B That it is purchasing for resale pursuant to an exemption under Rule A 17 C. B The pool of assets consists of one or more of the following: i Interest-bearing obligations. D The offer and sale of the securities is qualified under the California Corporate Securities Law of or registered under federal securities laws, or exempt from qualification or registration.
B The person directly makes residential mortgage loans. Existing law defines specified terms for purposes of the California Residential Mortgage Lending Act, which generally prohibits a person from engaging in the business of making residential mortgage loans or servicing residential mortgage loans without first obtaining a license from the Commissioner of Business Oversight in accordance with the act. Existing law defines a lender as a person who is an approved lender for the Federal Housing Administration, the Veterans Administration, the Farmers Home Administration, the Government National Mortgage Association, the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation, who directly makes residential mortgage loans, and who makes the credit decision in the loan transactions.
The people of the State of California do enact as follows:. Section of the Financial Code is amended to read:. No bond is required or any financial records information. If intending to have more than main office location, each branch location must be licensed as well with the CA-BRE. Company must have an underlying real estate license.
For more information or to speak to a representative for California mortgage licensing call us today at Consumer Credit Notification Renewals. If you conduct these activities, DRE requirements may apply to you. Title 70D does not apply to commercial or business purpose mortgage activities.
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