SECTIONS 27000-27004 - California Statutes

FINANCIAL CODE

SECTION 27000-27004

27000. Insurance companies, personal finance companies, mortgage
companies, mortgage insurance companies, building and loan
associations, trust companies, fiduciaries, or fiduciary institutions
may invest in, or purchase such classes of first liens as are
commonly given to secure advances on, or the unpaid purchase price of
real estate, including any part of an issue of notes or bonds
secured by such first liens, which have been accepted for insurance
by the Federal Housing Administrator. The investment or purchase may
be made with their funds or the money in their custody or possesion,
including but not being restricted to, all trust funds or funds the
investment of which is regulated by law.

27001. Insurance companies, personal finance companies, mortgage
companies, mortgage insurance companies, building and loan
associations, trust companies, fiduciaries, fiduciary institutions,
or public or private agencies may invest in, or purchase obligations
of national mortgage associations. The investment or purchase may be
made with their funds or the money in their custody or possession,
including but not being restricted to, all trust funds, or funds the
investment of which is regulated by law.

27002. Insurance companies, personal finance companies, mortgage
companies, or mortgage insurance companies may make, invest in, or
purchase loans or advances of credit insured by the Federal Housing
Administrator.

27003. Insurance companies, personal finance companies, mortgage
companies, mortgage insurance companies, building and loan
associations, or trust companies may make such loans secured by real
property or leasehold, as the Federal Housing Administrator insures,
or makes a commitment to insure, and may obtain such insurance.

27004. No law of this State, prescribing the nature, amount or form
of security or requiring security upon which loans or investments
may be made, or prescribing or limiting interest rates upon loans or
advances of credit or prescribing or limiting the period for which
loans or investments may be made, applies to loans or investments
made pursuant to this chapter.