Cal. Code Regs. tit. 10 § 107.101

Current through Register 2024 Notice Reg. No. 52, December 27, 2024

Section 107.101 - Loans Modified

Each Association shall keep a record of loans that were modified. Information regarding each loan appearing in the record shall consist of, but not be limited to, the following:

(a) Loan number

(b) Date original loan entered on books

(c) Name of borrower

(d) Unpaid balance of loan before and after modification

(e) Latest appraisal showing the current market value of the security property

(f) Type of improvement

(g) Loan to value ratio after modification

(h) Nature of modifications

Loans listed under the subaccounts of Account Nos. 120 and 122 that have any modifications, additional loans or secured advances, or other action taken by any association pursuant to Sections 6701(a)(i), 6701(a)(iii), and 6701(b), which cause the loans to exceed otherwise applicable loan limits, shall be transferred to Subaccount Nos. 120-9 and 122-8. When the terms of these loans are conforming to normal loan limits, the loans shall be transferred back to the original subaccounts.

Cal. Code Regs. Tit. 10, § 107.101

1. Change without regulatory effect renumbering former Section 118.2 to Section 107.101 (Register 87, No. 14). For prior history, see Register 82, No. 49.

Note: Authority cited: Section 5255, Financial Code. Reference Sections 8701, 8703 and 8705, Financial Code.

1. Change without regulatory effect renumbering former Section 118.2 to Section 107.101 (Register 87, No. 14). For prior history, see Register 82, No. 49.