Jurris.COM
Section 50706 Of Chapter 9. Brokerage Services For Borrowers From California Financial Code >> Division 20. >> Chapter 9.
50706
. (a) Except as provided in subdivision (b), the commissioner
has primary regulatory jurisdiction over all transactions in which a
licensed residential mortgage lender provides brokerage services,
whether the brokerage services are provided under the authority of
this chapter or under the Real Estate Law.
(b) If the commissioner has reason to believe that a residential mortgage lender or one of its employees has violated the Real Estate Law while providing brokerage services under a real estate broker's license, the commissioner shall refer the matter to the Real Estate Commissioner, who may conduct an investigation to determine if a violation of the Real Estate Law has occurred. If the Real Estate Commissioner believes a violation has occurred, the Real Estate Commissioner may commence an enforcement action under the Real Estate Law.
(b) If the commissioner has reason to believe that a residential mortgage lender or one of its employees has violated the Real Estate Law while providing brokerage services under a real estate broker's license, the commissioner shall refer the matter to the Real Estate Commissioner, who may conduct an investigation to determine if a violation of the Real Estate Law has occurred. If the Real Estate Commissioner believes a violation has occurred, the Real Estate Commissioner may commence an enforcement action under the Real Estate Law.
