended by Stats. 2018, Ch. 798, Sec. 13. (SB 1087) Effective January 1, 2019.)

(a) A violation of this chapter by any person is not subject to the criminal penalties established pursuant to Sections 22753 and 22780. (b) Notwithstanding Section 22696, this section shall become operative on the effective date of this act. (Added by Stats. 2017, Ch. 475, Sec. …

Except as provided in Sections 22684, 22685, 22686, 22687, 22688, and 22695, this chapter shall become operative on January 1, 2019. (Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Note: Operative date provision applies, with specified exceptions, to…

This chapter does not preclude or reduce any rights and remedies established under any other laws. (Added by Stats. 2017, Ch. 475, Sec. 71. (AB 1284) Effective October 4, 2017. Section operative January 1, 2019, pursuant to Section 22696.)

(a) An applicant for a license as a mortgage loan originator shall apply by submitting the uniform form prescribed for that purpose by the Nationwide Mortgage Licensing System and Registry. The commissioner may require the submission of additional information or supporting docume…

(a) The commissioner shall deny an application for a mortgage loan originator license unless the commissioner makes at a minimum the following findings: (1) The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subs…

(a) An applicant for a mortgage loan originator license shall complete at least 20 hours of education approved in accordance with subdivision (b). The education shall include at least the following: (1) Three hours of instruction on federal law and regulations. (2) Three hours of…

(a) An applicant for a mortgage loan originator license shall pass a qualified written test developed or otherwise deemed acceptable by the Nationwide Mortgage Licensing System and Registry and administered by a test provider approved by the Nationwide Mortgage Licensing System a…

(a) A mortgage loan originator shall comply with the requirements of this section on or before December 31 of every year. (b) The minimum standards for license renewal for mortgage loan originators shall include the following: (1) The mortgage loan originator continues to meet th…

(a) A licensed mortgage loan originator shall complete at least eight hours of continuing education approved in accordance with subdivision (b). The continuing education shall include at least the following: (1) Three hours of instruction on federal law and regulations. (2) Two h…

In addition to any other duties imposed upon the commissioner by law, the commissioner shall require mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. In order to carry out this requirement the commissioner is a…