reglab/housing_qa huggingface dataset:
CA Bus & Prof Code § 10241.4 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10241.4.

10241.4.  (a) Prior to a borrower becoming obligated on any loan secured by a dwelling that provides for a balloon payment and is otherwise subject to Section 10240, if any agreement includes a promise, representation, or similar undertaking to extend or seek the extension of the term of the loan or refinancing of the loan, and the undertaking is not set forth in the promissory note evidencing the loan or in a rider to that note, the undertaking shall be in writing and the notice required by this section shall be provided to the borrower.(b) The notice required by subdivision (a), shall state in at least 10-point boldface capitalized type:“AS THIS LOAN PROVIDES FOR A BALLOON PAYMENT, SEE THE MORTGAGE LOAN DISCLOSURE STATEMENT/GOOD FAITH ESTIMATE FOR IMPORTANT INFORMATION ON BALLOON PAYMENTS. ALSO, REFER TO THE LOAN DOCUMENTS AND THIS EXTENSION AGREEMENT FOR YOUR SPECIFIC RIGHTS AND OBLIGATIONS.”(c) The notice shall also contain, in at least 10-point boldface capitalized type, either of the following statements depending upon which statement best describes the nature of the undertaking:(1) The lender or noteholder has agreed to an extension, refinancing, or renegotiation of the terms of this loan, and the lender’s or noteholder’s signed agreement is attached (or the notice may describe the method used to furnish that signed document). Transmission by a broker of a lender’s or noteholder’s undertaking or the broker’s representation of that undertaking, pursuant to this section, does not of itself, create or alter any agency or similar relationship between the lender or noteholder and the borrower, or the lender or noteholder and the broker.(2) The broker, ____ (insert name of broker making or arranging the loan), has agreed to use his or her best efforts to obtain a future extension, refinancing, or renegotiation of the loan by the lender or note owner. There can be no assurance or guarantee that the lender or note owner will agree.(Added by Stats. 1994, Ch. 86, Sec. 1. Effective January 1, 1995. Operative July 1, 1995, by Sec. 2 of Ch. 86.)
CA Bus & Prof Code § 10242 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10242.

10242.  The maximum amount of expenses, charges and interest to be paid by a borrower with respect to any loan subject to this article shall be as follows:(a) The maximum amount of all costs and expenses referred to in subdivision (a) of Section 10241, exclusive of actual title charges and recording fees, shall not exceed 5 percent of the principal amount of the loan or three hundred ninety dollars ($390), whichever is greater but in no event to exceed seven hundred dollars ($700), provided that in no event shall said maximum amount exceed actual costs and expenses paid, incurred or reasonably earned.(b) The maximum amount of the charges referred to in subdivision (b) of Section 10241 shall not exceed the following amounts:(1) In the case of a loan secured directly or collaterally, in whole or in part by a first trust deed, 5 percent of the principal amount of the loan where the term of the loan is a period of less than three years and 10 percent where the term is a period of three years or more.(2) In the case of a loan secured directly or collaterally by a trust deed other than a first trust deed, 5 percent of the principal amount of the loan where the term of the loan is a period of less than two years, 10 percent where the term is a period of two years but less than three years, and 15 percent where the term is a period of three years or more.(3) With respect to a further advance on a note, the charges shall not exceed the charges for an original loan in the same amount as the further advance and made for a term equal to the remaining term of the note on which the further advance is being made, including any extension thereof.(c) No interest may be charged with respect to any period prior to the date that the proceeds of the loan are made available to the borrower or are deposited in escrow.(Amended by Stats. 1990, Ch. 834, Sec. 1.)
CA Bus & Prof Code § 10242.5 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10242.5.

10242.5.  (a) A charge imposed for late payment of an installment due on a loan secured by a mortgage or deed of trust on real property shall not exceed an amount equal to 10 percent of the installment due, except that a minimum charge of five dollars ($5) may be imposed when the late charge permitted by this section would otherwise be less than that minimum charge.The charge permitted by this section may be assessed only as a percentage of the increment of any installment due that is attributable to principal and interest.(b) No charge may be imposed more than once for the same late payment of an installment. No late charge may be imposed on any installment which is paid or tendered in full within 10 days after its scheduled due date, even though an earlier maturing installment or a late charge on an earlier installment may not have been paid in full. For purposes of this subdivision, a payment or tender of payment made within 10 days of a scheduled installment due date shall be deemed to have been made or tendered for payment of that installment.(c) A late-payment charge may be imposed pursuant to this subdivision for the payment of any balloon payment more than 10 days after the date due. The charge shall not exceed an amount equal to the maximum late charge that could have been assessed with respect to the largest single monthly installment previously due, other than the balloon payment, multiplied by the sum of one plus the number of months occurring since the late-payment charge began to accrue. For purposes of this subdivision, “month” means the period between a particular day of a calendar month and the same day of the next calendar month.(Amended by Stats. 1989, Ch. 1275, Sec. 7.)
CA Bus & Prof Code § 10242.6 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10242.6.

10242.6.  (a) The principal and accrued interest on any loan secured by a mortgage or deed of trust on real property containing only a single-family, owner-occupied dwelling may be prepaid in whole or in part at any time but only a prepayment made within seven years of the date of execution of such mortgage or deed of trust may be subject to a prepayment charge and then solely as herein set forth. An amount not exceeding 20 percent of the unpaid balance may be prepaid in any 12-month period. A prepayment charge may be imposed on any amount prepaid in any 12-month period in excess of 20 percent of the unpaid balance which charge shall not exceed an amount equal to the payment of six months’ advance interest on the amount prepaid in excess of 20 percent of the unpaid balance.(b) Notwithstanding subdivision (a), there shall be no prepayment penalty charged to a borrower under a loan subject to this section if the dwelling securing the loan has been damaged to such an extent by a natural disaster for which a state of emergency is declared by the Governor, pursuant to Chapter 7 (commencing with Section 8550) of Division 1 of Title 2 of the Government Code, that the dwelling cannot be occupied and the prepayment is causally related thereto.(c) As used in this section, “owner-occupied dwelling” means a dwelling which will be owned and occupied by a signatory to the mortgage or deed of trust secured by the dwelling within 90 days of the execution of the mortgage or deed of trust.(Amended by Stats. 1990, Ch. 663, Sec. 1.)
CA Bus & Prof Code § 10243 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10243.

10243.  If the loan is not consummated due to the failure of the borrower to disclose the outstanding liens of record or the correct current vested title which is material to the loan upon the real property as provided by subdivision (c) of Section 10241, the borrower shall be liable for the costs and expenses provided in subdivision (a) of Section 10241 that have been paid or incurred and shall be liable for the payment of one-half of the charges provided in subdivision (b) of Section 10241. An exclusive agreement authorizing or retaining a licensee to negotiate a loan secured directly or collaterally by a lien on real property shall be limited to a term of not more than 45 days.If the loan is not consummated and the broker is entitled to any charges, costs, or expenses authorized by this article, he or she may not record a lien or encumbrance against the borrower’s property except subsequent to the filing of a legal action pursuant to the Code of Civil Procedure to recover said charges, costs, or expenses. However, nothing contained herein shall prohibit a broker from recording a lien pursuant to a voluntary lien agreement in conjunction with a stipulation to dismiss an actual or proposed complaint for damages entitling the broker to those charges, costs, or expenses after written notice to the borrower that the broker proposes or has initiated a complaint for damages pursuant to the Code of Civil Procedure.(Amended by Stats. 2018, Ch. 285, Sec. 51. (AB 2884) Effective January 1, 2019.)
CA Bus & Prof Code § 10244 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10244.

10244.  Any loan made by any person and secured directly by a lien on real property, other than a note given back to the seller by the purchaser on account of the purchase price, which provides for installment payments and the term of which is less than three years, shall require substantially equal installment payments over the period of the loan with the final payment not payable until the maturity date thereof. No installment including the final installment shall be greater than twice the amount of the smallest installment.If any loan having an original maturity period of less than three (3) years is renewed or refinanced, the total amount of charges to be paid on both the original obligation and the balance of such obligation, as renewed or refinanced, shall not in the aggregate exceed the amount of charges as provided in Section 10242, and if such a loan is renewed or refinanced through the person who negotiated the original loan, the total amount of costs and expenses to be paid on both the original obligation and the renewed or refinanced obligation shall not exceed in the aggregate the amount of costs and expenses authorized in subdivision (a) of said section.The provisions of this section do not apply to a bona fide loan, secured by a first trust deed on real property, made in connection with the financing of the usual costs of the development of a residential, commercial or industrial building or buildings on the property under a written agreement providing for the disbursement of the loan funds as costs are incurred or in relation to the progress of the work and providing for title insurance insuring the priority of the security as against mechanic’s and materialmen’s liens or for the final disbursement of at least ten (10) percent of the loan funds after the expiration of the period for the filing of mechanics and materialmen’s liens.(Amended by Stats. 1963, Ch. 1978.)
CA Bus & Prof Code § 10244.1 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10244.1.

10244.1.  Notwithstanding the provisions of Section 10244, on a loan secured directly or collaterally by a lien on real property comprising an owner-occupied dwelling, for a term of six years or less, no installment, whether providing for payment of principal and interest or interest only, shall be greater than twice the amount of the smallest installment. This section does not apply to a note given back to the seller by the purchaser on account for the purchase price or any collateral loans secured solely by such a note. As used in this section, “owner-occupied dwelling” means a single dwelling unit in a condominium or cooperative or a residential building of less than three separate dwelling units, one of which will be owned and occupied by a signatory to the mortgage or deed of trust secured by such dwelling within 90 days of the execution of the mortgage or deed of trust.(Added by Stats. 1973, Ch. 641.)
CA Bus & Prof Code § 10245 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10245.

10245.  The provisions of this article, exclusive of the provisions of Sections 10240, 10240.3, 10242.5, and 10242.6, do not apply to any bona fide loan secured directly or collaterally by a first trust deed, the principal of which is thirty thousand dollars ($30,000) or more, or to any bona fide loan secured directly or collaterally by any lien junior thereto, the principal of which is twenty thousand dollars ($20,000) or more.(Amended by Stats. 2007, Ch. 301, Sec. 4. Effective January 1, 2008.)
CA Bus & Prof Code § 10246 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10246.

10246.  If any amount:(a) In excess of the charges referred to in Section 10241 and limited by Section 10242,(b) In excess of the charges permitted by Section 10242.5, or(c) Prohibited by Section 10248.1, is received, the borrower may recover, from the person who shall have taken or received the excess or prohibited amount, three times the amount of the excess or prohibited amount and the borrower shall be entitled to costs and a reasonable attorney’s fee; provided that any action for recovery must be brought within two (2) years from the date such excess or prohibited charge was received. However, if the excess or prohibited amount is the result of a bona fide error the borrower may only recover such excess or prohibited amount.(Amended by Stats. 1973, Ch. 641.)
CA Bus & Prof Code § 10247 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10247.

10247.  The provisions of this article pertaining to maximum costs and expenses, charges and interest, together with the penalties stated in this article, shall apply to any transaction involving a third party as a purported lender or any other transaction which is used as a subterfuge or means of avoiding or evading the provisions of this article.(Added by Stats. 1961, Ch. 886.)
CA Bus & Prof Code § 10248 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10248.

10248.  Every person who, for compensation to be received directly or indirectly, sells, offers to sell, purchases for resale or offers to purchase for resale, or who negotiates or arranges for the purchase, sale or exchange of a promissory note secured directly or collaterally by a lien on real property, may receive only the maximum total charges provided for in Section 10242.(Added by Stats. 1961, Ch. 886.)
CA Bus & Prof Code § 10248.1 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10248.1.

10248.1.  No real estate licensee shall charge, receive, or negotiate for the payment by the borrower of any service charge or fee other than charges and fees specified in Sections 10241, 10241.1, 10242, and 10242.5, prepayment penalties as authorized by law, beneficiary-statement, payoff-demand, extinction, release, reconveyance or other removal of record fees, and trustee’s costs and fees, and any other fees if in accordance with the Civil Code and the Code of Civil Procedure.(Amended by Stats. 1989, Ch. 1275, Sec. 9.)
CA Bus & Prof Code § 10248.2 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10248.2.

10248.2.  (a) A borrower may not waive any right or remedy under this article. This subdivision shall not be deemed to prohibit a bona fide settlement, release or compromise of any claim under this article.(b) If a loan is negotiated in violation of any section of this article, the licensee, on demand, shall return to the borrower any bonus, brokerage or commission paid or payable under subdivision (b) of Section 10242 for negotiation of such loans. In the event such demand is not satisfied within 20 days from the date of written demand, the borrower may commence an action under this subdivision and may recover actual damages or twice any bonus, brokerage, or commission paid or payable under subdivision (b) of Section 10242 for the negotiation of said loan whichever is greater, plus costs and reasonable attorney’s fees.The “date of written demand” shall mean either the date upon which the written demand is personally delivered to the licensee or the date upon which the written demand is mailed to the licensee.A licensee may not be held liable in any action brought under this section for a violation of this article if the licensee shows by a preponderance of evidence that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid any such error.If the borrower proceeds under this section he may not proceed under Section 10246 as to the same breach.(c) If a real estate licensee subject to the provisions of this article violates any provision of Section 10241.1 he shall be liable for, and pay over to the borrower, any commission or experience rating dividend attributable to the insurance written on that loan received by the licensee as a result of the sale of such insurance to the borrower in violation of Section 10241.1 in addition to any premium loss due to short rate cancellation of any insurance subject to Section 10248.1 which was purchased by the borrower.(d) No action for damages shall be maintained under this section unless brought within two years after the maturity of the loan.(e) The provisions of this article are not exclusive. The remedies provided for herein shall be in addition to any other procedures or remedies provided under law.(Added by Stats. 1973, Ch. 641.)
CA Bus & Prof Code § 10248.3 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 7 - Real Property Loans|Section 10248.3.

10248.3.  The provisions of this article shall apply only to those loans otherwise subject to this article which are made or negotiated by real estate brokers acting within the meaning of subdivision (d) of Section 10131 or subdivision (b) of Section 10240.(Amended by Stats. 1982, Ch. 886, Sec. 7.)
CA Bus & Prof Code § 10249 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 8 - Out-of-State Land Promotions|Section 10249.

10249.  (a) A person acting as a principal or agent who intends, in this state, to sell or lease or offer for sale or lease lots, parcels, or interests in a subdivision, as defined in Section 10249.1, situated outside of this state but within the United States, shall, prior to a sale, lease, or offer, register the subdivision with the commissioner. An application for registration shall be made on a form acceptable to the commissioner and include, together with a fee, a description of the offering, certification by the applicant that the subdivision is in compliance with all applicable requirements of the state or states wherein the project is located, evidence of this compliance, if applicable, and a consent to service as described in Section 10249.92.(b) The commissioner, within 10 days of receipt of an application of registration, shall provide the applicant with notice of the completion of the registration or a notice of deficiency. If the department does not provide a notice within 10 days, the registration shall be deemed complete.(Amended by Stats. 1996, Ch. 587, Sec. 8. Effective January 1, 1997.)
CA Bus & Prof Code § 10249.1 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 8 - Out-of-State Land Promotions|Section 10249.1.

10249.1.  “Subdivision,” as used in Section 10249, includes all of the following:(a) Improved or unimproved land or lands divided or proposed to be divided for the purpose of sale or lease, whether immediate or future, into five or more lots or parcels.(b) Improved or unimproved land or lands in which, for the purpose of sale or lease, whether immediate or future, five or more undivided interests are created or proposed to be created.(c) “Subdivision,” as defined in Section 11004.5, excluding “subdivision” as defined in subdivision (e) of that section.(Amended by Stats. 1995, Ch. 723, Sec. 3.5. Effective January 1, 1996.)
CA Bus & Prof Code § 10249.3 (2021)
2021 California Code|Business and Professions Code - BPC|DIVISION 4 - REAL ESTATE|PART 1 - LICENSING OF PERSONS|CHAPTER 3 - Real Estate Regulations|ARTICLE 8 - Out-of-State Land Promotions|Section 10249.3.

10249.3.  (a) The commissioner may by regulation prescribe filing fees in connection with registrations with the department pursuant to the provisions of this article that are lower than the maximum fees specified in subdivision (b) if the commissioner determines that the lower fees are sufficient to offset the costs and expenses incurred in the administration of this article. The commissioner shall hold at least one hearing each calendar year to determine if lower fees than those specified in subdivision (b) should be prescribed.(b) The filing fee for an application for a registration with the department pursuant to the provisions of this article shall not exceed the following for each subdivision or phase of the subdivision in which interests are to be offered for sale or lease:(1) An application for an original registration: One hundred dollars ($100).(2) An application for a renewal registration: One hundred dollars ($100).(3) An application for an amended registration: One hundred dollars ($100).(c) All fees collected by the Department of Real Estate under authority of this article shall be deposited into the Real Estate Fund under Chapter 6 (commencing with Section 10450) of Part 1. All fees received by the department pursuant to the provisions of this article shall be deemed earned upon receipt. No part of any fee is refundable unless the commissioner determines that it was paid as a result of mistake or inadvertence.(Amended by Stats. 2021, Ch. 431, Sec. 25. (SB 800) Effective January 1, 2022.)