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If I have a DRE Mortgage Loan Originator (MLO) license endorsement do I need an MLO license issued by the DOC to work for a CRMLA or CFLL company?

April 26, 2017DOC DRE Endorsement issued license mlo mortgage loan Originator

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If I have a DRE Mortgage Loan Originator (MLO) license endorsement do I need an MLO license issued by the DOC to work for a CRMLA or CFLL company?

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An MLO with an ACTIVE DRE MLO license endorsement does not need a DOC MLO license to work for a CRMLA or CFLL company. However, an MLO with an INACTIVE DRE MLO license endorsement must obtain an MLO license from the DOC to work for a CRMLA or CFLL company. For currently licensed real estate salespersons, holding an ACTIVE DRE MLO license endorsement means that you are employed by a properly licensed real estate broker which holds an active MLO license endorsement as a sole proprietor, or licensed real estate corporation which holds an active MLO license endorsement. As a salesperson, once your employment with a properly licensed MLO real estate broker is terminated, your MLO status will be changed from active to inactive and you will have to obtain a MLO license from the DOC in order to continue to work for a CRMLA or CFLL company. For currently licensed real estate brokers, holding an ACTIVE DRE MLO license endorsement means that (1) you hold an active MLO license endorsement as a sol