California § 327 - The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage
Full text of California Public Contract Code - PCC § 327 — The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage, with citation guidance and answers to common questions.
§ 327. The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage
(a) The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage Product Risks issued in September 2006 and the Statement on Subprime Mortgage Lending issued in June 2007 by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration to state-regulated financial institutions, including, but not limited to, privately insured, state-chartered credit unions. (b) The commissioner may issue emergency and final regulations to clarify the application of this section as soon as possible. (c) A bank or credit union to which the commissioner applies the documents described in subdivision (a) shall adopt and adhere to policies and procedures that are reasonably intended to achieve the objectives set forth in those documents.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 327
What does Public Contract Code - PCC § 327 cover?
Section 327 ("The commissioner shall apply the Interagency Guidance on Nontraditional Mortgage") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 327?
A common citation format is "Public Contract Code - PCC § 327" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 327 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.