Cal. Code Regs. Tit. 10, § 1620.19 - Annual Report Data
(a) A
program administrator shall by March 15 of each year report the following
information for activity from the prior calendar year:
(1) The aggregate information required under
Streets and Highways Code section
5954.
(2) The following additional information:
(A) The number of tax sales or foreclosures
that were reported to the program administrator during the prior calendar year,
on property subject to a PACE assessment initiated by the public agency, a
program administrator, or any other person. Include the year of the assessment
contract, the original amount of the assessment contract, the zip code, the
amount owed upon the tax sale or foreclosure, the purchase price paid for the
property at sale or auction, and the amount recovered by the program
administrator.
(B) The aggregate
average and median market value of property that is encumbered by
mortgage-related and PACE assessments, at the time of the assessment contract,
for all assessment contracts entered into during the prior calendar year on
residential property.
(C) The
number of PACE solicitors, and the number of PACE solicitor agents, enrolled by
the program administrator as of December 31 of the prior calendar
year.
(D)
1. For assessment contracts originated by a
program administrator during the prior calendar year, the total number of
assessment contracts with interest rates (i) up to 14.999 percent per year;
(ii) at or above 15 percent but at or below 19.999 percent per year; (iii) at
or above 20 percent but at or below 24.999 percent per year; (iv) at or above
25 percent but at or below 29.999 percent per year; (v) at or above 30 percent
but at or below 34.999 percent per year; (vi) at or above 35 percent but at or
below 39.999 percent per year; (vii) at or above 40 percent but at or below
69.999 percent per year; (viii) at or above 70 percent but at or below 99.999
per year; and (iv) at or above 100 percent per year.
2. For assessment contracts originated by a
program administrator during the prior calendar year, the aggregate total fees
and other charges assessed to the various property owners that were not
included in the interest rate.
3.
For assessment contracts originated by a program administrator during the prior
calendar year, the total number of assessment contracts where the PACE
solicitor paid the program administrator a portion of the assessment contract
as a buydown fee, a contractor payment, seller's points, or as any other type
of payment; the aggregate amount of the payments; and the average and median
amount of the payments.
(E) The average and median term of the
assessment contracts entered into in the prior year, in years.
(F)
1. The
number of PACE assessments that were funded and recorded under the emergency
procedures in Financial Code section
22687,
subdivision (e) the prior year, by zip code, and the number of HVAC systems,
boilers, or other temperature regulation systems funded not in the case of
emergency or immediate necessity, by zip code.
2. The number of PACE assessments that were
funded and recorded under the emergency procedures in Financial Code section
22687,
subdivision (e) the prior year by type of improvement, and the average cost of
each type of improvement.
(G) For all PACE assessments 12 months or
more delinquent on December 31 of the prior year, provide the following
information:
1. The number of PACE assessments
above the 97 percent cap on total PACE and mortgage-related debt at the time
the assessment contract was entered into; the number of PACE assessments at or
below the 97 percent cap on total PACE and mortgage-related debt, but above 87
percent, at the time the assessment contract was entered into; and the number
of PACE assessments where the PACE and mortgage related debt of the property
owner was below 87 percent of the value of the property at the time the
assessment contract was entered.
2.
The number of PACE assessments for which an automated valuation model was used
to determine the market value of the property subject to the PACE assessment;
the number of PACE assessments for which an appraisal was conducted to
determine the market value of the property subject to the PACE assessment; and
the number of PACE assessments where a property valuation was not obtained, if
any.
3. The number of PACE
assessments involving a case of emergency or immediate necessity under
Financial Code section
22687,
subdivision (e), where the program administrator did not determine and consider
the current and reasonably expected income or assets of the property owner
prior in accordance with Financial Code section
22687,
subdivision (b).
4. The average and
median residual income of the property owners upon entering into the assessment
contract, at the time the assessment contracts were entered into.
(H) Updates of information
required to be disclosed under section
1409
of these rules on officers, directors, managing members, or other key
personnel, and information on the gross income of the program administrator for
purposes of the annual assessment under Financial Code section
22107.
(I) The number of PACE assessments canceled
within three or five days, as applicable, as provided under Streets and
Highways Code section
5898.16.
Notes
Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22107, 22159, 22687 and 22692, Financial Code; and Section 5898.16, Streets and Highways Code.
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