Cal. Fin. Code § 22317.5

Current through the 2023 Legislative Session.

Section 22317.5 - Failure to disburse funds or intentionally delaying closing

On any loan secured by real property, a licensee may not do either of the following:

(a) Fail to disburse funds in accordance with a commitment to make a loan that is accepted by the applicant.

(b) Intentionally delay the closing of a loan for the sole purpose of increasing interest, costs, fees, or charges payable by the borrower.

Ca. Fin. Code § 22317.5

Added by Stats 2004 ch 940 (AB 2693),s 4, eff. 1/1/2005.