[Kevin Henry-Seacoast]

Yeah but in the meantime it works and how long will it take the "regulators" to act I wonder?.....

Probably sooner than later and will likely penalize those that used/participated in the practice. What's so damn hard about doing business the right way???

[Olderguy]

Probably sooner than later and will likely penalize those that used/participated in the practice. What's so damn hard about doing business the right way???

Probably not enough business generated in CA to justify the effort:

In general, an applicant/licensee must:

Broker must have and maintain a $50,000 net worth; Lender/Broker must have and maintain a $250,000 net worth.
Obtain and maintain a minimum of $25,000 surety bond. The bond amount will be based on the amount of origination activities conducted by the licensee.
Have a history absent any criminal history or history of sanctions by any regulatory agency resulting from dishonesty, fraud or deceit.
Have a plan of business consistent with the business of finance lender.

[Kevin Henry-Seacoast]

Probably not enough business generated in CA to justify the effort:

In general, an applicant/licensee must:

Broker must have and maintain a $50,000 net worth; Lender/Broker must have and maintain a $250,000 net worth.
Obtain and maintain a minimum of $25,000 surety bond. The bond amount will be based on the amount of origination activities conducted by the licensee.
Have a history absent any criminal history or history of sanctions by any regulatory agency resulting from dishonesty, fraud or deceit.
Have a plan of business consistent with the business of finance lender.

If you can't meet the requirements don't conduct business there. Again, what's so hard about doing business the right way........ In a million years I would not rent out ANY license to ANYBODY.