California Nationwide Mortgage Licensing System (NMLS) Process Summary

Ok, now that I have completed the process I can report back on how it went.

1) Its expensive, it costs $575 as an individual and $500 as a company.  Here is a summary of the Fees:

  • $300 for the DRE to transition your license over to the NMLS
  • $39 for finger printing and FBI background check
  • $60 NMLS processing fee
  • $99 for national test
  • $69 for CA state test
  • $15 for the CA DRE to certify to the NMLS that you have completed your 20 hours of pre-licensure education as part of obtaining your DRE license

For Corps the fees are:

  • $300 to transition license from the CA department of Real Estate to the NMLS
  • $200 for NMLS processing fees

2) Outline of what you need to do

3) Thats pretty much it… When completing the MU4 it may be easier if you have a copy of your most recent resume and credit report because you are asked to complete a 10 year residence and work history.

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