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Which regulatory agency is responsible for licensing and supervising CRMLA lenders and servicers in California?

Correct Answer

C) The Department of Financial Protection and Innovation (DFPI)

The Department of Financial Protection and Innovation (DFPI), formerly known as the Department of Business Oversight (DBO), is the state agency responsible for licensing and supervising CRMLA lenders and servicers in California.

Answer Options
A
The California Bureau of Real Estate (CalBRE/DRE)
B
The Federal Reserve Board
C
The Department of Financial Protection and Innovation (DFPI)
D
The California Attorney General's Office

Why This Is the Correct Answer

The Department of Financial Protection and Innovation (DFPI), formerly known as the Department of Business Oversight (DBO), is the state agency responsible for licensing and supervising CRMLA lenders and servicers in California.

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