California Civil Code § 3273.1

For purposes of this title: (a) (1) “Borrower” means any of the following: (A) A natural person who is a mortgagor or trustor or a confirmed successor in interest, as defined in Section 1024.31 of Title 12 of the Code of Federal Regulations. (B) An entity other than a natural person only if the secured property contains no more than four dwelling units and is currently occupied by one or more residential tenants. (2) “Borrower” shall not include an individual who has surrendered the secured property as evidenced by either a letter confirming the surrender or delivery of the keys to the property to the mortgagee, trustee, beneficiary, or authorized agent. (3) Unless the property securing the mortgage contains one or more deed-restricted affordable housing units or one or more affordable housing units subject to a regulatory restriction limiting rental rates that is contained in an agreement with a government agency, the following mortgagors shall not be considered a “borrower”: (A) A real estate investment trust, as defined in Section 856 of the Internal Revenue Code. (B) A corporation. (C) A limited liability company in which at least one member is a corporation. (4) “Borrower” shall also mean a person who holds a power of attorney for a borrower described in paragraph (1). (b) “Effective time period” means the time period between the operational date of this title and December 1, 2021. (c) (1) “Mortgage servicer” or “lienholder” means a person or entity who directly services a loan or who is responsible for interacting with the borrower, managing the loan account on a daily basis, including collecting and crediting periodic loan payments, managing any escrow account, or enforcing the note and security instrument, either as the current owner of the promissory note or as the current owner’s authorized agent. (2) “Mortgage servicer” or “lienholder” also means a subservicing agent to a master servicer by contract. (3) “Mortgage servicer” shall not include a trustee, or a trustee’s authorized agent, acting under a power of sale pursuant to a deed of trust.

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