Here is what you will need to do to complete this process:
- Visit the NMLS registration portal and request an account
- Choose the individual option
- Provide the information required and submit the application
2. Complete NMLS pre-license education
Becoming a licensed MLO in California requires you to finish the 20-hour SAFE pre-licensing course, as well as additional course work required by either of the California state licensing agencies. These include the California Department of Financial Protection and Innovation (DFPI) or the California Department of Real Estate (DRE), which was formerly known as the California Bureau of Real Estate (BRE).
NMLS SAFE mortgage license training
Every state requires 20 hours of mortgage education from an NMLS-approved mortgage school. If you want a new mortgage license, you will want to enroll in the 20-hour SAFE course in addition to the requirements that are specific to your state.
CA-DFPI license overview
A CA-DFPI license is a requirement for any MLO employed by a DFPI-licensed broker or lender. That applies to any mortgage lender governed by the California Residential Mortgage Lending Act (CRMLA) or California Finance Law (CFL). Additional details include:
- The CA-DFPI must also license your employer
- It is an easier license to get
- Negotiate the terms of residential mortgages or process residential mortgage applications
- It requires a sponsorship from a DFPI-licensed employer
DRE license overview
The DRE issues mortgage loan originator endorsements to licensed real estate agents. While this will provide you with the most flexibility in your career, you will have to finish and maintain the real estate education requirements, which includes:
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