+ $3.00 NMLS Credit Banking Fee
|Purpose:||Mandatory California state-specific component for DBO mortgage licensee applicants|
|Features:||proactive instructor, Webinar|
|Category:||Mortgage > License Training > California|
7405 SW Beveland Rd,
Portland, OR 97223
All times are listed in Pacific Time (PST)
NMLS Course ID: 6888
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.
Students will attend a live / real-time webinar with an instructor. The course will last 2 hours held on one day and will include slide show presentation by the instructor, Q&A sessions, group discussion, and quizzes. Once the student is confirmed to have participated in all actives, a 15-question final exam will be made available outside of the webinar software.
This is a webinar course. Students will need to have a current internet browser and computer speakers or a phone in order to hear the instructor speaking. The webinar is presented using Citrix GoToMeeting software, but a webcam is not required. An audio bridge call-in number along with the session dates and times will be given to the students when the class begins.
This course consists of two sections and an exam:
California Finance Lenders Law (50 minutes)
California Residential Mortgage Lending Act (40 minutes)
Final exam (10 minutes)
Total Study Time: 2 clock hours
Individuals are required to be licensed as mortgage loan originators before participating in residential mortgage lending under California law. This section of the course will cover the licensing requirements for mortgage loan originators under the CFFL.
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 the California residential lending laws the MLOs 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:
Login into NMLS,
Click on the Composite View tab, then
Click View Individual on the sub-header row.
The number that appears in parentheses after your name is your NMLS ID number.
If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center
NMLS functional specification define that a 2-hour mortgage loan originator prelicense courses MUST be completed within 12 hours of the course session start time. Students who do not pass the final exam before the enrollment period expires will be marked as failing the course. Refunds will not be issued for failed courses. Extensions to lengthen the 12-hour enrollment period are NOT available. Students who fail the course can enroll for a new course session and must start from the beginning.
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.