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Contact Us
For assistance with mortgage licensing, contact us at:Direct Phone: (714) 656-3960
Fax: (714) 829-1444
steven@imlicensing.com
Information herein is for educational purpose only and is not meant to be a complete statement of all state mortgage licensing requirements. Additional State and FHA mortgage licensing requirements may be required. If you need further information, we would encourage you to contact us directly.
California Mortgage Licensing
California is one of the most interesting states for mortgage licensing. California has two different mortgage regulatory agencies and 3 different mortgage license types. All 3 are very different. Here is a quick overview of these license types:DRE brokers can broker to DRE, CFL, RML, state chartered and federally chartered institutions
CFL brokers can only broker to CFL
RML brokers can only broker to RML, state chartered and federally chartered institutions
For a detailed description of the different types of licenses in California, go here:
What Are the Differences Between the Different Mortgage Company Licenses Available in California?
Mortgage Banker and/or Broker Licensing
Residential Mortgage Lender License
Physical Office Required: No
In-State Officer/ Key Person: No
Minimum Net Worth: $250,000 Audited
Surety Bond: $50,000
State Initial Fee: $1,100
Loan Originator License: Yes
Branch License: Yes
Comments: You will also need a Title II Mortgagee Approval with HUD also known as a Full Eagle or a Veteran's Authority Lender Approval in order to apply for an RML License. The Veteran's Authority Lender approval is very easy to obtain. The RML License is the only license that allows companies to act as sub-servicers.
Mortgage Banker and/or Broker Licensing
California Finance Lender License
Physical Office Required: No
Minimum Net Worth: $250,000
Surety Bond: $25,000
In-State Officer/ Key Person: No
State Initial Fee: $400
Loan Originator License: Yes
Branch License: Yes
Mortgage Banker and/or Broker Licensing
Real Estate Broker Corporate License and NMLS Company Endorsement
Physical Office Required: Yes
Minimum Net Worth: None
Surety Bond: $ None
In-State Officer/ Key Person : Yes
State Initial License Fee: $230
State Initial Endorsement Fee: $500
Loan Originator License: Yes
Branch License: Yes
Education/Experience: 45 hours and 2 years of experience
Comments: LLC's cannot get this type of license. Only corporations.
Regulated by:
Department of Corporations
320 West 4th Street, Suite 750
Los Angeles, California 90013-1105
MLO Division
(213) 576-7565 - NMLS_Inquiries@corp.ca.gov
T'Pri Griffin - tgriffin@corp.ca.gov - Manager
CFL Division
Richard Grant - rgrant@corp.ca.gov - Branch Reviewer
Subhendra Singh - ssingh@corp.ca.gov
Ms. Ahn Vo - 213-219-7948
Ms. Lina Gonzalez - Fingerprint Card Requests and Status: (213) 576-7690 - mgonzale@corp.ca.gov
Patricia - (213) 576-7614
Debbie Stopeck - dstopeck@corp.ca.gov - Manager
Gina Madamba -gmadamba@corp.ca.gov
Steven Fong - safong@corp.ca.gov - (213) 576-7112 - Reviewer
Fiona Y. Tai - ftai@corp.ca.gov - Cell Phone: (213) 220-2530 - Fax: (213)-576-7188 - Reviewer
RML Division
Mehran Malekaghakhan - mmalekag@corp.ca.gov - 213-576-7684
Gina Fong - gafong@corp.ca.gov - 213-576-7564
DiAun Burns - dburns@corp.ca.gov - Supervisor - 213-576-7620
Telephone: (916) 445-7205 - Sacramento
Telephone: (213) 576-7690 - Los Angeles
Fax: (213) 576-7181
http://www.corp.ca.gov
and
Department of Real Estate
320 West 4th Street, Suite 350
Los Angeles, CA 90013-1105
Mortgage Activity Department (NMLS) Phone: (916) 227-0770
Los Angeles Phone Number for Enforcement: (213) 620-2072
Fax to Legal: (213) 576-6917
Sacramento Phone Number for Licensing: (877) 373-4542
http://www.dre.ca.gov