reglab/housing_qa huggingface dataset:
CA Fin Code § 7451 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7451.

7451.  Except as otherwise provided by the commissioner, an association shall not make or acquire total loans with respect to one borrower or on one project in an amount exceeding 25 percent of the net worth of the association. As used in this section, “one borrower” has the meaning defined in Section 7453.(Amended by Stats. 1990, Ch. 1118, Sec. 42.)
CA Fin Code § 7452 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7452.

7452.  (a) An association may make consumer loans, provided that the total of such loans shall not exceed 30-percent of the assets of the association.(b) An association may include loans to dealers in consumer goods to finance inventory and floor planning in the total investment as part of the 30-percent limitation described in subdivision (a). For purposes of the limitations on loans to one borrower, loans to dealers in consumer goods to finance inventory and floor planning shall be treated as commercial loans.(Amended by Stats. 1984, Ch. 225, Sec. 5. Effective June 21, 1984.)
CA Fin Code § 7454 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7454.

7454.  Each association is authorized to issue credit cards, extend credit in connection with the cards, and otherwise engage in or participate in credit card operations. The provisions of Title 2 (commencing with Section 1801) of the Civil Code shall not apply to any credit extended by an association pursuant to the provisions of this section.(Amended by Stats. 1985, Ch. 983, Sec. 12.4. Effective September 26, 1985.)
CA Fin Code § 7455 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7455.

7455.  No association or director, officer, or employee of an association shall require, as a condition to the granting of any loan or the extension of any other service by the association, that the borrower or any other person undertake a contract of insurance with any specific company, agency, or individual.(Added by Stats. 1984, Ch. 287, Sec. 27. Effective July 6, 1984.)
CA Fin Code § 7456 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7456.

7456.  Any loan commitment made by an association shall be counted as an investment and shall be included in total assets of the association only to the extent that funds have been advanced (and not repaid) pursuant to the commitment. For the purposes of this section, the term “loan commitment” includes a loan in process, a letter of credit, or any other commitment to extend credit.(Added by Stats. 1984, Ch. 225, Sec. 7. Effective June 21, 1984.)
CA Fin Code § 7457 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7457.

7457.  An association may make loans on the security of its savings accounts, whether or not the borrower is the owner of the account, subject to the limitations of this article.(Added by Stats. 1984, Ch. 868, Sec. 11.2.)
CA Fin Code § 7458 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7458.

7458.  An association may make overdraft loans specifically related to transaction accounts, subject to regulations issued by the commissioner.(Added by Stats. 1984, Ch. 868, Sec. 11.3.)
CA Fin Code § 7459 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7459.

7459.  In addition to establishing reserves pursuant to Section 6476, an association or federal association, as defined in Section 5102, may establish a separate loan reserve account regarding losses resulting from fraud by a borrower and may recover any of those losses from that borrower.(Added by Stats. 1985, Ch. 656, Sec. 2.)
CA Fin Code § 7460 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7460.

7460.  (a) Notwithstanding Section 726 of the Code of Civil Procedure or any other provision of law to the contrary, an association, a federal association, an affiliate of an association or federal association, a service corporation, or any successor in interest thereto, that originates, acquires, or purchases, in whole or in part, any loan secured directly or collaterally, in whole or in part, by a mortgage or deed of trust on real property, or any interest therein, may bring an action for recovery of damages, including exemplary damages not to exceed 50 percent of the actual damages, against a borrower where the action is based on fraud under Section 1572 of the Civil Code and the fraudulent conduct by the borrower induced the original lender to make that loan.(b) The provisions of this section shall not apply to loans secured by single-family, owner-occupied residential real property, when the property is actually occupied by the borrower as represented to the lender in order to obtain the loan and the loan is for an amount of one hundred fifty thousand dollars ($150,000) or less, as adjusted annually, commencing on January 1, 1987, to the Consumer Price Index as published by the United States Department of Labor.(c) Any action maintained under this section for damages shall not constitute a money judgment for deficiency or a deficiency judgment within the meaning of Section 580a, 580b, or 580d of the Code of Civil Procedure.(Amended by Stats. 1986, Ch. 173, Sec. 2.)
CA Fin Code § 7461 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7461.

7461.  The provisions of any deed of trust or mortgage on real property which authorize an association, federal association, affiliate or service corporation of an association or federal association, or any successor in interest thereto, to accelerate the maturity date of the principal and interest on any loan secured thereby or to exercise any power of sale or other remedy contained therein upon the failure of the trustor or mortgagor to pay, at the times provided for under the terms of the deed of trust or mortgage, any taxes, rents, assessments, or insurance premiums with respect to the property or the loan, or any advances made by the association, federal association, affiliate or service corporation of an association or federal association, or any successor in interest thereto, shall be enforceable whether or not impairment of the security interest in the property has resulted from the failure of the trustor or mortgagor to so pay the taxes, rents, assessments, insurance premiums, or advances.(Added by Stats. 1987, Ch. 397, Sec. 3.)
CA Fin Code § 7462 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 5 - Investment in Loans|Section 7462.

7462.  The provisions of any deed of trust or mortgage on real property which authorize an association, federal association, affiliate or service corporation of an association or federal association, or any successor in interest thereto, to receive and control the disbursement of the proceeds of any policy of fire, flood, or other hazard insurance respecting the property shall be enforceable whether or not impairment of the security interest in the property has resulted from the event that caused the proceeds of the insurance policy to become payable.(Added by Stats. 1987, Ch. 397, Sec. 4.)
CA Fin Code § 7500 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7500.

7500.  (a) Subject to limitations, if any, within this chapter, an association may originate, invest in, sell, purchase, service, participate, or otherwise deal in (including brokerage or warehousing) loans, including construction loans, made on the security of residential or nonresidential real property, or interests in these loans.(b) No investment in real property or a real estate loan shall be made by an association until one or more written appraisal reports, prepared at the request of an association or its agent, have been submitted to the association by a person or persons meeting the qualification standards for an appraiser as set forth in the commissioner’s regulations. No commitment to disburse shall be made by the association until the person or persons have been duly appointed and qualified as appraisers by the association. Such a person or persons shall have made a physical inspection and submitted to the association a fully documented appraisal of the real estate that would secure the loan or constitute the investment, or, in the case of a purchased loan, the person or persons have reviewed and approved an appraisal report in support of the loan. If the balance of any purchased loan is one million dollars ($1,000,000) or more, the person or persons reviewing and approving the appraisal report shall have inspected the real estate. Each appraisal report submitted to an association pursuant to this subdivision shall be signed and shall include the tax identification number, social security number, or other form of verifiable identification of the person or persons signing the appraisal report.(c) For the purpose of determining appraised value, unimproved property without offsite improvements shall be evaluated as though offsite improvements have been installed if a subdivision map has been recorded and a bond or other instrument guaranteeing installation of the offsite improvements has been accepted by the governing authorities in connection with the recording of the subdivision map.(Amended by Stats. 1988, Ch. 718, Sec. 15.)
CA Fin Code § 7501 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7501.

7501.  Each real estate loan shall be evidenced by a note or instrument of obligation for the amount of the loan. The note or instrument shall specify the amount and terms of repayment including any penalty or charge for late payment, and may contain all other terms of the loan contract.(Added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 7502 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7502.

7502.  (a) Each real estate loan shall be secured by a deed of trust, mortgage, or other transaction or instrument constituting a lien or claim, or its equivalent, upon the real estate securing the loan, according to any lawful and recognized practice that is suited to the transaction. Any deed of trust or other instrument or transaction constituting a lien or claim is included in the term “mortgage” in this division.(b) A mortgage shall provide specifically for full protection to the association with respect to the loan and additional advances, including any terms and conditions that the association deems necessary and appropriate to state the agreement between the parties.(Added by Stats. 1983, Ch. 1091, Sec. 2.)
CA Fin Code § 7503 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7503.

7503.  Except as specified by the loan contract or by Section 2954.8 of the Civil Code, an association shall have no obligation to pay interest to the borrower upon funds credited to an impound, trust, or other type of account for payment of taxes, insurance, or other charges relating to the property, or to invest them for the benefit of the borrower, unless the funds have been placed in an interest bearing savings account under the terms of the loan contract.(Amended by Stats. 1984, Ch. 287, Sec. 29. Effective July 6, 1984.)
CA Fin Code § 7505 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7505.

7505.  (a) Notwithstanding any other provision of law, an association may originate, invest in, sell, purchase, service, participate, or otherwise deal in loans (including construction loans) on the security of real property for primarily residential (other than a one- to four-unit dwelling) or nonresidential use, subject to the limitations of this article.(b) An association’s aggregate investment in real property loans for primarily nonresidential use under this section shall not exceed 40 percent of assets.(Amended by Stats. 1987, Ch. 730, Sec. 15.)
CA Fin Code § 7505.5 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7505.5.

7505.5.  (a) A savings association may make loans the principal purpose of which is to provide financing with respect to what is, or what is to become, primarily residential real estate, for which the association relies substantially on the borrower’s general credit standing and projected future income for repayment, without other security, or relies on other assurances for repayment, including guarantees or other obligations of third parties.(b) An association’s aggregate investment in residential real estate loans described in subdivision (a) shall not exceed an amount equal to 5 percent of the association’s assets.(Added by Stats. 1990, Ch. 1118, Sec. 44.)
CA Fin Code § 7506 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7506.

7506.  Notwithstanding any other provision of the law, an association may make a loan secured by an assignment of a loan or loans to the extent that it could, under applicable law and regulations, make or purchase the underlying assigned loan or loans.(Added by Stats. 1983, Ch. 1176, Sec. 9.)
CA Fin Code § 7507 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7507.

7507.  (a)  An association may make loans or advances of credit, or invest in interests therein, on the security of real property, which loans, advances of credit, or investments are not otherwise authorized under the law because of the following reasons:(1) The loan-to-value ratio, stated maturity, or loan amount is in excess of the maximum allowable limits.(2) Lack of any required borrower certification or required private mortgage insurance.(3) The loan would cause an applicable percentage-of-assets category to be exceeded.(4) A combination of the foregoing factors.(b) Investments made under the authority of this section are subject to the following restrictions:(1) No association shall have investments under this section aggregating at any one time more than 5 percent of its total assets.(2) Each investment made under this section shall be fully documented to support the conclusion that it was made on a prudent basis.(3) Loans made pursuant to this section shall comply with subparagraph (D) of paragraph (5), and paragraph (6), of subdivision (b), of Section 7504, where applicable.(Amended by Stats. 1990, Ch. 1118, Sec. 45.)
CA Fin Code § 7509 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 6 - Real Estate Loans|Section 7509.

7509.  (a) (1) At the time of origination, a real estate loan may not exceed 100 percent of the market value of security property. An association shall, by vote of its board of directors, establish maximum loan-to-value ratios for loans made on the security of real estate, and the resolution adopting those ratios shall be included in the minutes of the directors’ meeting. Home loans, as defined in Section 7504, made on the combined security of real estate and savings accounts may be made in excess of the maximum loan-to-value ratios adopted pursuant to this subdivision with the excess secured by the savings account.(2) However, for loans originated in excess of 90 percent of the initial appraised value of the security property, the savings account shall consist only of funds belonging to the borrower, the borrower’s family, or the borrower’s employer, and the loans shall not exceed the appraised value of the real estate.(b) With respect to home loans originated or refinanced in excess of 90 percent of the appraised value of the security property, that part of the unpaid balance that exceeds 80 percent of the property value shall be insured or guaranteed by a mortgage insurance company that the Federal Home Loan Mortgage Corporation has determined to be a “qualified private insurer.”(c) With respect to all other loans on the security of real estate originated in excess of 90 percent of the appraised value of the security property, an association’s board of directors shall approve each of these loans prior to its origination and that approval shall be recorded in the minutes of its meeting.(d) An association shall not make a loan secured by unimproved real property if the loan-to-value ratio would exceed 80 percent of the appraised value of the unimproved real property securing the loan.(e) In determining compliance with maximum loan-to-value-ratio limitations for real estate loans, at the time of making a loan, an association shall add together the unpaid amount, or in the case of a line-of-credit loan, the approved credit limit, of all recorded loans secured by prior mortgages, liens, or other encumbrances on the security property that would have priority over the association’s lien, and shall not make the loan unless the total amount of those loans, including the loan to be made but excluding loans that will be paid off out of the proceeds of the new loan, does not exceed the applicable maximum loan-to-value-ratio limitations prescribed in this subdivision. In determining the value of the real estate security, an association shall use the current appraised value of the security property, which may include any expected value of improvements to be financed.(f) “Value” for a real estate loan means the market value of the real estate.(Amended by Stats. 2006, Ch. 538, Sec. 169. Effective January 1, 2007.)
CA Fin Code § 7600 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 7 - Successors in Interest in Loans|Section 7600.

7600.  In the case of any investment made by an association in a real estate loan, in the event all or part of the ownership of the real estate security becomes vested in a person other than the party or parties originally executing the security instruments and if there is not an agreement in writing to the contrary, an association may, without notice to the party or parties, deal with a successor in interest to the mortgage and debt in the same manner as with the original party or parties, and may forbear to sue or may extend time for payment of or otherwise modify the terms of the debt, without discharging or in any way affecting the original liability of the party or parties or their debt.(Amended by Stats. 2006, Ch. 538, Sec. 170. Effective January 1, 2007.)
CA Fin Code § 7650 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 8 - Salvage of Loans and Investments|Section 7650.

7650.  (a) Except as provided in subdivision (b), nothing in this division or the laws of this state shall be construed as denying to an association the right to invest its funds, operate a business, manage or deal in property, or take any other action over whatever period of time may reasonably be necessary to avoid loss on a loan or investment made or an obligation created in good faith.(b) Associations which do not meet the requirements of Section 6475, or have been issued an order pursuant to Section 8200, shall not take any action pursuant to this section without first obtaining approval, in writing, from the commissioner.(Amended by Stats. 1985, Ch. 983, Sec. 12.7. Effective September 26, 1985.)
CA Fin Code § 7675 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 9 - Usury Exemption|Section 7675.

7675.  (a) Pursuant to the authority contained in Section 1 of Article XV of the California Constitution, the restrictions upon rates of interest contained in Section 1 of Article XV of the California Constitution shall not apply to any obligations of, loans made or arranged by, or forbearances of, an association; a federal association; a qualified foreign savings association; an entity that is a savings and loan holding company; a subsidiary of a savings and loan holding company that is not an association; or a service corporation which is a subsidiary of an association, a federal association, or a qualified foreign savings association. As used in this section, the terms “savings and loan holding company” and “subsidiary” mean a savings and loan holding company or a subsidiary, as defined in Section 10 of the Home Owners Loan Act, as amended (12 U.S.C. Sec. 1467a), and the term “service corporation” means a service corporation described in Section 5(c)(4)(B) of the Home Owners’ Loan Act of 1933 (12 U.S.C. Sec. 1464), as amended, or Section 7252, or a wholly owned subsidiary referred to in Section 7300.(b) Subdivision (a) creates and authorizes an exempt class of persons pursuant to Section 1 of Article XV of the California Constitution. Notwithstanding any other provision of law, subdivision (a) does not exempt an association; a federal association; a foreign savings association; a savings and loan holding company, a subsidiary of a savings and loan holding company; a service corporation which is a subsidiary of an association; a federal association, or foreign savings association from complying with all other law and regulations governing the business in which the association, federal association, foreign savings association, savings and loan holding company, subsidiary of a savings and loan holding company, or service corporation which is a subsidiary of an association, a federal association, or a foreign savings association is engaged.(c) For purposes of this section, “foreign savings association” means a foreign savings association as defined in Chapter 10 (commencing with Section 10000) or Chapter 10.1 (commencing with Section 10010) and “qualified foreign savings association” means a foreign savings association that has been authorized to conduct the business of an association in this state by the commissioner.(Amended by Stats. 1990, Ch. 1118, Sec. 46.5.)
CA Fin Code § 7700.3 (2021)
2021 California Code|Financial Code - FIN|DIVISION 2 - SAVINGS ASSOCIATION LAW|CHAPTER 6 - Investment Operations|ARTICLE 10 - Finance Leasing|Section 7700.3.

7700.3.  An association may engage in leasing activities that are the functional equivalent of lending, subject to the limitations of Sections 7701 to 7704, inclusive.(Added by Stats. 1985, Ch. 983, Sec. 13. Effective September 26, 1985.)