Which regulatory body is responsible for the oversight of mortgage brokers in California?

The Department of Real Estate has the primary responsibility for regulating mortgage brokers in California. This entity oversees a wide range of real estate activities, including the licensing and conduct of mortgage brokers. The Department ensures that these professionals adhere to state laws and regulations, maintaining standards that protect consumers in real estate transactions.

The oversight includes administering licensing exams, responding to consumer complaints, and enforcing compliance with California's real estate laws. This regulatory framework fosters a fair and orderly marketplace for real estate financing, thereby building consumer trust and protecting financial interests.

While other entities mentioned may have roles related to real estate or mortgage activities, such as the Department of Corporations or the Federal Housing Administration, they do not primarily regulate mortgage brokers in California. The Department of Corporations typically handles financial institutions and certain licensing issues, while the Federal Housing Administration's focus is more on providing mortgage insurance and guidelines rather than state-level regulation.