CALIFORNIA INDIVIDUAL LICENSING REQUIREMENTS:
Individual loan originators must be licensed in California by July 31, 2010. To ensure ample processing time, loan originator applications must be submitted by May 28, 2010.Licensing is done through the NMLS and consists of an application, application fees, pre‐license education, pre‐license testing, a credit report authorization, background check, and company sponsorship.
California requires that you complete 20 hours of NMLS Approved Pre‐License education. A list
of NMLS Approved Education can be found under the List of NMLS Approved Course Providers
Link found at:
You may want to consider talking to Chamberlin Real Estate School at 1-800-672-4665 Local: (408-378-440) or visit them at www.chamberlinschools.com to see if they have the 20‐hour California course available.
Note that the Education Provider will need to know your NMLS Unique Identifier. The NMLS Unique Identifier is given to you after you create an individual NMLS account. If you do not have an NMLS account, go to:
Loan Officers must pass the National Component of the SAFE Exam AND pass the California
State component of the exam. The National Exam costs $92 and the state exam costs $69.
Please note that if you do not pass an exam (National or State), you must wait 30 days before
retaking the test. Additionally, after 4 failed attempts, you must wait 180 days before retaking the exam. Information about the exam can be found at:
1st Center St Suite 101 | Orem, UT 84057
The following steps come from the NMLS Testing Handbook.
To take an MLO test, an individual must:
1. Have or create an account in NMLS.
All individuals seeking an MLO license are required to have or create an account in NMLS
prior to enrolling for a test.
2. Enroll for the appropriate MLO National and/or State test in NMLS.
A test enrollment may be requested by the individual directly or by any company with access
to the individual’s NMLS record.
NOTE: The individual or company requesting the test enrollment must wait for an email
confirmation before attempting to proceed with step 4 (scheduling the appointment).
3. Study for the test. Content Outlines for the National and State tests are available on the NMLS Testing Page. Sample test questions can be found in the Appendix.
4. Schedule an appointment at a test center. An appointment can be scheduled online or by telephone. Tests are administered at nearly five hundred locations operated by Pearson VUE or Prometric. Access the NMLS Resource Center to find a test center nearest you.
5. Arrive at the test center. Individuals should arrive thirty (30) minutes prior to the scheduled appointment with a current (non‐expired) government‐issued identification that includes the candidate’s photo and signature.
A request for a Fingerprint Background Check will have to be requested through NMLS as part
of the initial loan originator application. The cost of the background check is $39 and is payable
through NMLS at the time the individual application is also submitted. Instructions on how to
order the background check can be found at:
Please note that additional information regarding the Background Check can be found under
the ‘How to Get Licensed as a Loan Originator in California’ section below.
How to Get Licensed as a Loan Originator in California
Current licensing requirements can be found at: CA LO Licensing Requirements1.4786 (f) 801.437.1925
130 West Center St Suite 101 | Orem, UT 84057
NMLS Account. Applicants must create an individual account on the NMLS (if
they do not already have one.) This account will be used for education, testing,
and to submit the loan originator application. An account can be created at:
Complete Pre‐License Education: California requires that an applicant complete
20 hours of NMLS approved Pre‐license education, 4 hours of which has to be
an California‐specific component. Details are noted in the Education section
Complete Pre‐License Testing: An applicant must pass the National Component
and California State Component of the NMLS Mortgage Exams. If you have
already passed the National Component then you will just need to pass the
California State Component. Details are noted in the Testing section above.
Company Relationship: Once an applicant has an individual account, they need
to create a Company Relationship with Alliance Bay Funding, Inc. in NMLS. The
NMLS ID for Alliance Bay Funding, Inc. is 249903. Detailed instructions on how to
create a relationship can be found at:
Company Sponsorship: After creating a relationship with Alliance Bay Funding, Inc. in
NMLS, please email at [email protected] so that a sponsorship can be created.
Individual Filing: The next step is to create an Individual filing in NMLS that can
be submitted to California. This can be done by logging into NMLS.
License/Registration: Please note that as part of the individual filing, you will
want to start with License/Registration information on the left‐hand side of the
individual filing and apply for a California Mortgage Loan Originator License.
Current Employment: As part of the application, you will also have to provide a
10‐year employment and residence history.801.426.4786 (f) 801.437.1925
130 West Center St Suite 101 | Orem, UT 84057
Background Check: As part of your initial filing you will need to request a
Federal Criminal Background check. This can be requested on the Criminal
Background Check link in the MU4 filing.
Completeness Check: After filling in your information in NMLS, you will need to
click on the ‘Completeness Check and Submit’ button in order to submit the
application to the California Department of Real Estate. At that time, you will
pay a $30 NMLS processing fee and a $39 Federal Criminal Background Check
fee. After March 31, 2010, you will need to pay an additional $100 application
Get Fingerprinted: Please note that you will have to make an appointment to
get fingerprinted at a Live Scan Location. The results of the fingerprints will
automatically be sent to the regulators where you are licensed and/or have
applied for a license. Details about the fingerprint process can be found at:
Wait: Once your application and supporting documents have been submitted to
California, you must wait until you are approved before originating California
loans. You will want to check NMLS frequently to see if there are any conditions
regarding your license application.
Confirmation: Once Alliance Bay Funding, Inc. confirms your license status, you will
be able to originate California loans!
801.426.4786 (f) 801.437.1925
130 West Center St Suite 101 | Orem, UT 840ww.
Already Licensed? How to transfer your license to Alliance Bay Funding, Inc.
If you already have a California loan originator license, please follow these steps:
Create a Company Relationship with Alliance Bay Funding, Inc. Alliance Bay Funding’s
NMLS ID is 249903.
Monitor NMLS. After you submit your updated record to California, please
monitor NMLS for conditions and/or updates to your California license.
Once approved, you will be notified through NMLS.130 West Center St Suite 101 | Orem, UT 84057
Continuing Education & License Renewal Requirements
Education. Currently, California requires 8 hours of education every year
for Continuing Education. More information will follow as it becomes
Renewal: Licenses expire on 12/31.