12 CCR s 309

Cal. Admin. Code tit. 12, s 309

CALIFORNIA CODE OF REGULATIONS
TITLE 12. MILITARY AND VETERANS AFFAIRS
DIVISION 2. DEPARTMENT OF VETERANS' AFFAIRS
CHAPTER 2. VETERANS' FARM AND HOME PURCHASES
SUBCHAPTER 1. ELIGIBILITY AND QUALIFICATIONS
This database is current through 12/22/06, Register 2006, No. 51.
s 309. Credit Review and Evaluation.

All applications for Cal-Vet loans shall be subject to the Department's
credit review and evaluation prior to the Department's decision to approve
or disapprove making a loan. The Department's review and evaluation of an
applicant's creditworthiness shall consist of an analysis of the
applicant's assets, income and income potential to meet the expenses of
home ownership and other living costs. No single factor shall be the sole
basis by which the applicant's creditworthiness is evaluated. The
Department shall use the following factors to evaluate the applicant's
financial status:
(a) Credit Reports as set forth in Sections 309.1 and 309.2.

(b) Consideration of Bankruptcies as set forth in Section 309.4.

(c) Analysis of Income/Expense as set forth in Sections 309.5 and 309.6.

Note: Authority cited: Section 700, Military and Veterans Code.
Reference: Section 987.56, Military and Veterans Code.

HISTORY

1. New section filed 11-12-91; operative 12-12-91 (Register 92, No. 7).

12 CCR s 309, 12 CA ADC s 309
1CAC

12 CA ADC s 309

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