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It clarifies how to approach general business practices, trust fund handling, borrower disclosures, advertising, fees, advance fees, and specific loan categories governed by Financial Code sections. The manual emphasizes that statutory law and regulations take precedence over the guidance, and directs questions to the Department’s Mortgage Loan Activities unit.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/mortgage-loan-broker-compliance-evaluation-manual-re-7-rev-0519/646396/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/mortgage-loan-broker-compliance-evaluation-manual-re-7-rev-0519/646396.png","ImageObject",300,407,{"name":92,"@type":93},"The weather in my hometown","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-24","2026-10-23",true,{"@type":102,"interactionType":103,"userInteractionCount":8},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What should brokers do if the manual conflicts with California Real Estate Law or regulations?","Question",{"text":112,"@type":113},"The law and regulations take precedence over the manual. Use the manual as a tool for reviewing business practices and record keeping related to mortgage loan activity.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What licenses are required for a broker to perform mortgage loan activities in California?",{"text":117,"@type":113},"A California real estate broker license is required for mortgage loan activities. For residential mortgage loan origination, mortgage loan originator endorsements to the real estate broker are also required.",{"name":119,"@type":110,"acceptedAnswer":120},"What compliance procedure does the manual recommend for monitoring license expiration for salespersons and broker-associates?",{"text":121,"@type":113},"Brokers should have a procedure to monitor expiration dates. Standard broker and salesperson licenses expire four years after issuance, while mortgage loan originator endorsement licenses expire every December 31, and expired licenses cannot be used for licensed activity until renewed.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},646396,1792833318,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":8,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145},1374408744247,"https://ap-avatar.wpscdn.com/avatar/14001251d37d565ec6f?x-image-process=image/resize,m_fixed,w_180,h_180&k=1790672120290115972","Mortgage Loan Broker Compliance Evaluation Manual  \nRE 7 (Rev. 05/19)  \nTable of Contents  \nSECTION 1 – General Business Practices .......................................................................................................2  \nSECTION 2 – Trust Fund Handling .................................................................................................................4  \nSECTION 3 – Borrower Disclosures................................................................................................................4  \nSECTION 4 – Advertising ................................................................................................................................5  \nSECTION 5 – Fees ...........................................................................................................................................6  \nSECTION 6 – Advance Fees ............................................................................................................................7  \nSECTION 7 – Article 7-Regulated Loans ......................................................................................................7  \nSECTION 8 – Article 5-Private Money Transactions ....................................................................................8  \nSECTION 9 – Article 6 – Multi-Lender (Fractionalized) Loans......................................................................13  \nSECTION 10 – Business Activity and Mortgage Call Reports ........................................................................16  \nSECTION 11 – Covered Loans-Financial Code Section 4970 et seq............................................................17  \nSECTION 12 – Higher-Priced Mortgage Loans-Financial Code Section 4995 et seq...................................20  \nSECTION 13 – Residential Mortgage Loan Report (RE 857) .........................................................................20  \nSECTION 14 – Licensees Acting as Lenders ...................................................................................................21  \nSECTION 15 – Nontraditional Mortgage Loan Products.................................................................................21  \nMortgage Loan Broker Compliance Checklist .................................................................................................22  \nIntroduction  \nThis Mortgage Broker Compliance Evaluation Manual was prepared primarily to assist the real estate broker who engages in mortgage loan activities to assess compliance with Department of Real Estate (“Department”)  \nrequirements. It addresses many of the questions that are asked of Department staff.  \nIf there is any conflict between this manual and the Real Estate Law and/or Regulations of the Real Estate Commissioner, the law and regulations will take precedence. This manual was not designed to include all of a broker’s obligations and responsibilities under the Real Estate Law but rather as one of the tools to be used when reviewing business practices and record keeping procedures related specifically to a broker’s mortgage loan activity. This manual should be used in conjunction with the Broker Compliance Evaluation Manual (RE 5), which covers broader licensing and compliance topics.  \nUnless otherwise noted, all “Section” references are to the Business and Professions Code and “Regulation”references are to the Regulations of the Real Estate Commissioner. Applicable laws and regulations can be found in the Real Estate Law Book, available on the Department’s Web site [at www.dre.ca.gov](at www.dre.ca.gov).  \nQuestions regarding information contained in this manual should be directed to the Department’s Mortgage Loan Activities unit at (877) 373-4542.  \nSECTION 1 – General Business Practices  \nA. Is the broker properly licensed?  \nCorrect Procedure:  \nA California real estate broker license is required in order to perform mortgage loan activities in California. In addition, in order to perform residentia","cbCaivRECtHpQxuQ","https://ap.wps.com/l/cbCaivRECtHpQxuQ","pdf",908417,28,"English","# SECTION 1 – General Business Practices\n# SECTION 2 – Trust Fund Handling\n# SECTION 3 – Borrower Disclosures\n# SECTION 4 – Advertising\n# SECTION 5 – Fees\n# SECTION 6 – Advance Fees\n# SECTION 7 – Article 7-Regulated Loans\n# SECTION 8 – Article 5-Private Money Transactions\n# SECTION 9 – Article 6 – Multi-Lender (Fractionalized) Loans\n# SECTION 10 – Business Activity and Mortgage Call Reports\n# SECTION 11 – Covered Loans-Financial Code Section 4970 et seq\n# SECTION 12 – Higher-Priced Mortgage Loans-Financial Code Section 4995 et seq\n# SECTION 13 – Residential Mortgage Loan Report (RE 857)\n# SECTION 14 – Licensees Acting as Lenders\n# SECTION 15 – Nontraditional Mortgage Loan Products\n# Mortgage Loan Broker Compliance Checklist\n# Introduction","[{\"question\":\"What should brokers do if the manual conflicts with California Real Estate Law or regulations?\",\"answer\":\"The law and regulations take precedence over the manual. Use the manual as a tool for reviewing business practices and record keeping related to mortgage loan activity.\"},{\"question\":\"What licenses are required for a broker to perform mortgage loan activities in California?\",\"answer\":\"A California real estate broker license is required for mortgage loan activities. For residential mortgage loan origination, mortgage loan originator endorsements to the real estate broker are also required.\"},{\"question\":\"What compliance procedure does the manual recommend for monitoring license expiration for salespersons and broker-associates?\",\"answer\":\"Brokers should have a procedure to monitor expiration dates. Standard broker and salesperson licenses expire four years after issuance, while mortgage loan originator endorsement licenses expire every December 31, and expired licenses cannot be used for licensed activity until renewed.\"}]","Mortgage Loan Broker Compliance Evaluation Manual - RE 7 - Rev. 05/19 | PDF",1792760302,71]