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Chapter 1. Findings And Declarations Of Purpose And Policy of California Health And Safety Code >> Division 24. >> Part 6. >> Chapter 1.
This part shall be known and may be cited as the Holden Act.
The Legislature finds and declares:
(a) The subject of housing is of vital statewide importance to the health, safety, and welfare of the residents of the state.
(b) A healthy housing market, where residents of this state have a choice of housing opportunities and where the housing consumer may effectually choose within a free market place, is necessary to achieve a healthy state economy.
(c) The equities that California residents accumulate in family homes must be protected and conserved.
(d) The Legislature has the responsibility to direct the discontinuance of injurious practices.
(e) With respect to certain geographic areas, financial institutions have sometimes denied financial assistance or approved assistance on terms less favorable than are usually offered in other geographic areas, regardless of the creditworthiness of the applicant or the condition of the real-property security offered, and this practice has the following effects:
(1) Contributes to the decline of available family housing in such areas and is likely to continue to do so.
(2) Limits the choice of housing opportunities and inhibits the operation of a healthy housing market in such areas.
(3) Leads to the abandonment of such areas.
(4) Adversely affects the health, welfare, and safety of the residents of this state.
(5) Undermines the value of the equity of current owners of property in such areas.
(6) Inhibits the granting of amortized loans.
(7) Perpetuates racially and economically segregated neighborhoods and geographic areas.
(f) The practice of denying mortgage loans or adversely varying the terms of such loans because of conditions, characteristics, or trends in a neighborhood or geographic area that are unrelated to the creditworthiness of the applicant or the value of the real property security offered is against public policy.
(a) The subject of housing is of vital statewide importance to the health, safety, and welfare of the residents of the state.
(b) A healthy housing market, where residents of this state have a choice of housing opportunities and where the housing consumer may effectually choose within a free market place, is necessary to achieve a healthy state economy.
(c) The equities that California residents accumulate in family homes must be protected and conserved.
(d) The Legislature has the responsibility to direct the discontinuance of injurious practices.
(e) With respect to certain geographic areas, financial institutions have sometimes denied financial assistance or approved assistance on terms less favorable than are usually offered in other geographic areas, regardless of the creditworthiness of the applicant or the condition of the real-property security offered, and this practice has the following effects:
(1) Contributes to the decline of available family housing in such areas and is likely to continue to do so.
(2) Limits the choice of housing opportunities and inhibits the operation of a healthy housing market in such areas.
(3) Leads to the abandonment of such areas.
(4) Adversely affects the health, welfare, and safety of the residents of this state.
(5) Undermines the value of the equity of current owners of property in such areas.
(6) Inhibits the granting of amortized loans.
(7) Perpetuates racially and economically segregated neighborhoods and geographic areas.
(f) The practice of denying mortgage loans or adversely varying the terms of such loans because of conditions, characteristics, or trends in a neighborhood or geographic area that are unrelated to the creditworthiness of the applicant or the value of the real property security offered is against public policy.
The purposes of this part include the following:
(a) To prevent discrimination in the provision of financial assistance for financing or refinancing the purchase, construction, rehabilitation, or improvement of housing accommodations because of conditions, characteristics, or trends in the neighborhood or geographic area surrounding the security property.
(b) To encourage increased lending in neighborhoods or geographic areas in which conventional residential mortgage financing has been unavailable.
(c) To increase the availability of housing accommodations to creditworthy persons.
(d) To ensure the supply of decent, safe housing.
(e) To prevent the abandonment and decay of neighborhoods and geographic areas.
(a) To prevent discrimination in the provision of financial assistance for financing or refinancing the purchase, construction, rehabilitation, or improvement of housing accommodations because of conditions, characteristics, or trends in the neighborhood or geographic area surrounding the security property.
(b) To encourage increased lending in neighborhoods or geographic areas in which conventional residential mortgage financing has been unavailable.
(c) To increase the availability of housing accommodations to creditworthy persons.
(d) To ensure the supply of decent, safe housing.
(e) To prevent the abandonment and decay of neighborhoods and geographic areas.
This part shall be deemed an exercise of the police power of
the state for the protection of the health, welfare, and peace of
the people of this state.
