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California Mortgage Broker License


  Learn how to obtain a CFL License.

California Mortgage Broker Requirements


There are two options a mortgage broker may choose when attempting to become licensed to operate as a mortgage broker in the state of California; the California Finance Lender (CFL) License is one option, the other option is through the Department of Real Estate (DRE).

California Finance Lender

The California Finance Lender (CFL) license is an attractive option for mortgage brokers seeking to do business from outside the state. The CFL licensee does not need to maintain a physical office in the state. A surety bond in the amount of $25,000 is required. Mortgage brokers are not required to take continuing education courses nor an exam. Mortgage brokers operating under the CFL license may only make California loans with lenders that are also licensed under the CFL.

California Finance Lender License Fees

There is a $200 application fee, and a $100 investigation fee.

California Department of Real Estate

The California Department of Real Estate (DRE) does not specifically have a mortgage broker license, but rather, anyone who is licensed as a real estate broker under the DRE is also able to function as a mortgage broker under the same license. The DRE requirements are more stringent than the CFL. Brokers must maintain a physical office within the state of California, have credits for two college courses as well as forty-five (45) hours worth of continuing education after being licensed. Applicants must have two (2) years worth of experience in the real estate or mortgage industry and must also pass an exam.

California Department of Real Estate Fees

There is a $165 licensing fee as well as a $65 fingerprint fee.

For complete assistance on your license to operate as a mortgage broker in the state of California, call American Mortgage Licensing to start your project today, 469.688.8441.