Section 1950.204.2 - Charges to Seller(a) Except for FHA-insured or VA-guaranteed residential mortgage loans, no licensee shall: (1) Impose any charges upon a seller under a borrower's purchase contract; or(2) Impose any charges on the seller, pursuant to another agreement or loan commitment, unless specifically authorized in writing by that seller to do so.(b) For purposes of this Section, "seller" refers to the vendor of real estate which is the subject of the residential mortgage loan.Cal. Code Regs. Tit. 10, § 1950.204.2
1. New section filed 11-25-96; operative 12-25-96 (Register 96, No. 48). Note: Authority cited: Section 50304, Financial Code. Reference: Sections 50204, Financial Code.
1. New section filed 11-25-96; operative 12-25-96 (Register 96, No. 48).