Notwithstanding any other provision of the law, an association may make a loan secured by an assignment of a loan or loans to the extent that it could, under applicable law and regulations, make or purchase the underlying assigned loan or loans.
Cal. Fin. Code § 7506
Real Estate Loans
Known as the Savings Association Law
The act spans §§ 5000–10009 (387 sections).
Added by Stats. 1983, Ch. 1176, Sec. 9.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.