+ $1.50 NMLS Credit Banking Fee
|Purpose:||1-hour California state-specific course for DBO-licensed mortgage loan originators|
|Features:||online text, printable certificate, PDF eBook|
|Category:||Mortgage > Continuing Education > California > CE Elective|
7405 SW Beveland Rd,
Portland, OR 97223
1-hour California state-specific course for DBO-licensed mortgage loan originators
NMLS Course ID: 10646
NMLS Sponsor ID: 1400327
There are three important pieces of California legislation that those who are licensed with the California Department of Business Oversight (DBO) must be familiar with. The DBO requires licensees who are renewing their DBO licenses to review the California Financing Law (CFL), the California Residential Mortgage Lending Act (CRMLA), and the California Homeowner Bill of Rights (HBOR).
This 2019 course will cover each of the three legislations, starting with the California Financing Law. This module of the course will review the licensing requirements for a finance lender, the expected conduct of those who hold these licenses, the limitations on interest rates, and the investigative powers of the Commissioner of the DBO.
The second module will review the California Residential Mortgage Lending Act. This module will outline the conduct required to maintain a license, the surety bonding and net worth requirements, prohibited fees and owner actions, and how the Commissioner can cite licensees who don't follow the law.
The third module will highlight the California Homeowner Bill of Rights, a law passed in 2013 to give some protection to homeowners who are facing foreclosure of their residential property. This law outlines seven provisions covering dual tracking, robo signing, single points of contact, and more.
This course is broken down into several learning topics. At the end of the course a 15-question final exam will be given. The topics included in this course are:
This course will prepare California DBO-licensed MLOs to:
Total study time: 1 clock hour
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:
If you do not have an NMLS ID and need to obtain one, use the instructions available in the NMLS Resource Center
To provide superior distance education that exceeds industry standards and expectations in course content and delivery methods to those who seek to enter a new profession and those engaged in a profession.