(a)No person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner.
(b)Every licensee engaging in the business of making or brokering residential mortgage loans shall require that every mortgage loan originator employed or compensated by that licensee obtains and maintains a mortgage loan originator license from the commissioner under this division or Division 20 (commencing with Section 50000), or has first obtained a license endorsement from the Commissioner of Real Estate pursuant to Article 2.1 (commencing with Section 10166.01) of Chapter 3 of Part 1 of Division 4 of the Business and Professions Code.
(c)A finance lender or broker shall not employ a mortgage loan originator whose license or license endorsement has lapsed.
(d)A finance lender or broker may not make or broker a residential mortgage loan unless that loan is offered by, negotiated by, or applied for through a licensed mortgage loan originator.
(e)Every licensee engaged in the business of making or brokering residential mortgage loans and every mortgage loan originator licensed under this division shall register with and maintain a valid unique identifier issued by the Nationwide Mortgage Licensing System and Registry.
(f)An individual shall not engage in the business of a mortgage loan
originator with respect to any dwelling located in this state without first obtaining and maintaining annually a license in accordance with the requirements of this division and any rules promulgated by the commissioner under this chapter.
(g)A registered mortgage loan originator, as defined in subdivision (c) of Section 22013, is exempt from licensure under this section when he or she is employed by:
(1)A depository institution.
(2)A subsidiary of a depository institution that is owned and controlled by a depository institution and regulated by a federal banking agency.
(3)An institution regulated by the Farm Credit
Administration.
Notes of Decisions
Lagrisola v. North Am. Fin. Corp. (Cal. Ct. App. 2023).
· cites it 3× “2 In the first cause of action, they allege that NAFC violated Business and Professions Code section 17200 by engaging in unlicensed lending in violation of Financial Code sections 22100 and 22751. They contend that NAFC earned “illegal interest” by engaging in this unlawful…”
Rieger v. Barrett CA4/1 (Cal. Ct. App. 2020).
· cites it 2× “(Fin. Code, § 22100, subds. (a), (d).) Moreover, Barrett had not shown any willful violation of the financing statutes or actual damages.”
Paniagua v. Milestone Fin., LLC CA1/2 (Cal. Ct. App. 2021).
· cites it 2× “For the latter point, defendants argue the license generally required for finance lenders or brokers (Fin. Code, §§ 22100) is not required for loans made or arranged by a licensed real estate broker and secured by a lien on real property (Fin.”
Raceway Props., LLC v. LSOF Carlsbad Land L.P., 157 F. App'x 959 (9th Cir. 2005).
· cites it 3× “Raceway alleges that LSOF engaged in unlawful business practices through usury, fraud, and making a loan without a license in violation of California Financial Code § 22100. Because we affirm the dismissal of Raceway’s usury claim on the merits, we need not address usury as an…”
Jeong v. Nexo Fin. LLC (N.D. Cal. 2022).
“California Financial Code § 22100(a) provides that “[n]o person shall engage 2 in the business of a finance lender or broker without obtaining a license from the commissioner.”
Belyea v. GreenSky, Inc. (N.D. Cal. 2023).
“” Cal. Fin. Code § 22100 . Plaintiffs allege GreenSky is “not licensed as a 5 finance lender” and therefore violates various provisions of the California Financing Law.”
Grissom v. Dealer Servs. CA4/3 (Cal. Ct. App. 2014).
“) Grissom argues that because DSC violated the portion of the California Finance Lenders Law that requires a lender to be licensed by the State of California (Fin. Code, § 22100, subd. (a)), the contract between DSC and Grissom was void and unenforceable, citing Financial Code…”
Cal. Financial Code § 22100(a): 1 case
Jeong v. Nexo Fin. LLC (N.D. Cal. 2022).
“California Financial Code § 22100(a) provides that “[n]o person shall engage 2 in the business of a finance lender or broker without obtaining a license from the commissioner.”
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