California Code of Regulations › Title 4 - Business Regulations › Division 13 - California Alternative Energy and Advanced Transportation Financing Authority › Article 5 - Gogreen Home Energy Financing Program › Section 10091.10 - Claims

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) A PFI, PFL, or Successor Servicer shall be authorized to make a claim for reimbursement for up to ninety percent (90%) of a loss from the outstanding Claim-Eligible Principal Amount prior to the liquidation of collateral or realization on personal or other financial guarantees or from other sources. The outstanding Claim-Eligible Principal Amount does not include unpaid interest, unpaid late fees, or other unpaid charges.
(b) A PFI, PFL, or Successor Servicer shall notify the Authority within sixty (60) calendar days after charging off an Enrolled Loan and include the date of the charge-off and the amount of the outstanding Total Loan Principal Amount that was charged-off.
(c) To make a claim, the PFI, PFL, or Successor Servicer shall submit a claim application to the Authority in a format approved by the Authority within one hundred eighty (180) calendar days of the date of charge-off of an Enrolled Loan. To make a claim, a PFI, PFL, or Successor Servicer must be in compliance with the Program requirements, including the reporting requirements in Section 10091.12. The claim application must include the following information:
(1) Name of the PFI, PFL, or Successor Servicer.
(2) Name, business telephone number and e-mail address of contact person.
(3) Lender internal identification number, as described in Section 10091.9(c).
(4) CHEEF Loan ID of the Enrolled Loan.
(5) An indication as to whether the Enrolled Loan is enrolled in the Program.
(6) Original Claim-Eligible Principal Amount.
(7) Original Total Loan Principal Amount.
(8) Outstanding Claim-Eligible Principal Amount at the time of charge-off.
(9) Outstanding Total Principal Amount.
(10) Charge-off amount.
(11) Amount recovered.
(12) Claim amount.
(13) Beneficiary of the claim payment, if an entity other than the PFI, PFL, or Successor Servicer.
(14) Amount of any inchoate losses.
(15) Charge-off date.
(16) If the Enrolled Loan is secured, a statement of whether the PFI, PFL or Successor Servicer has commenced enforcement proceedings.
(17) Whether any acceleration notices have been sent.
(18) If a PFI, PFL or Successor Servicer files a claim while one or more claims are already pending the Authority's review, a statement of the priority of payment of the claim compared to the other claims in the event the balance of the Loss Reserve Account is insufficient to pay all the claims.
(19) Certification that the notice was filed with the Authority as required by Section 10091.10(b), and certification that the charge-off was made in a manner consistent with the PFI, PFL or Successor Servicer's usual methods for taking action on loans that are not Enrolled Loans under the Program.
(20) The claim information shall be executed by an authorized signatory, who can bind the PFI, PFL or Successor Servicer, and shall include the signatory's printed name, title, and date.
(21) Certification that the PFI, PFL or Successor Servicer will comply with reporting requirements on recoveries, as laid out in Section 10091.10(d)-(e).