Requirements After a California Residential Mortgage Lender and/or Servicer License Has Been Issued

Reporting Requirements

The following reports must be submitted by all CRMLA licensees by the due date noted.

CRMLA Annual Report, Due March 1

See CRMLA Annual Report FAQs for more details.

Residential Mortgage Loan Report (also called Holden Act Report), Due March 31

See Holden Act Report FAQs for more details.

Mortgage Call Report, Due 45 days after the end of each quarter.

Every licensee must file the Mortgage Call Report on NMLS each quarter. Please refer to the NMLS Resource Center.

Audited Financial Statements, Due within 105 days of end of fiscal year:

All licensees must submit audited financial statements within 105 days of the end of its fiscal year. The audited financial statements must document that the licensee maintains tangible net worth of $250,000. The audited financial statements must be posted on NMLS.

CRMLA Annual Assessment Increase

On or before the 30th day of September of each year, the Department will assess each licensee the cost and expenses reasonably incurred in the administration of CRMLA. The amount of increased assessment is $3,000, with no lending activity and $15,000 for each licensee’s lending, brokering and servicing activity as reported on the annual report for the previous calendar year. The increase is following the Governor’s signing of AB 137 on June 30, 2025. Licensees are reminded to budget accordingly for the annual assessment.

Surety Bond Requirements

CRMLA licensees who make and/or service residential mortgage loans will be required to maintain a surety bond that covers the activities of the MLOs they employ. The bond amount will be based on the amount of origination and/or servicing activities conducted by the licensee in the preceding calendar year, as follows:

Surety Bond Requirements

Net Worth Requirements

Each licensee is required to maintain tangible net worth of at least $250,000 at all times. (California Financial Code Section 50201)

Regulatory Examination

Each licensee is subject to a regulatory examination by the Department at any time whether or not any business has been conducted pursuant to the license. The licensee is responsible for the actual cost, including travel expenses, of the regulatory examination.

The Department is statutorily required to conduct an examination at least once every 48 months, but may conduct an examination as often as deemed necessary and appropriate.