Cal. Code Regs. tit. 10 § 1454

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 1454 - Statement of Loan or Documents Used to Comply with Financial Code: Form: Contents

(a) In addition to the specific requirements of Sections 22337, 22338 and 22400(b) of the Financial Code, the statement of loan form shall contain the following and may consist of more than one document:

(1) The name and address of the borrower;

(2) A statement of the actual amount of cash received and retained by the borrower and a statement of any funds (not including any charges within the meaning of Section 22306) paid to third persons pursuant to the written instructions of the borrower;

(3) A statement of any fees, charges, costs, insurance premiums or other sums which have been paid or are to be paid by or on behalf of the borrower at the time the loan is made. On any loan secured in part by real property, in which loan proceeds were disbursed to an escrow holder, delivery of a copy of the closing statement issued by such escrow holder will be sufficient notification for purposes of subsection (3) of this rule;

(4) A statement that the borrower shall have the right to make payment in advance and in any amount on any contract of loan at any time;

(5) A statement in not less than 12-point bold face capital letters:

FOR INFORMATION CONTACT THE DEPARTMENT OF BUSINESS OVERSIGHT, STATE OF CALIFORNIA.

(6) A statement that the loan is made pursuant to the California Finance Lenders Law, Division 9 (commencing with Section 22000) of the Financial Code.

(b) Subsection (a) shall apply to open end loans only to the extent requiring compliance with items (1), (5), and (6) in open end loan agreements.

(c) Any statement of loan form used by a mortgage lender, mortgage broker, mortgage lender and broker, or mortgage loan originator shall indicate the unique identifier of the mortgage lender, mortgage broker, mortgage lender and broker, or mortgage loan originator.

Cal. Code Regs. Tit. 10, § 1454

1. Amendment filed 3-20-78; effective thirtieth day thereafter (Register 78, No. 12).
2. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
3. Change without regulatory effect amending subsections (a), (a)(2), (a)(6) and NOTE filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).
4. New subsections (c) and (d) filed 4-1-2010 as an emergency; operative 7-31-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.
5. Editorial correction of HISTORY 4 (Register 2010, No. 40).
6. New subsection (c) refiled 9-28-2010 as an emergency, including repealer of subsection (d); operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
7. New subsection (c) and repealer of subsection (d) refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
8. Certificate of Compliance as to 12-23-2010 order transmitted to OAL 3-14-2011 and filed 4-25-2011 (Register 2011, No. 17).
9. Change without regulatory effect amending subsection (a)(5) filed 8-13-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 33).

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22150, 22156, 22158, 22306, 22337, 22338 and 22400, Financial Code.

1. Amendment filed 3-20-78; effective thirtieth day thereafter (Register 78, No. 12).
2. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
3. Change without regulatory effect amending subsections (a), (a)(2), (a)(6) and Note filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).
4. New subsections (c) and (d) filed 4-1-2010 as an emergency; operative 7-31-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.
5. Editorial correction of History 4 (Register 2010, No. 40).
6. New subsection (c) refiled 9-28-2010 as an emergency, including repealer of subsection (d); operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
7. New subsection (c) and repealer of subsection (d) refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
8. Certificate of Compliance as to 12-23-2010 order transmitted to OAL 3-14-2011 and filed 4-25-2011 (Register 2011, No. 17).

1. Amendment filed 3-20-78; effective thirtieth day thereafter (Register 78, No. 12).
2. Amendment filed 12-29-83; effective thirtieth day thereafter (Register 83, No. 53).
3. Change without regulatory effect amending subsections (a), (a)(2), (a)(6) and Note filed 6-14-95 pursuant to section 100, title 1, California Code of Regulations (Register 95, No. 24).
4. New subsections (c) and (d) filed 4-1-2010 as an emergency; operative 7-31-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.
5. Editorial correction of History 4 (Register 2010, No. 40).
6. New subsection (c) refiled 9-28-2010 as an emergency, including repealer of subsection (d); operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
7. New subsection (c) and repealer of subsection (d) refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
8. Certificate of Compliance as to 12-23-2010 order transmitted to OAL 3-14-2011 and filed 4-25-2011 (Register 2011, No. 17).
9. Change without regulatory effect amending subsection (a)(5) filed 8-13-2014 pursuant to section 100, title 1, California Code of Regulations (Register 2014, No. 33).