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HomeFinancial CodeDiv. 20Ch. 5§ 50303 Mortgage Loans For Employees

§ 50303 Mortgage Loans For Employees

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 50303 Mortgage Loans For Employees

Key Takeaways

  • •People who work at the Department of Financial Protection and Innovation can still get a home loan from a licensed lender.
  • •They have to follow the same rules as everyone else when getting a home loan.
  • •The rules might have some extra steps because of their job.

Example

A person who works at the Department of Financial Protection and Innovation wants to buy a house.

They can still get a loan from a bank that is allowed to give home loans, but they have to follow the same rules as everyone else. They might also have to follow some extra rules because of their job.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 50303 Mortgage Loans For Employees

Neither the commissioner nor any employee of the Department of Financial Protection and Innovation shall be precluded from obtaining a residential mortgage loan from a lender licensed under this division, subject to the rules that may be adopted hereunder or pursuant to other proper authority. (Amended by Stats. 2022, Ch. 452, Sec. 160. (SB 1498) Effective January 1, 2023.)

Last verified: January 23, 2026

Key Terms

licensemortgagecommissionemployeefinancial protectioninnovationauthority

Related Statutes

  • § 50307.1 Mortgage Servicing Reports
  • § 50316.5 Electronic Licensing Document Validity
  • § 50329 Mortgage Lender Record Control
  • § 100025 Debt Collection Advisory Committee
  • § 4928 Bank Conversion Certification Authority

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 50303.
View Official Source