Department of Corporations’ Model Form: California Per Diem Interest Disclosure

This is not legal advice for your situation*

Pursuant to the request of lenders who are licensed by the California Department of Corporations (DOC), DocMagic, Inc. is now making available a model form prepared by the DOC that complies with California Civil Code Section 2948.5 regarding the disclosure to the borrower of per diem interest charged on residential mortgage loans. The form name is CAPDID.DOC. However, note that DocMagic's Per Diem Interest Disclosure (CAPDID3.MSC) will continue to serve as the default disclosure in California closing packages. Customers desiring the DOC's model form will need to contact Customer Service to specifically request replacement of DocMagic's Per Diem Interest Disclosure with the model form.

*This article is distributed to provide general information about the subject matter covered and should not be utilized as a substitute for professional advice in specific situations. If you require such advice, please consult with your own professional advisers.