The market value of the collateral obligation of such loan must be at least 115% of the principal amount owing on the loan. The market value of the underlying real property may be considered in determining the market value of the collateral obligation.

Note: Authority cited: Section 18347, Financial Code. Reference: Section 18207, Financial Code.

History

1. Change without regulatory effect renumbering former section 1176 to new section 40.618 and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).