California Finance Lenders License Lawyer
California CFL License Lawyer
California Lending License Lawyer
California Finance Broker License Lawyer
California Lending License Defense Lawyer
Alan Abergel, Esq. is an attorney licensed by both the State Bar of Texas and the State Bar of California.
We also provide Texas Regulated Lender licensing and compliance services
The California Financing Law requires the licensing and regulation of finance lenders and brokers making and brokering consumer and commercial loans, except as specified; prohibits misrepresentations, fraudulent and deceptive acts in connection with making and brokering of loans; and provides administrative, civil (injunction and ancillary relief) and criminal remedies for violations of the law. A finance lender is defined in the law as “any person who is engaged in the business of making consumer loans or making commercial loans.”
A finance lenders license provides the licensee with an exemption from the usury provision of the California Constitution. There are a number of “non-loan” transactions, such as bona fide leases, automobile sales finance contracts (Rees-Levering Motor Vehicle Sales and Finance Act) and retail installment sales (Unruh Act), that are not subject to the provisions of the California Financing Law. In addition to requiring a license for certain lending activity, the California Financing Law requires a license for certain brokering activity.
A “broker” is defined in the law as “any person engaged in the business of negotiating or performing any act as broker in connection with loans made by a finance lender.” A broker license authorizes brokering of loans to licensed finance lenders; it does not authorize brokering of loans to those who are not licensed finance lenders.
LEGAL SERVICES WE PROVIDE:
- Assistance with obtaining a California Finance Lenders License
- Assistance with obtaining a California Finance BROKER License
- Assistance in obtaining a California PACE program administrator license
- NMLS registration and compliance for lenders, brokers, MLOs, and other financial services.
- Advice concerning compliance with California Finance Lenders Law
- Representation before the DFPI.
- Mortgage lending law
- Representation of private & hard money lenders and carryback sellers.
- Advice concerning State and Federal Lending Laws
- Drafting of loan documents
- Drafting the newly required California Commercial Financing Disclosures for California accounts receivable purchase transactions, including factoring, asset-based lending transaction, commercial loan, commercial open-end credit plan, or lease financing transaction intended by the recipient for use primarily for other than personal, family, or household purposes.
- Unsecured & secured lending laws
- Representation before CFPB.
- Representation in DFPI and DRE administrative hearings and proceedings, including Accusations, Statements of Issues, Desist and Refrain Orders, and Citations.
- Representation in investigations by DFPI and DRE.