California Codes, Civil Code - CIV, Division 3 — Obligations, Part 4 — Obligations Arising from Particular Transactions, Title 14 — Lien, Chapter 2 — Mortgage, Article 2 — Mortgage of Real Property, Section 2953

Any express agreement made or entered into by a borrower at the time of or in connection with the making of or renewing of any loan secured by a deed of trust, mortgage or other instrument creating a lien on real property, whereby the borrower agrees to waive the rights, or privileges conferred upon the borrower by Sections 2924, 2924b, or 2924c of the Civil Code or by Sections 580a or 726 of the Code of Civil Procedure, shall be void and of no effect. The provisions of this section shall not apply to any deed of trust, mortgage, or other liens given to secure the payment of bonds or other evidences of indebtedness authorized or permitted to be issued by the Commissioner of Financial Protection and Innovation, or made by a public utility subject to the provisions of the Public Utilities Act.

Notes

Prohibits a borrower, when making or renewing a real-property-secured loan, from validly agreeing to waive specified foreclosure and deficiency-related rights; any such agreement is void. The prohibition does not apply to deeds of trust, mortgages, or other liens securing bonds or indebtedness authorized or permitted by the Commissioner of Financial Protection and Innovation or made by a regulated public utility.

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