Upon completion of this course, students will be able to:

• Comply with the general provisions of the California Finance Lenders Law specific to licensing requirements and regulations.
• Adhere to applicable regulations under the California Finance Lenders Law contained in Chapter 3, Title 10 of the California Code of Regulations, commencing with Section 1404.
• Adhere to the licensing requirements for a residential mortgage lender, residential mortgage loan servicer and a mortgage loan originator as set forth by the CRMLA.
• Define the administrative powers and processes of the commission to issue a license, deny a license, assess fees and impose disciplinary actions.

This course covers California specific material (2 hrs) designed to cover the California Residential Mortgage Lending Act (CRMLA) regulations that set forth the requirements for obtaining and renewing a license as a lender, a servicer, or both. Reviewing the administrative powers of the commission to issue or deny a license and assess fees; as well as disciplinary actions the commissioner can take for non-compliance with the law. Provides a description of the responsibilities of Department of Business Oversight in regulating the mortgage lending industry as well as the general provisions of the California Finance Lenders Law and applicable sections of the California Code of Regulations.