California § 51527. 51527. (Added by Stats. 2022, Ch. 70, Sec. 43.)

California Statutes

§ 51527. — 51527. (Added by Stats. 2022, Ch. 70, Sec. 43.)

California § 51527.

JurisdictionCalifornia

Code HSCHealth and Safety Code - HSC

Div. 31.DIVISION 31. HOUSING AND HOME FINANCE

Part 3.PART 3. CALIFORNIA HOUSING FINANCE AGENCY

Ch. 12.CHAPTER 12. California Dream for All Program

This text of California § 51527. (51527. (Added by Stats. 2022, Ch. 70, Sec. 43.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Health and Safety Code - HSC Code § 51527. (2026).

Text

(a)

(1)The agency shall develop a borrower education program and disclosure statement designed to provide a borrower with sufficient information to understand the terms of a shared appreciation loan provided pursuant to this chapter.

(2)The disclosure statement required by this subdivision shall include the specific terms of the shared appreciation loan offered to the borrower.

(b)

(1)Before making a shared appreciation loan, a participating lender shall provide a borrower with information to access the borrower education program and disclosure statement developed pursuant to subdivision (a).

(2)A participating lender shall require the borrower to acknowledge the receipt of the disclosure statement developed pursuant to subdivision (a) before closing the loan.

(c)

(1)The agency may us

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(a)
(1)
The agency shall develop a borrower education program and disclosure statement designed to provide a borrower with sufficient information to understand the terms of a shared appreciation loan provided pursuant to this chapter.
(2)
The disclosure statement required by this subdivision shall include the specific terms of the shared appreciation loan offered to the borrower.
(b)
(1)
Before making a shared appreciation loan, a participating lender shall provide a borrower with information to access the borrower education program and disclosure statement developed pursuant to subdivision (a).
(2)
A participating lender shall require the borrower to acknowledge the receipt of the disclosure statement developed pursuant to subdivision (a) before closing the loan.
(c)
(1)
The agency may use program funds to design and implement an ongoing borrower outreach program that provides regular disclosures or loan counseling services to a borrower while the borrower has a shared appreciation loan outstanding.
(2)
The purpose of the ongoing borrower outreach program authorized by this subdivision shall be to encourage a borrower to satisfy the shared appreciation loan in a manner that is in the best interest of the borrower.
(d)
(1)
The agency may meet its obligations under this section by partnering or
contracting with housing counselors, community organizations with expertise in housing and mortgage finance, or any other person with expertise in housing or mortgage finance.
(2)
In exercising its authority under this subdivision, the agency shall take reasonable efforts to ensure that any person or organization that assists the agency in meeting the agency’s obligations under this section is free of any conflicts of interests.

Legislative History

Added by Stats. 2022, Ch. 70, Sec. 43. (SB 197) Effective June 30, 2022.

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California § 51527., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/HSC/51527..