Terms Used In California Codes > Health and Safety Code > Division 31 > Part 4 - BOND AND LOAN INSURANCE

• Action: includes a civil action and a special proceeding of a civil nature. See California Code of Civil Procedure 2016.020
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Amortization: Paying off a loan by regular installments.
• Annual percentage rate: The cost of credit at a yearly rate. It is calculated in a standard way, taking the average compound interest rate over the term of the loan so borrowers can compare loans. Lenders are required by law to disclose a card account's APR. ^{Source: FDIC}
• Appraisal: A determination of property value.
• Approved lending institution: means a qualified mortgage lender approved by the agency for participation in a program of loan insurance, including those successors and assigns of any such institution as are permitted by the agency. See California Health and Safety Code 51603
• area median income: means the median family income of a geographic area of the state, as annually estimated by the United States Department of Housing and Urban Development pursuant to Section 8 of the United States Housing Act of 1937. See California Health and Safety Code 50093
• Arrest: Taking physical custody of a person by lawful authority.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• board of directors: means the Board of Directors of the California Housing Finance Agency. See California Health and Safety Code 51603
• Bond reserve requirement: means an amount specified by the agency which shall, as of any particular date of computation, be at least equal to the total of both of the following:

  California Health and Safety Code 51603

• City: includes incorporated city, city and county, municipal corporation, municipality, town and incorporated town. See California Financial Code 13
• Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
• Commissioner: means the Commissioner of Financial Protection and Innovation. See California Financial Code 23001
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• conversion: means any of the conversions described in Section 4961. See California Financial Code 4960
• Conviction: A judgement of guilt against a criminal defendant.
• County: includes city and county. See California Financial Code 14
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Deferred deposit originator: means a person who offers, originates, or makes a deferred deposit transaction. See California Financial Code 23001
• Deferred deposit transaction: means a transaction whereby a person defers depositing a customer's personal check until a specific date, pursuant to a written agreement for a fee or other charge, as provided in Section 23035. See California Financial Code 23001
• Department: means the Department of Financial Protection and Innovation. See California Financial Code 23001
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Director: means "State Director of Health Services. See California Health and Safety Code 21
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Electronically stored information: means information that is stored in an electronic medium. See California Code of Civil Procedure 2016.020
• Ex officio: Literally, by virtue of one's office.
• Executive director: means the Executive Director of the California Housing Finance Agency. See California Health and Safety Code 51603
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See California Health and Safety Code 51603
• Insurance reserve requirement: means an amount established by the agency, which shall, as of any particular date of computation, be at least equal to the total of both of the following:

  California Health and Safety Code 51603

• Insured loan: means a loan insured pursuant to Chapter 4 (commencing with Section 51650). See California Health and Safety Code 51603
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensee: means any person who offers, originates, or makes a deferred deposit transaction, who arranges a deferred deposit transaction for a deferred deposit originator, who acts as an agent for a deferred deposit originator, or who assists a deferred deposit originator in the origination of a deferred deposit transaction. See California Financial Code 23001
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage guaranty insurance: means either of the following:

  California Health and Safety Code 51603

• Multifamily residential housing: means an improvement on real estate which is a building or buildings containing five or more residential units. See California Health and Safety Code 51603
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
• Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
• Person: means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a joint stock company, a trust, an unincorporated organization, a government entity, or a political subdivision of a government entity. See California Financial Code 23001
• Persons and families of low or moderate income: means "persons and families of low or moderate income" as defined in Section 50093. See California Health and Safety Code 51603
• Qualified developer: means a housing sponsor which is certified by the agency to be qualified according to experience, financial capability, and any other pertinent criteria as the fund may establish to carry out rehabilitation and new construction with loans insured pursuant to this part. See California Health and Safety Code 51603
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Single-family residential housing: means an improvement on real estate which is a building or a condominium unit or buildings containing one to four units. See California Health and Safety Code 51603
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
• State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
• Subpoena: A command to a witness to appear and give testimony.
• subscription: includes mark when the signer or subscriber can not write, such signer's or subscriber's name being written near the mark by a witness who writes his own name near the signer's or subscriber's name. See California Insurance Code 18
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8