What is the required surety bond amount for a CRMLA-licensed lender in California?
Correct Answer
A) $50,000
CRMLA-licensed lenders must maintain a surety bond of $50,000. This bond provides a financial guarantee to protect consumers who may be harmed by the lender's activities.
Why This Is the Correct Answer
CRMLA-licensed lenders must maintain a surety bond of $50,000. This bond provides a financial guarantee to protect consumers who may be harmed by the lender's activities.
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