California has two distinct regulators - the Department of Business Oversight (DBO) and Bureau of Real Estate (BRE). Generally, companies that do not employ real estate brokers are regulated by the DBO, while real estate companies and sole proprietor brokers are regulated by the BRE.
- NMLS Cost: $1100
- Additional Costs: $$15 per credit report, $36.25 per criminal background check; additional state fingerprinting and fees required ($20 for residents and $62.50 for non-residents) Arizona also assesses an additional pro-rated license fee through an NMLS invoice that varies and must be paid prior to licensure
- Minimum net worth: $250,000
- Qualifying Individual required
- Surety Bond Requirement: $50,000 minimum
- Fidelity bond required
DBO - Residential Mortgage Lending Act (CRMLA) License (Company)
- NMLS Cost: $20 (yes, $20)
- You must submit your license request at least ten (10) business days prior to opening your branch
DBO - Residential Mortgage Lending Act (CRMLA) License (Branch)
- NMLS Cost: $330
- Additional Costs: $15.00 per credit report, $36.25 per criminal background check
- Education: 2 hours of CA-specific pre-licensure education is required in addition to the national 20-hour requirement
- Citizenship documentation is required
DBO - Mortgage Loan Originator License (individual)
- Coming soon!
BRE Licensing