Statute · California Financial Code
Cal. Fin. Code § 4995.1 — HIGHER-PRICED MORTGAGE LOANS
Cal. Fin. Code § 4995.1
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2010-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Notwithstanding any other provision of law, the maximum amount of a prepayment penalty that may be imposed by a licensed person in connection with a higher-priced mortgage loan shall not exceed 2 percent of the principal balance prepaid, for prepayment of the loan during the first 12 months…
Citator
Cal. Fin. Code § 4995.1 — HIGHER-PRICED MORTGAGE LOANS is in force in the current edition of the Code, and nothing recorded condemns it.
Notwithstanding any other provision of law, the maximum amount of a prepayment penalty that may be imposed by a licensed person in connection with a higher-priced mortgage loan shall not exceed 2 percent of the principal balance prepaid, for prepayment of the loan during the first 12 months following loan consummation or 1 percent of the principal balance prepaid, for prepayment of the loan during the second 12 months following loan consummation.