Section 22159.5 Of Article 4. Regulations From California Financial Code >> Division 9. >> Chapter 1. >> Article 4.
22159.5
. (a) The commissioner may, as he or she deems necessary,
require licensees to provide reports concerning their residential
mortgage loan servicing activities, including, but not limited to,
information similar to that collected in connection with the Mortgage
Servicers Survey, first published by the Department of Business
Oversight in December 2007. The commissioner is additionally
authorized to seek and accept information provided on a voluntary
basis by residential mortgage loan servicers not subject to the
commissioner's jurisdiction. The commissioner shall post only
aggregated survey results on the department's Internet Web site, and
shall note the number of loan servicers submitting data included in
the aggregated totals and the estimated percentage of outstanding
mortgage loans to Californians that are serviced by these loan
servicers, to the extent information on the number of outstanding
loans is available from a reliable source. Nothing in this section is
intended to reduce or change the commissioner's authority to request
and demand reports under Sections 22150 and 22159.
(b) For purposes of this section, "mortgage loan servicing
activity" means receiving more than three installment payments of
principal, interest, or other amounts placed in escrow, pursuant to
the terms of a mortgage loan, and performing services relating to
that receipt or the enforcement of its receipt, on behalf of the
holder of the note evidencing that loan.