Fin. Code, § 4995 · Division 1.10. HIGHER-PRICED MORTGAGE LOANS
Fin. Code, § 4995
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
The following definitions shall apply for purposes of this division:
(a) “Higher-priced mortgage loan” has the meaning set forth in Section 1026.35 of Title 12 of the Code of Federal Regulations.
(b) “Licensed person” means a real estate broker licensed under the Real Estate Law (Part 1 (commencing with Section 10000) of Division 4 of the Business and Professions Code), a finance lender or broker licensed under the California Financing Law (Division 9 (commencing with Section 22000)), a residential mortgage lender licensed under the California Residential Mortgage Lending Act (Division 20 (commencing with Section 50000)), a commercial or industrial bank organized under the Banking Law (Division 1.1 (commencing with Section 1000)), a savings association organized under the Savings Association Law (Division 2 (commencing with Section 5000)), and a credit union organized under the California Credit Union Law (Division 5 (commencing with Section 14000)).
(c) “Mortgage broker” means a licensed person who provides mortgage brokerage services. For purposes of this division, a licensed person who makes home loans is a “mortgage broker,” and subject to the requirements of this division applicable to mortgage brokers, only with respect to transactions in which the licensed person provides mortgage brokerage services.
(d) “Mortgage brokerage services” means arranging or attempting to arrange, as exclusive agent for the borrower or as dual agent for the borrower and lender, for compensation or in expectation of compensation, paid directly or indirectly, a higher-priced mortgage loan made by an unaffiliated third party.
Notes and commentary — not statutory text
History
Amended by Stats. 2019, Ch. 143, Sec. 57. (SB 251) Effective January 1, 2020.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=4995.
- Text hash
- sha256 1e7002a7bab081bc75fa2f204d51d1623ab8eeab5976615bba187c380b2c3dbf
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business and Professions Code
Financial Code
- Fin. Code, div. 1.1BANKINGPrinted as Division 1.1 (commencing with Section 1000)
- Fin. Code, div. 2SAVINGS ASSOCIATION LAWPrinted as Division 2 (commencing with Section 5000)
- Fin. Code, div. 5CREDIT UNIONSPrinted as Division 5 (commencing with Section 14000)
- Fin. Code, div. 9CALIFORNIA FINANCING LAWPrinted as Division 9 (commencing with Section 22000)
- Fin. Code, div. 20CALIFORNIA RESIDENTIAL MORTGAGE LENDING ACTPrinted as Division 20 (commencing with Section 50000)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.