Cal. Code Regs. tit. 10 § 40.618

Current through Register 2024 Notice Reg. No. 43, October 25, 2024

Section 40.618 - Loan Secured by Assignment of Obligation Secured by Real Property

The market value of the collateral obligation of such loan must be at least 115% of the principal amount owing on the loan. The market value of the underlying real property may be considered in determining the market value of the collateral obligation.

Cal. Code Regs. Tit. 10, § 40.618

1. Change without regulatory effect renumbering former section 1176 to new section 40.618 and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18207, Financial Code.

1. Change without regulatory effect renumbering former section 1176 to new section 40.618 and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).