Which two state governmental agencies oversee licensure of California mortgage loan originators?

In California, the primary agencies responsible for overseeing the licensure of mortgage loan originators are the Department of Financial Protection and Innovation (DFPI), which was formerly known as the Department of Corporations, and the Department of Real Estate (DRE). This dual system ensures that mortgage loan originators are regulated in terms of consumer protection, financial integrity, and adherence to real estate laws.

The Department of Financial Protection and Innovation supervises financial services and addresses issues related to consumer finance, including the licensing of mortgage lenders and originators. The Department of Real Estate, on the other hand, oversees real estate brokers, salespersons, and other real estate professionals. This oversight is vital as it helps maintain a high standard of practice in the mortgage and real estate sectors.

While other agencies like the Secretary of State and the Attorney General play important roles in various regulatory and legal matters, they do not specifically oversee the licensing of mortgage loan originators in California. Hence, the choice that identifies the correct agencies reflects the specialized roles that the Department of Corporations (now DFPI) and the Department of Real Estate play within the financial services and real estate industries in California.