2 Hour CA-DFPI SAFE: California Mortgage Lending Laws

​​​​​​​This course is designed to prepare candidates to take the exam to become a state-licensed mortgage loan originator in California under the Department of Financial Protection and Innovation (DFPI). This 2-hour course covers California specific rules and regulations, and is required as part of the 20 hours of prelicensure education needed to become a California mortgage loan originator under the DFPI.

Topics and Learning Objectives

This course consists of two sections and an exam:

1. California Residential Mortgage Lending Act (40 minutes)
2. California Finance Lenders Law (50 minutes)
3. Final exam (10 minutes)

Total Study Time: 2 credit hours (100 minutes)

Module 1: California Residential Mortgage Lending Act (CRMLA)

The activities of licensed mortgage loan originators and the origination or offering of financial products for residential real property are subject to California law. This section of the course covers MLO licensing requirements, mortgage lender licensing requirements, and the California residential lending laws the MLOs must comply with.

Module 2: California Financing Law (CFL)

An alternative to CRMLA licensing, the California Financing Law requires finance lenders and brokers to be registered before offering consumer or commercial loans in California. MLOs who are employed by finance lenders must be licensed under the CFL requirements. This section will cover finance lender and broker licensing, restrictions on fees that can be charged by CFL licensees, and other lending laws that CFL licensees must comply with.

NMLS ID Required

You must have an NMLS ID to receive credit for this course. You will need this number before you begin the course.

If you already have an NMLS ID, but don't remember what it is:

• Login into NMLS,
• Click on the Composite View tab, then
• Click View Individual on the sub-header row.
• The number that appears in parentheses after your name is your NMLS ID number.

If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center