1. (a) The examination to qualify for a mortgage loan originator license endorsement shall be administered through the federal Nationwide Mortgage Licensing System and Registry and will consist of a national component and California state component. No portion of the examination is applicable, or a condition precedent, to the application required to obtain a real estate license in California.
2. (b) A person taking the examination to qualify for a mortgage loan originator license endorsement shall abide by the rules, policies, and procedures set forth by the Nationwide Mortgage Licensing System and Registry.

Note: Authority cited: Sections 10080 and 10166.17, Business and Professions Code. Reference: Sections 10150(d), 10151(e), 10166.02(b)(2), 10166.02(d) and 10166.06, Business and Professions Code.

History

1. New article 7.5 (sections 2758.1-2758.7) and section filed 2-23-2010 as an emergency; operative 2-23-2010 (Register 2010, No. 9). A Certificate of Compliance must be transmitted to OAL by 8-23-2010 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 2-23-2010 order transmitted to OAL 5-6-2010 and filed 6-29-2010 (Register 2010, No. 27).