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CA RML Branch License

Requirements for Branch Office License

CA RML Branch License

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:

  1. All branches located in California
  2. All branches located outside California which conducts residential mortgage activity that would be subject to CRMLA.
Source :www.MortgagesAnalyzed.com

Branch Application Process

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).

Application Requirements

  1. Branch Manager: A branch manager must be designated for each branch office. NMLS defines a branch manager as "an individual whose principal office is physically located in, who is in charge of, and who is responsible for the business operations of a branch office."
  2. Entity License: Your entity must have a RML license or a pending RML license request prior to the submission of a branch application.
  3. Timing: You must apply for the branch license at least 10 days before you intend to engage in business at the location.
  4. Trade Name: The trade name that you intend to use should have already been approved by the Department of Business Oversight. If you need approval, then provide a copy of the Fictitious Business Name Statement bearing the seal of the County Clerk for each fictitious business name to be used.

The total license cost for each branch is $20.00 including the NMLS processing fee.

Source :www.MortgagesAnalyzed.com

Updated: Sep 14, 2013

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Each branch location of an entity that is operating under the CRMLA License must be licensed
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