Cal. Code Regs. Tit. 10, § 2843 - Restrictions on Chargeable Costs and Expenses

Current through Register 2021 Notice Reg. No. 52, December 24, 2021

No "costs and expenses of making the loan" referred to in Section 10241(a) which have not been paid, incurred or reasonably earned by the loan broker shall be charged to the borrower. No fee may be charged to a borrower as part of the costs and expenses of making the loan which exceeds the fee customarily charged for the same or comparable service in the community where the service was rendered.

If the escrow depositary for a loan transaction is a licensed escrow agent, a title insurance company, a bank or trust company or a savings and loan association, and a fee is charged to the borrower by the escrow depositary for the escrow function, no additional fee may be charged by the broker, a salesperson licensed to the broker or any entity controlled by the broker for services related to the conduct of an escrow.

Notes

Cal. Code Regs. Tit. 10, § 2843

Note: Additional authority cited: Section 10248.9, Business and Professions Code. Reference: Sections 10241 and 10241.1, Business and Professions Code.

1. Amendment filed 11-19-69; designated effective 1-2-70 (Register 69, No. 47). For prior history, see Register 61, No. 15.
2. Amendment filed 12-11-73 as an emergency; designated effective 1-1-74. Certificate of Compliance included (Register 73, No. 50).
3. Amendment of section and Note filed 11-13-96; operative 11-13-96 pursuant to Government Code section 11343.4(d) (Register 96, No. 46).

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