For a California Financing Law finance lender or broker application, which statutory filing fees are identified in Financial Code section 22103?
Correct Answer
C) $100 investigation fee and $200 application fee, plus other required fingerprint or NMLS costs as applicable
Financial Code section 22103 identifies a $100 investigation fee and a $200 application fee for a CFL finance lender or broker application. Other fingerprint or NMLS processing costs may also apply.
Why This Is the Correct Answer
Financial Code section 22103 identifies a $100 investigation fee and a $200 application fee for a CFL finance lender or broker application. Other fingerprint or NMLS processing costs may also apply.
Why the Other Options Are Wrong
Option A: $500 application fee only
$100 is below the actual CFL application fee and would not cover the processing costs associated with the application review.
Option B: $1,000 investigation fee only
$200 is the fee for some other license types or branch applications but not the initial CFL finance lender application.
Option D: No California filing fees if the application is filed through NMLS
$1,000 exceeds the standard CFL application fee, though total licensing costs including bonds and other fees may approach this amount.
Memory Technique
CA -> ca-cfl-finance-lenders-brokers-licensing-records-reports
Exam Tip
CFL questions often test whether the person is lending, brokering, doing MLO activity, using a branch, meeting residential mortgage net worth and bond requirements, keeping records, filing reports, or facing DFPI examination/enforcement authority.
Common Mistakes to Avoid
- -Using a national baseline answer when California has agency-specific DFPI or DRE requirements
- -Confusing CFL, CRMLA, covered-loan, usury, servicing, and DRE endorsement rules
- -Relying on legacy California state-exam or education assumptions instead of current NMLS source pages
More UST Questions
A Washington broker provides the federal settlement service estimates and booklet in 2026 and no separate state itemization. Can disclosures compliant with RESPA and Regulation X satisfy the state third-party itemization subsection?
Priya is comparing pre-license education providers before applying for a Florida mortgage loan originator license. How many hours of approved pre-license education must she complete in total?
An applicant is budgeting for a Florida MLO license and asks what the state application fee comes to at filing. Which figure is correct?
A newly sponsored Florida MLO is told she must buy an individual surety bond in her own name before she can originate. Is that correct?
A Washington consumer loan act licensee also brokers loans in 2026 outside the authority of that act. Does the consumer-loan-act exemption extend to mortgage brokerage outside that act’s authority?
A $200,000 Texas home equity loan has $3,700 in fees subject to the constitutional cap and a separate $600 fee for an appraisal performed by a third-party appraiser. Do the capped fees exceed the limit?
An owner applies for a Texas home equity loan on 4 May 2026 and the lender delivers the required notice on 8 May. Which date starts the constitutional 12-day waiting period for closing?
An owner closed a Texas home equity loan on 3 February 2026 and wants a second one on the same homestead in November 2026. Assuming no declared-emergency exception applies and the earlier home equity lien will be paid off, may the new loan close in November?
A Texas home equity loan forecloses and the sale leaves the lender $62,000 short of the balance owed. Absent actual fraud in obtaining the credit, may the lender recover the shortfall personally from the owner or spouse?
A Washington real estate broker helps a 2026 buyer arrange financing and takes only the usual sales commission. Does financing assistance incidental to a bona fide sale for only the customary real-estate commission fall within the exemption?
People Also Study
Federal Mortgage-Related Laws
24% of exam
General Mortgage Knowledge
20% of exam
Mortgage Loan Origination Activities
27% of exam
Ethics, Fraud & Consumer Protection
18% of exam
Related Study Resources
Previous Question
A supervisor wants to avoid a New Mexico licensing error related to SAFE testing. Which statement is safest to rely on?
Next Question
Before approving the MLO sponsorship update, a Texas licensing coordinator checks continuing education and renewal. Which conclusion is best supported?