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In order to become a licensed Mortgage Loan Originator in the state of California you’ll need to complete the following steps:
The NMLS system is used to process MLO licensing requests for all 50 states, including California. Creating an account is a simple process that only takes a few minutes to complete.
There are two ways of qualifying for the NMLS license
Without a California Real Estate License – California Department of Financial Protection and Innovation
To become a California-licensed MLO you’ll need to complete the required 20-hour NMLS S.A.F.E pre-licensing course along with additional course work required by either of California state licensing agencies.
NMLS SAFE Mortgage License Training – Required
All states require 20 hours of mortgage education from an NMLS approved mortgage school. If you’re seeking a new Mortgage License you need to enroll in a comprehensive 20 Hour SAFE course in addition to the state-required education. Our course packages include both and are available to all states.
DRE License Overview
The California Department of Real Estate (DRE) issues MLO endorsements to licensed real estate agents. Pursuing a DRE endorsed license will give you the most career flexibility, however, you will need to complete and maintain the required Real Estate education requirements.
Once you’ve completed your pre-license education, you’ll need to schedule an appointment to take either The National Test Component or The National Test Component with Uniform State Content through your NMLS account.
SAFE MLO National Test Component
The SAFE MLO exam covers federal mortgage-related laws, ethics, Mortgage loan originator activities, and general mortgage knowledge.
Once you completed the required pre-licensing courses and achieved passing scores on the National and any applicable state-required tests, you will be able to apply for your mortgage loan originator license on the NMLS website.
The SAFE act established licensing and registration standards for all Mortgage Loan Originators. In order to receive your California MLO certification, you’ll need to provide the following information and pay the associated fees:
NMLS Processing | $30 |
FBI CBC | $36.25 |
Credit Report | $15 |
In order to complete the final step in becoming a fully licensed California MLO, your NMLS ID will need to be sponsored by a state-licensed employer. This sponsorship tells the governing agencies that your employer will be supervising your individual license. You can submit your sponsorship through your NMLS ID. Once your employer sponsorship is associated with your NMLS ID, you’ll be ready to do business as an MLO in the state of California.
Let’s talk when you reach this stage. We have a placement program for an innovative mortgage broker.
No cost or obligation! Come by and check out a class for yourself!