Under CA Civil Code §1632.5, a "supervised financial organization" that negotiates primarily in Spanish, Chinese, Tagalog, Vietnamese, or Korean in the course of entering into an agreement for a loan or extension of credit secured by residential real property must deliver to the other party a form summarizing the terms of the mortgage loan. "Supervised financial organization" means a state-supervised bank, savings association, credit union, or holding company, affiliate, or subsidiary thereof, or any person subject to the Industrial Loan Law, the California Finance Lenders Law, or the California Residential Mortgage Lending Act. The form must be provided to the borrower no later than three business days after receipt of the written application. If any of the loan terms summarized materially change after the translated form has been provided but prior to consummation of the loan, the supervised financial organization must provide an updated version of the translated form prior to consummation of the loan.

To facilitate compliance with this requirement, the California Department of Corporations has published a State of California translation of the U.S. Housing and Urban Development Good Faith Estimate (GFE). While these translations have not been prepared or approved by the U.S. Department of Housing and Urban Development, use of these forms complies with the requirement described above. Accordingly, DocMagic, Inc.'s Compliance Department has implemented California GFE - Spanish (CAGFES.MSC), California GFE - Tagalog (CAGFET.MSC), California GFE - Chinese (CAGFEC.MSC), California GFE - Korean (CAGFEK.MSC), and California GFE - Vietnamese (CAGFEV.MSC). These forms will be available on Forms List for California loans that are either lender- or broker- originated. Please contact DocMagic, Inc.'s Compliance Department if you have any questions.