(a) The examination
to qualify for a mortgage loan originator license endorsement shall be
administered through the federal Nationwide Mortgage Licensing System and
Registry and will consist of a national component and California state
component. No portion of the examination is applicable, or a condition
precedent, to the application required to obtain a real estate license in
(b) A person taking the
examination to qualify for a mortgage loan originator license endorsement shall
abide by the rules, policies, and procedures set forth by the Nationwide
Mortgage Licensing System and Registry.
Cal. Code Regs. Tit.
Note: Authority cited: Sections
Business and Professions Code. Reference: Sections 10150(d),
10151(e),10166.02(b)(2), 10166.02(d) and 10166.06, Business and Professions
1. New article 7.5
(sections 2758.1-2758.7) and section filed 2-23-2010 as an emergency; operative
2-23-2010 (Register 2010, No. 9). A Certificate of Compliance must be
transmitted to OAL by 8-23-2010 or emergency language will be repealed by
operation of law on the following day.
2. Certificate of Compliance
as to 2-23-2010 order transmitted to OAL 5-6-2010 and filed 6-29-2010 (Register
2010, No. 27).