+ $3.00 NMLS Credit Banking Fee
|Purpose:||Mandatory California state-specific component for DBO mortgage licensee applicants|
|Features:||online text, online video, printable certificate, PDF eBook|
|Category:||Mortgage > License Training > California|
7405 SW Beveland Rd,
Portland, OR 97223
Mandatory California state-specific component for DBO mortgage licensee applicants
NMLS Course ID: 11090
NMLS Sponsor ID: 1400327
This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in California under the Department of Business Oversight (DBO). This 2-hour course covers California specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become a California mortgage loan originator under the DBO.
This course consists of two sections and an exam:
Total Study Time: 2 clock hours
The activities of licensed mortgage loan originators and the origination or offering of financial products for residential real property are subject to California law. This section of the course covers MLO licensing requirements, mortgage lender licensing requirements, and the California residential lending laws the MLOs must comply with.
An alternative to CRMLA licensing, the California Financing Law requires finance lenders and brokers to be registered before offering consumer or commercial loans in California. MLOs who are employed by finance lenders must be licensed under the CFL requirements. This section will cover finance lender and broker licensing, restrictions on fees that can be charged by CFL licensees, and other lending laws that CFL licensees must comply with.
You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.
If you already have an NMLS ID, but don't remember what it is:
If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center
To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.