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Get Your Mortgage Loan Originator License in 2024!

Please Note that the California Department of Business Oversight (CA-DBO) has recently been replaced by the California Department of Financial Protection and Innovation (CA-DFPI). None of the educational requirements to get your Mortgage Loan Originator License have been affected. Thank you for your patience as we work to comply with the rebranding adjustments. 

CA-DFPI Pre-Licensing Courses

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Licensed in another state and want to add California?

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CA-DRE Pre-Licensing Courses

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How to Get an NMLS Mortgage License in California

 

 

Step 1

     

Step 2

     

Step 3

 
 

Apply For Your NMLS Account and ID Number

     

Complete Your NMLS Pre-License Education

     

Need to Pass the SAFE MLO National Test

 
 

The first step to obtaining your California mortgage license is applying for an NMLS account and ID number. To do so, go to the NMLS website.

     

To get your MLO license in California, you will need to complete a required 20-hour SAFE pre-license NMLS course with any additional work from the California state licensing agencies: The California Department of Financial Protection and Innovation (DFPI) and the California Department of Real Estate (DRE).

     

With your education complete, you need to schedule an appointment for the National Test Component exam. Find out more on how to take your NMLS test here.

 
 

Step 4

     

Step 5

     

Step 6

 
 

Complete Background Checks and Pay All Fees

     

Apply for Your California MLO Mortgage License

     

Associate Your NMLS Record with Your New Employer

 
 

To finalize your application and receive your license, you will need to pay several non-refundable fees and get a background check. Find out more about how to complete your background check here.

     

After receiving a passing score on your NMLS mortgage exam, you need to apply for your California NMLS license. You can find more information on this step for (DRE) here and (DFPI) here.

 

     

Your California license will be in a pending state until you have an employer sponsorship, which lets the government know that an employer is supervising your individual license. Learn how to associate your NMLS account with your employer here.

 

 

California Frequently Asked Questions

There are two separate licensing divisions in California: The California Department of Financial Protection and Innovation (CA-DFPI), and The California Department of Real Estate (CA-DRE). Mortgage Educators & Compliance provides course bundles that satisfy either NMLS license in California.

 

Some companies operate under the California Department of Real Estate (DRE), others under the California Department of Financial Protection and Innovation (DFPI). Your required mortgage education courses will depend on the licensing division your employer operates within. Contact one of our licensing specialists for assistance selecting the appropriate pre-licensing courses shown below.

 

If you are unsure which agency you will be licensed under, please contact your employer, as you must be licensed under the same agency. If you don’t have a sponsor yet, use the following to determine which agency to select:

 

If you hold an active CA real-estate license and are looking to operate under both this and your new mortgage loan originator license, then you will select the CA-DRE.

 

If you don’t have a CA real-estate license and aren’t looking to obtain one and are only planning to operate under a mortgage loan originator license, then select the CA-DFPI.

 

While both licenses will allow you to become a MLO, there are pros and cons to getting either license.

Anyone looking to work for a company that is licensed through the CA-DFPI, will have to license through the CA-DFPI as well. Generally speaking, a CA-DFPI license:

  • Is easier to obtain than a CA-DRE license.

  • Will only allow you to work for companies licensed with the DFPI.

  • Will allow you to deal exclusively with mortgages that either fall under the California Finance Lenders Law (CFLL) or the California Residential Mortgage Lenders Act

If you're looking to work for a company that is licensed through the CA-DRE, you will be required to license through the CA-DRE as well. A DRE license:

  • Is more difficult to obtain.

  • Requires you to maintain a real estate license

  • Requires you to complete additional, seperate real estate education.

  • Gives you the opportunity to work with any mortgage company licensed through the DRE

Mortgage loan originators and mortgage brokers are commonly confused terms. As such, many people who are searching for a California broker license are actually looking for a loan originator or loan officer license. So what’s the difference? Generally speaking, a mortgage broker is a company that employs a team of loan officers. Loan officers originate mortgage loans for new home buyers. Therefore, the correct license for a loan officer in California would be one of the options listed above, depending on which division your employer works under.

As the housing market continues to grow, so too does the demand for loan officers who are both qualified and ethical in all of their dealings. The requirements to gain a California mortgage license are both robust and rigorous.

 

Under the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, all those who are looking to obtain a loan office license in California or are looking for a California mortgage license renewal must complete extensive educational requirements.

 

Keep in mind that New Mortgage License information doesn't count towards your CE credits. Don't retake any 20 hour new license educatino course unless you are specifically directed to by a state regulator.

CA-DRE Education Requirements
Fair Lending, Ethics, Fraud, and Consumer Protection 3 Hours
Federal Laws and Regulations 3 Hours
Non-traditional Lending 2 Hours
Electives 10 Hours
Undefined State Law Education 2 Hours
Total 20 Hours

 

CA-DFPI Education Requirements
Fair Lending, Ethics, Fraud, and Consumer Protection 3 Hours
Federal Laws and Regulations 3 Hours
Non-traditional Lending 2 Hours
Electives 10 Hours
CA-DFPI Law 2 Hours
Total 20 Hours

Our NMLS online course will not only help you meet any educational requirements you need on your path to becoming an MLO, it also includes helpful test prep material that will prepare you to pass the national test.

 

This course meets the required 20 hours (18 hours CA-DFPI course & 2 hour DFPI Elective) of pre-license education. Each subject is broken down into 5 minute videos accompanied by various quizzes and activities.

 

The instructor for our course is David Luna, who has over 35 years of experience in the mortgage industry and has worked for Fannie Mae, Freddie Mac, and several large banks.

 

Topics included in our 20 hour course:

  • Becoming an MLO

  • Learning the Products and Programs

  • Initial Application Process

  • Processing and Underwriting

  • Closing and Funding

  • Mortgage Ethics

The NMLS will charge these fees. Note that there are no refunds.

NMLS Fees
NMLS Processing Charge $30
Background Check $36.25
Credit Check $15
CA-DFPI Application Fee $300
NMLS National Exam Fee $110
$491.25 Total

After your obtain your CA-DFPI license, you will be required to complete 8 hours of Continuing Education each year, which includes:

CA-DFPI Education Requirements
Federal Law 3 Hours
Ethics 2 Hours
Non-traditional Lending 2 Hours
CA-DFPI Specific Education 1 Hour

After your obtain your CA-DRE license, you will be required to complete 8 hours of NMLS approved Continuing Education each year, which includes:

CA-DFPI Education Requirements
Federal Law 3 Hours
Ethics 3 Hours
Non-traditional Lending 2 Hours
Undefined Elective 1 Hour

You’ll need to take into account the “successive years” rule, which prohibits you from taking the same courses for two years in a row. Mortgage Educators changes its continuing education to ensure that you won’t have any issues with this rule.

 

**The deadline to compete CE in California is December 31st. MLO's with the CA-DRE & CA-DFPI are actually prevented from applying for license renewal until they have completed their CE.

Mortgage Educators and Compliance is here to answer any additional questions you may have regarding your Alabama mortgage license. For additional questions, feel free to call us at (801) 676-2520 or email us at 20hour@MortgageEducators.com.

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