Cal. Code Regs. tit. 10, § 1950.205.1
(b) A residential mortgage lender, mortgage servicer, or residential mortgage lender and servicer that employs one or more mortgage loan originators shall post a surety bond based on the dollar amount of residential mortgage loans originated or serviced, or both, by that licensee and its mortgage loan originator employees in the preceding year, as follows:
Aggregate Loans
Bond Amount
0 - $50,000,000
$ 50,000
$50,000,001 - $500,000,000
$100,000
Over $500,000,001
$200,000
Every licensee shall maintain a surety bond in accordance with Section 50205 of the Financial Code as follows:
Note: Authority cited: Section 50304, Financial Code. Reference: Section 50205, Financial Code.
1. New section filed 4-1-2010 as an emergency; operative 7-31-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.
2. Editorial correction of History 1 (Register 2010, No. 40).
3. New section refiled 9-28-2010 as an emergency, including repealer of subsection (d); operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
4. New section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
5. Certificate of Compliance as to 12-23-2010 order transmitted to OAL 3-14-2011 and filed 4-25-2011 (Register 2011, No. 17).