Each branch location of an entity that is operating under the CRMLA License must be licensed by the Department of Business Oversight through the NMLS. The requirement is only for California branch offices. The Department of Business Oversight considers a branch office as any physical location of your entity which is either located in California or is located outside of California but conducts activities subject to the California Residential Mortgage Lending Act (CRMLA). Accordingly the following branch locations will require license are:
The Branch authorization is handled through the NMLS. To apply, you need to log into your account and file the Branch Application Form (Form MU3).
The total license cost for each branch is $20.00 including the NMLS processing fee.
Updated: Sep 14, 2013