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CALIFORNIA (DFPI)

Get an understanding of mortgage lending and insurance state licensing and continuing education requirements.

California DFPI License Requirements

California (DFPI) education requirements for mortgage licensing
In the state of California, mortgage loan originators, under the Department of Financial Protection & Innovation (DFPI), are required to:

  1. Complete a Criminal Background Check (CBC).

  2. Authorize a credit report through the NMLS that demonstrates financial responsibility.

  3. Fulfill all state and federal education requirements as designated by your state agency.

  4. Take and pass the National Component.

  5. All applicants must apply for a license through the NMLS by filing a Form MU4 and receiving a sponsorship by a company holding a valid unique identifier with NMLS and which is licensed by the Financial Protection & Innovation (DFPI).

  6. An applicant must demonstrate financial responsibility, character and general fitness such as to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly and efficiently.

  7. Coverage by a surety bond provided by the mortgage loan originator’s employer.

California (DFPI) NMLS Pre-Licensing Education Requirements:

New state-licensed MLOs are required to complete 20 hours of NMLS-approved education. This includes:

  • 3 hours of federal law

  • 3 hours of ethics

  • 2 hours of non-traditional mortgage lending training

  • 12 hours of electives

California (DFPI) Continuing Education Requirements:

State-licensed MLOs are required to complete 8 hours of NMLS-approved mortgage education annually beginning the year they are licensed (unless PE was completed in the same year). This includes:

  • 3 hours of federal law

  • 2 hours of ethics

  • 2 hours of non-traditional mortgage lending

  • 1 hour of electives

MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row.

California (DFPI) Mortgage Licensing:
NMLS Resources:

Loansbetter.com | NMLS# 2641696 | 17220 Newhope Street

#214A Fountain Valley, Ca 92708 | NMLS Consumer Access

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For more information on the ECOA, please visit the Consumer Financial Protection Bureau website at: www.consumerfinance.gov

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For more information on the Fair Housing Act, please visit the Department of Housing and Urban Development website at: https://portal.hud.gov/hudportal/HUD

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  4. How you can correct any inaccuracies in the information.

 

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If you feel that we are not abiding by this privacy policy, you should contact us immediately via telephone at 714-494-4172 or via email INFO (AT)LOANSBETTER. (DOT) COM.


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