(a) An application for a farm or home loan must be filed in writing in the Division of Farm and Home Purchases district or satellite office having jurisdiction over the area in which the farm or home is located, in form or forms as permitted or prescribed by the Department, and must evidence the applicant's intent to apply presently for a loan by specifying the amount the applicant wishes to borrow and by specifically describing an existing farm or home property. If filed by mail, an application shall be deemed filed on the date of the postmark. If a postmark is illegible or otherwise unavailable, or if the application is filed in person, it shall be deemed filed on the date of receipt as printed, stamped, or written thereon by the office in which it was filed. If filed by facsimile or other electronic means available to the Department, it shall be deemed filed on the date it was received by the District or Satellite Office. The application may be processed based on the electronic forms; however, hardcopy originals of signed documents as required by State or Federal statute or regulations, must be received prior to funding.

(b) Applications may be submitted by the veterans directly, or by a Mortgage Broker on their behalf. Only Mortgage Brokers who have been trained and certified pursuant to Section 302.1 by the Department, on its standard loan processing and eligibility procedures, shall be allowed to submit Cal-Vet loan applications. The Department shall have the sole responsibility for the underwriting and approval of all farm or home loans, subject to Section 987.59 of the Military and Veterans Code.

(c) The intent of the Department is to process loan applications on existing homes from date of full compliance to issuance of loan documents in an average time of 30 days or less. Full compliance is the date that the following application documents have been received by the Department: Signed Loan Application on a specific property; Military Document(s) establishing eligibility; credit report; acceptable explanation of any derogatory credit items; bankruptcy documents or other credit related documents required for underwriting purposes; verification of income; Preliminary Report of Title; Sales Agreement. Issuance of Loan Documents is the issuance of Escrow Instructions, Cal-Vet Loan Contract and Memorandum Agreement of Sale to the escrow holder. Loan processing time does not include the time it takes the veteran to submit requirements of purchase.