In order to ensure that § 10240.3 of the Business and Professions Code and Sections 327, 22171, and 50333 of the Financial Code are applied consistently to all California entities engaged in the brokering, originating, servicing, underwriting, and issuance of nontraditional mortgage products, the secretary shall ensure that the Director of Consumer Affairs or the Commissioner of Real Estate and the Commissioner of Financial Protection and Innovation coordinate their policymaking and rulemaking efforts.

(Amended by Stats. 2022, Ch. 452, Sec. 185. (SB 1498) Effective January 1, 2023.)

Terms Used In California Government Code 13984

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • secretary: refer to the Transportation Agency and the Secretary of Transportation, respectively, unless the context otherwise requires. See California Government Code 13976
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