Licensees and applicants under the California Financing Law are reminded of the following:
- Licensees under the California Financing Law not currently on NMLS must transition onto NMLS by December 31, 2021.
- New applicants under the California Financing Law may only apply through NMLS.
- Existing licensees under the California Financing Law on NMLS must convert to an electronic surety bond through NMLS.
For new applicants applying for a license through NMLS and licensees transitioning to NMLS, begin by selecting “Getting Started” from the NMLS Resource Center page. NMLS has state-specific checklists to assist new applicants and licensees transitioning onto NMLS, and FAQs for guidance on transitioning a license onto NMLS.
For licensees seeking information on converting to an electronic surety bond, background on the electronic surety bond process is available here.
All licensees not yet on NMLS must establish an account in NMLS and transmit their information to the DFPI through NMLS on or before the December 31, 2021 deadline. The time for the DFPI to process the licensee's NMLS transition does not affect the licensure status of the licensee, and may occur after the licensee's December 31, 2021 deadline to submit the licensee's information to the DFPI through NMLS.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.