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Upon completion of this course, students will be able to:
This course covers California specific material (2 hrs) designed to cover the California Residential Mortgage Lending Act (CRMLA) regulations that set forth the requirements for obtaining and renewing a license as a lender, a servicer, or both. Reviewing the administrative powers of the commission to issue or deny a license and assess fees; as well as disciplinary actions the commissioner can take for non-compliance with the law. Provides a description of the responsibilities of Department of Business Oversight in regulating the mortgage lending industry as well as the general provisions of the California Finance Lenders Law and applicable sections of the California Code of Regulations.