CA AB437

Establishes the Move-In Loan Program administered by the Department of Housing and Community Development to provide grants to eligible nonprofit organizations for distributing no-interest loans to applicants for security deposits and first month's rent.

Limits loans to applicants with household income no greater than the area median income of the rental dwelling's location, as estimated annually by the U.S. Department of Housing and Urban Development.

Requires nonprofit organization applicants to submit loan servicing plans, program guidelines, loan document templates, and underwriting guidelines to the department for approval.

Requires program guidelines to include loan application requirements with documentation of income and valid California identification, and rental unit eligibility requirements such as maximum rent price and square footage limits.

Authorizes the Department of Housing and Community Development to require or prohibit actions by recipient nonprofit organizations as necessary to comply with state, federal, or local laws and departmental regulations.