§ 50325 License Revocation For Noncompliance

Financial Code·California

AI SummaryVerified

Key Takeaways

•If a mortgage company breaks the rules, the boss (commissioner) can take away their license right away.
•The company has 10 days to get a court order to stop the license from being taken away.
•If they don’t get the court order in time, they lose their license for good.

Example

A mortgage company ignores an order to stop charging hidden fees to customers.

The commissioner can immediately take away their license. If the company doesn’t get a court order within 10 days to stop this, they can’t do business anymore.

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

Official Source

View on CA.gov

§ 50325 License Revocation For Noncompliance

The commissioner may immediately revoke the residential mortgage lender’s, residential mortgage loan servicer’s, or mortgage loan originator’s license if the licensee fails to comply with any order issued under Section 50318, 50319, 50321, 50322, or 50503. The commissioner shall not revoke the license if, within 10 days from the effective date of the revocation order, the licensee secures a court order restraining the enforcement of the commissioner’s revocation order. (Amended by Stats. 2009, Ch. 160, Sec. 76. (SB 36) Effective October 11, 2009.)

Last verified: January 23, 2026

Key Terms

enforcement commission mortgage license revocation the california effective october

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 50325.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References