California Mortgage Licensing 

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Mortgage Banker and/or Broker Licensing | Residential Mortgage Lender License

• Physical In-State Office Required: No
  
• Qualifying Individual: No
  
• Minimum Net Worth: $250,000 Audited
  
• Surety Bond: $50,000
  
• Loan Originator License: Yes
  
• Branch License: Yes
  
• Comments: You will also need a Title II Mortgagee Approval with HUD also known as a Full Eagle or a Veteran's Authority Lender Approval in order to apply for an RML License. The Veteran's Authority Lender approval is very easy to obtain. The RML License is the only license that allows companies to act as sub-servicers. Proof of Funding Capacity, i.e. Warehouse Line. 
  
• Fidelity Bond: Cost ranges drastically depending on size of company (Minimum cost about $1,500) – Not required if Federal Agency approval is from Veteran’s Authority
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$200 – Foreign Entity Fee 
$125 – Registered Agent Fee 
$450 – Surety Bond Fee 
$1,000– Company License Fee 

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Mortgage Banker and/or Broker Licensing | California Finance Lender License

• Physical In-State Office Required: No 
  
• Minimum Net Worth: $250,000 (Lender), $50,000 (Broker), $25,000 (Commercial real estate only)
  
• Surety Bond: $25,000
  
• Qualifying Individual: Yes
  
• Loan Originator License: Yes
  
• Branch License: Yes
  
• Comments: Requires one employee of company to hold a CA DOC LO License.
  

License Cost Breakdown - Estimated fees not including Regulatory Counsel Group Professional Service Fee:
$200 – Foreign Entity Fee
$125 – Registered Agent Fee
$400 – Company License Fee
$250 – Surety Bond Fee
$50+ - Fingerprinting Fee 

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Regulated by:
California Department of Business Oversight
Division of Corporations
320 West 4th Street, Suite 750
Los Angeles, California 90013-2344
http://www.dbo.ca.gov/


MLO Division
(213) 576-7565 - [email protected]
T'Pri Griffin - [email protected] - Manager

CFL Division
Richard Grant - [email protected] - Branch Reviewer
Subhendra Singh - [email protected] - (213) 576-7663
Ms. Ahn Vo - 213-219-7948
Ms. Lina Gonzalez - Fingerprint Card Requests and Status: (213) 576-7690 - [email protected] 
Patricia - (213) 576-7614
Debbie Stopeck - [email protected] - Manager
Gina Madamba [email protected]
Steven Fong - [email protected] - (213) 576-7112 - Reviewer
Fiona Y. Tai - [email protected] - Phone: (213) 576-7687, Fax: (213)-576-7188 - Reviewer
Mary Guzman - [email protected] - All NMLS documents including (checklists on branches, companies, amendments, MLO) need to be sent to her. 

RML Division
Mehran Malekaghakhan - [email protected] - 213-576-7684
Gina Fong - [email protected] - 213-576-7564
DiAun Burns - [email protected] - Supervisor - 213-576-7620

Telephone: (916) 445-7205 - Sacramento
Telephone: (213) 576-7690 - Los Angeles
Colleen Monahan - Deputy Commissioner - [email protected] (Legal/Policy Questions)
Fax: (213) 576-7181
www.dbo.ca.gov