California Home Loan People Will Be Required to Get Endorsement on Their License to General Loans

California loan people will be required to get an endorsement on their real estate license by December 1, 2010, in order to generate home loans.  

 

There will be a requirement of 20 hours of pre-license education and 8 hours of continuing education every year.

 

California DRE has been mandated to adopt a licensing process as described in the SAFE Act (SB36).  Details about pre-licensing education and testing for existing real estate licenses who will apply for the SAFE mortgage loan originator endorsement and fees involved are not yet worked out by the DRE. 

 

For information, check out the SAFE Act and NMLS&R at www.csbs.org. or www.stateregulatoryregistry.org/NMLS.  For other questions call the California Mortgage Loan Activities Unit at (916) 227-0770.

 

The California DRE and California Corporations commissioners will not accept education qualification courses from groups that are advertising and offering national courses.  Don't take classes to be certified as loan originator unless the course provider has a letter from the California DRE or the Corporations Commission stating that they are approved.

 

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Harrison K. Long, Explore Group, Coldwell Banker Previews, Irvine, CA.  Irvine Realtor.  CA DRE #01410855.  ExploreProperties@gmail.com.  Tel. 949-854-7747.

                   

 

Posted via email from Explore OC Homes