California Residential Mortgage Lending Act

What's New

  • 10/23/14 –The Commissioner of Business Oversight Commissioner proposes to adopt regulations under the California Finance Lenders Law and the California Residential Mortgage Lending Act. The proposed regulations would clarify that nondepository operating subsidiaries, affiliates, and agents of federal banks and other financial institutions are required to be licensed and regulated by the Department of Business Oversight. The period within which to comment on this proposed regulatory action ends on December 8, 2014. (Notice of Proposed Rulemaking PRO 03/13)
  • 03/06/2014 - Licensees are reminded that in accordance with section 7119 of title 21 of the California Code of Regulations, the Residential Mortgage Loan Report is due by March 31, 2014, for all residential mortgage lenders that are not reporting to a federal or state regulatory agency as provided by the Home Mortgage Disclosure Act of 1975, as amended. Licensees making residential mortgages should consult with their internal compliance officers regarding whether they are required to file the state report.
  • 02/24/2014 - The CRMLA reports (CRMLA 13 Report Letter.pdf, CRMLA 13 Annual Report.pdf, CRMLA_13_FSD_Survey.pdf) must be completed and returned to the Department of Business Oversight. These reports must be filed by every licensee, even if no business was conducted under the authority of the license in 2013. Due to the delayed of this notice, the Commissioner hereby grants an extension until April 4, 2014.
  • 01/09/2014 - The Commissioner of Business Oversight adopted amendments to various sections of Title 10 of the California Code of Regulations. The regulations (1) amend license and renewal license application forms under the Corporate Securities Law of 1968 (broker-dealers, agents, investment advisers), the California Finance Lenders Law, the California Residential Mortgage Lending Act, and the Securities Depository Law pursuant to AB 1424 (Chap. 455, Stats. 2011); (2) amend the application for a license under the California Finance Lenders Law regarding operating subsidiaries, reporting of past criminal acts and other violations, and self-certification for passive investors; and (3) adopt the annual report form under the California Finance Lenders Law. The amendments were filed with the Secretary of State on January 7, 2014 and are effective upon filing with the Secretary of State. (PRO 18/11)
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Licensee Information

Information on CRMLA licensing requirements is also available in NMLS.

NMLSNMLS, developed through the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR), allows companies to conveniently manage their mortgage license(s) in an electronic format through a secure website.

Please visit NMLS for additional information. View state licensing requirements specific to the California Department of Corporations.

Consumer Information

Information on companies and branches licensed under CRMLA is also available in NMLS Consumer Access.

National Mortgage Licensing System & Registry Consumer Access NMLS Consumer Access is a fully searchable website that allows the public to view information concerning state-licensed mortgage companies, branches and individuals currently licensed through NMLS.