Cal. Code Regs. tit. 21 § 7117

Current through Register 2024 Notice Reg. No. 49, December 6, 2024

Section 7117 - Definitions

For the purposes of this article, the following definitions apply:

(a) "Applications" means "completed applications" as defined in paragraph (c) of Section 7102, Title 21, California Code of Regulations.

(b) "Enforcement agency" means:

(1) The Department of Real Estate for real estate brokers engaged in mortgage banking;

(2) The Department of Corporations for broker-dealers, credit unions, industrial loan companies, finance lenders, and residential mortgage lenders;

(3) The Department of Insurance for insurers; and

(4) The Business, Transportation and Housing Agency for all other lenders.

(c) "Lender" means a person (Health and Safety Code Section 19) who regularly (Section 7102(n) Title 21, California Code of Regulations) provides financial assistance (Section 7102(g) Title 21, California Code of Regulations) and who does not report to a federal or state regulatory agency as provided by the Home Mortgage Disclosure Act of 1975 as amended. (12 USC 2801 et seq.)

(d) "Loan" and "loans" means loans for the purpose of acquiring and improving one- to four-unit dwellings.

Cal. Code Regs. Tit. 21, § 7117

1. Repealer and new section filed 8-28-89; operative 9-27-89 (Register 89, No. 37). For prior history, see Registers 85, No. 47 and 85, No. 26.
2. Change without regulatory effect amending subsections (b)(1)-(2) filed 1-10-96 pursuant to section 100, title 1, California Code of Regulations (Register 96, No. 2).

Note: Authority cited: Section 35814, Health and Safety Code. Reference: Section 35816, Health and Safety Code.