Cal. Code Regs. tit. 12 § 309

Current through Register 2025 Notice Reg. No. 2, January 10, 2025

Section 309 - Credit Review and Evaluation

All applications for Cal-Vet loans shall be subject to the Department's credit review and evaluation prior to the Department's decision to approve or disapprove making a loan. The Department's review and evaluation of an applicant's creditworthiness shall consist of an analysis of the applicant's assets, income and income potential to meet the expenses of home ownership and other living costs. No single factor shall be the sole basis by which the applicant's creditworthiness is evaluated. The Department shall use the following factors to evaluate the applicant's financial status:

(a) Credit Reports as set forth in Sections 309.1 and 309.2.

(b) Consideration of Bankruptcies as set forth in Section 309.4.

(c) Analysis of Income/Expense as set forth in Sections 309.5 and 309.6.

Cal. Code Regs. Tit. 12, § 309

1. New section filed 11-12-91; operative 12-12-91 (Register 92, No. 7).

Note: Authority cited: Section 700, Military and Veterans Code. Reference: Section 987.56, Military and Veterans Code.

1. New section filed 11-12-91; operative 12-12-91 (Register 92, No. 7).