The California Department of Business Oversight (CA-DBO) has informed NMLS that in accordance with recently enacted California legislation, individuals seeking to obtain a MLO license with CA-DBO will be required to complete two (2) hours of California DBO-specific PE effective January 1, 2015. This requirement is in addition to the existing PE requirements in California. The total number of PE hours required in California has not increased, but the course content requirements have changed to effectively replace what was a required general elective with an agency-specific elective. Additionally, MLOs seeking to maintain an MLO license will be required to complete one (1) hour of California DBO-specific CE as a condition for licensure renewal also effective January 1, 2015. The total number of CE hours required in California has not increased, but the course content requirements have changed to effectively replace what was a required general elective with an agency-specific elective.
NMLS has posted an Education Notice for CA-DBO explaining in detail the new education requirement. Course providers intending to offer courses to meet the new requirement need to pay close attention to the details contained in the notice. The notice may be found on the course provider section of the NMLS Resource Center under the section Important Policy Information.
It should be noted that there is currently no change in the education requirements for individuals seeking to acquire and/or to maintain the MLO endorsement with CA-BRE.