California DFPI Financing Law License

Summary

Get Licensed in California to broker and originate mortgages. We can help facilitate the entire process from start to finish to obtain your state licenses. Below is the general licensing requirements for the state, you can add to cart online and check out to purchase our services. The fees listed below are only our consulting service fees and do not include third party fees involved in obtaining the licenses.

General Requirements

Financial Statements

Provide an unaudited financial statement prepared in accordance with Generally Accepted Accounting Principles dated within 90 days of the date of the application. For residential mortgage brokers and lenders, the financial statement must reflect the required minimum net worth of $250,000, unless licensed as a broker only, then requirement is $50,000. For applicants not engaged in the business of residential mortgage lending or brokering, the minimum net worth is $25,000. Note: Financial statements are uploaded separately under the Filing tab and Financial Statement submenu link.

Resident/Registered Agent

The Resident/Registered Agent must be listed under the Resident/Registered Agent section of the Company Form (Section 4 of the MU1) and must match the information on record with California

Surety Bond

Dollar Amount of Loans Made in Prior Year - Bond Amount 0 - $1,000,000 $25,000 $1,000,001 - $50,000,000 $50,000 $51,000,001 - $500,000,000 $100,000 Over $500,000,001 $200,000

Management/Org Chart

Required

Business Plan

Required

Source

Information Source NMLS website

$1,585.00 Processing Fee

* Includes 1 Company State license and 1 individual License