When considering whether an out-of-state license is a “similar license” to one issued by the Department of Real Estate for purposes of Section 115.10, the Department will assess whether that out-of-state license corresponds to the scope of Chapter 3 of the Real Estate Law, commencing with Business and Professions Code section 10130.

The Department issues mortgage loan originator license endorsements to a real estate license, but this license endorsement is not a stand-alone license. Persons with both an out-of-state real estate license and out-of-state mortgage loan originator license who seek registration with the Department must submit information regarding both licenses at the same time. Persons with a stand-alone, out-of-state mortgage loan originator license who do not also have a corresponding real estate license are not eligible to register with the Department of Real Estate under Section 2759.3.

Note: Authority cited: Sections 115.10(h) and 10080, Business and Professions Code. Reference: Sections 115.10, 10130, 10131 and 10166.02(b), Business and Professions Code.

History

1. New section filed 12-30-2024; operative 12-30-2024 pursuant to Government Code section 11343.4(b)(3) (Register 2025, No. 1).