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Let’s explore the MLO License Education Requirements in California, where there are two distinct licensing divisions: the California Department of Financial Protection and Innovation (CA-DFPI) and the California Department of Real Estate (CA-DRE).
For those pursuing MLO licensure under the California-DFPI, completing 20 hours of NMLS approved education is a requirement. This comprehensive education covers federal law, ethics, nontraditional mortgage lending, and includes specific instruction tailored to California.
Similarly, individuals seeking MLO licensure through the CA-DRE must also complete 20 hours of NMLS approved education. This curriculum covers essential subjects such as federal law, ethics, and nontraditional mortgage lending. Notably, the CA-DRE does not impose any state-specific education requirement, setting it apart from the CA-DFPI.
If you are pursuing MLO licensure through the CA-DFPI, you must complete 20 hours of education that covers various topics comprehensively. This includes 3 hours of federal law and 3 hours of ethics, which address fraud, consumer protection, and fair lending issues. Additionally, you will receive 2 hours of instruction on non-traditional mortgage lending, 10 hours of elective education, and 2 hours of CA-DFPI state-specific law.
On the other hand, if you are interested in obtaining licensure through the CA-DRE, you will also need to fulfill the requirement of completing 20 hours of SAFE education. This education encompasses 3 hours of federal law, 3 hours of ethics, 2 hours of non-traditional mortgage lending, and 12 hours of elective education. It’s important to note that licensing through the CA-DRE does not include a state-specific education requirement.
To assist you in becoming a licensed MLO through the CA-DFPI, the NMLS provides the CA-DFPI MLO Application Checklist. This checklist serves as a helpful guide, walking you through the application process step by step. View CA-DFPI Checklist
Similarly, if you are looking to obtain a MLO license through the CA-DRE, the NMLS offers the CA-DRE MLO License Endorsement Application Checklist. This checklist will provide you with clear instructions and guidance on the application process specific to the CA-DRE. View CA-DRE Checklist
MLO applicants in California, regardless of whether they are licensing through CA-DFPI or CA-DRE, are required to successfully complete the SAFE 20 Hour Education course and pass the NMLS National MLO exam to initiate the licensing process. To cater to your study needs and accommodate your schedule, we offer a variety of format options for the 20-hour course. This flexibility ensures that you can find the ideal learning solution that suits your preferences and availability. View our course and test preparation options here.
As previously mentioned, when obtaining a license through the CA-DFPI, one of the essential MLO License Education Requirements in California is the completion of 2 hours of specialized California-specific education. This requirement ensures that MLOs are well-versed in the unique regulations and practices specific to the state of California. You can view our Online Self-Study option below.
California provides two distinct licensing divisions: the California Department of Financial Protection and Innovation (CA-DFPI) and the California Department of Real Estate (CA-DRE). These divisions determine the licensing requirements for mortgage professionals, with some companies falling under the CA-DRE and others under the CA-DFPI.
To determine the appropriate agency for your licensure, it is crucial to consult your employer. They will guide you in aligning with the correct division based on their licensing affiliation. This step is important as your employer’s licensing division determines the specific mortgage education courses you must complete.
If you have yet to secure a sponsor, you can use the following guidelines to make an informed decision. If you currently hold an active CA real-estate license and plan to operate under both licenses, selecting the CA-DRE is recommended. However, if you do not possess a CA real-estate license and solely intend to operate as a mortgage loan originator, choosing the CA-DFPI is the appropriate option.
As highlighted earlier, fulfilling the MLO License Education Requirements for California includes successfully passing the NMLS National MLO Exam and obtaining your NMLS ID Number. To assist you in navigating these crucial steps, we have curated a collection of informative short videos below. These videos will guide you through the process of obtaining your NMLS ID, scheduling your exam, and offer valuable tips for acing the exam with confidence. Subscribe to our YouTube Channel for more great tips and industry-related news!
Contact Information
My Mortgage Trainer, Inc.
8420 Masters Rd.
Indianapolis, IN 46250
(317) 566-0425
info@mymortgagetrainer.com
Office Hours
Monday – Thursday: 9AM – 6PM EST
Friday: 9AM – 4PM EST
Saturday – Sunday: Closed
All Scheduled Webinar and Instructor Led Course times are EST
NMLS Approved Provider #1400080