NMLS SAFE MORTGAGE LICENSING
LEARNING COMPANION 2026 RESPA AND
FAIR LENDING REGULATIONS FRAMEWORK
◉ Predatory Lending Act
Answer: Similar to HOEPA under federal guidelines but CA limits
upfront finance charges to 6%. APR over the Comparable Treasury is
still 8%.
◉ To Be Licensed DRE/BRE
Answer: must have gone to school and tested and received a Real
Estate Salesperson or Real Estate Brokers license can only work
with that type of company only need nmls exam if before 12/2010
◉ DRE/BRE fees
Answer: Salesperson exam fee 60, license fee 245, renewal fee 245
late fee 367. Broker exam fee 90 license fee 300, renewal fee 300 and
late fee 450, all nonrefundable
◉ DRE Chief Officer
Answer: Real Estate Commissioner
, ◉ DOC/DBO
Answer: department of corporations changed to department of
oversight, two types of loans crmla and cfl only do loans
◉ DOC/DBO chief officer
Answer: the Commissioner of Corporations
◉ CRMLA licensing/financial requirements
Answer: license in california under Division 20 financial code 50000
states that they can do loans must have 250k assets and a bond of
50k unless doesn't meet a requirement can be raised to 100k
◉ CFL financial/licensing requirements
Answer: Chapter 1 Article 2 deals with exemptions. fiannce company
same as licensee Financial Code 22007. Only do loans for
themselves. A broker is required to have a 25k net worth and a 25k
surety bond
◉ Administrative Procedure Act
Answer: Accusation a written statement that something was done
wrong, must be verified unless officer made, a hearing is allowed.
consequence revocation, suspension, limited use. Service of
accusation respondent given chance to prove compliance
LEARNING COMPANION 2026 RESPA AND
FAIR LENDING REGULATIONS FRAMEWORK
◉ Predatory Lending Act
Answer: Similar to HOEPA under federal guidelines but CA limits
upfront finance charges to 6%. APR over the Comparable Treasury is
still 8%.
◉ To Be Licensed DRE/BRE
Answer: must have gone to school and tested and received a Real
Estate Salesperson or Real Estate Brokers license can only work
with that type of company only need nmls exam if before 12/2010
◉ DRE/BRE fees
Answer: Salesperson exam fee 60, license fee 245, renewal fee 245
late fee 367. Broker exam fee 90 license fee 300, renewal fee 300 and
late fee 450, all nonrefundable
◉ DRE Chief Officer
Answer: Real Estate Commissioner
, ◉ DOC/DBO
Answer: department of corporations changed to department of
oversight, two types of loans crmla and cfl only do loans
◉ DOC/DBO chief officer
Answer: the Commissioner of Corporations
◉ CRMLA licensing/financial requirements
Answer: license in california under Division 20 financial code 50000
states that they can do loans must have 250k assets and a bond of
50k unless doesn't meet a requirement can be raised to 100k
◉ CFL financial/licensing requirements
Answer: Chapter 1 Article 2 deals with exemptions. fiannce company
same as licensee Financial Code 22007. Only do loans for
themselves. A broker is required to have a 25k net worth and a 25k
surety bond
◉ Administrative Procedure Act
Answer: Accusation a written statement that something was done
wrong, must be verified unless officer made, a hearing is allowed.
consequence revocation, suspension, limited use. Service of
accusation respondent given chance to prove compliance
