On any loan secured by real property, a licensee may not do either of the following:
(a) Fail to disburse funds in accordance with a commitment to make a loan that is accepted by the applicant.
(b) Intentionally delay the closing of a loan for the sole purpose of increasing interest, costs, fees, or charges payable by the borrower.
(Added by Stats. 2004, Ch. 940, Sec. 4. Effective January 1, 2005.)
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