DFPI Issues Report On California Finance Lenders
As 2021 begins drawing to close, the Department of Financial Protection & Innovation has released its 2020 Annual Report of Finance Lenders, Brokers, and PACE Administrators Licensed Under the California Financing Law. According to the report, the number of licensees increased from 2019 to 2020, but the number of commercial loans originated in 2020 decreased by 21.99% to 706,228 from 905,341 in 2019. The total principal amount of commercial loans decreased by 13.9% over the same period, to $160.4 billion from $186.4 billion. Nearly one-half (46.14%) of commercial loans by dollar amount were secured by real property.
The table below was derived from data included in the DFPI's report.
In 2020, the DFPI received nearly 1,500 applications for licenses under the CFL.