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 State Licensing Requirements

Company Licenses Description Requirements Checklist
Exempt Company Registration This registration is available for any California state agency or exempt company that employs state-licensed mortgage loan originators but is not required to be licensed under the laws of California. This registration is discretionary and is intended for California state agencies and exempt companies that wish to manage their mortgage loan originators in NMLS. Please consult the California Department of Corporations (DOC) before applying for this registration. (More Details)
Finance Lenders Law (CFLL) license This License is required for any company or sole proprietorship that is engaged in the business of making or brokering consumer or commercial loans. A CFLL broker is authorized to act as a broker in connection with loans made by a CFLL lender. A license can be issued as a lender, a broker or both. Only companies making or brokering residential mortgage loans are required to be licensed through the NMLS. Companies that engage solely in the making or arranging of non-mortgage related or commercial loans must apply directly to the Department of Corporations. (More Details)
Money Transmitter License The Money Transmitter Division of the Department of Business Oversight (DBO) licenses and regulates money transmitters, which includes issuers of payment instruments (money orders) and travelers’ checks and non-bank issuers of stored value. The California money transmission laws are found in the California Financial Code, Division 1.2, commencing with section 2000.
Residential Mortgage Lending Act (CRMLA) license This license is required for any company or person who makes or services residential mortgage loans in California. A CRMLA license is an alternative to the licenses under the California Finance Lenders Law or the California Real Estate Law. A licensed CRMLA lender is authorized to provide brokerage services to its borrowers. (More Details)
Branch Licenses Description Requirements Checklist
Finance Lenders Law (CFLL) license (Branch) This license is required for all locations, other than the main office identified on the CFLL license that conducts business with California consumers. (More Details)
Residential Mortgage Lending Act (CRMLA) license (Branch) Each branch location desiring to conduct business under this license authority must be separately authorized and will require a filing of Form MU3 through the NMLS. All locations in California must be authorized. (More Details)
Individual Licenses Description Requirements Checklist
Mortgage Loan Originator License Any person who originates residential mortgage loans must apply for and receive a mortgage loan originator license by July 31, 2010.

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