Sign Up Sponsorship Instructions
Welcome to MLO Financial Group! MLO Financial Group is a dba of Money Pills Inc, a California corporation, licensed under California Finance Law (CFL) as a FINANCE BROKER company.
MLO Financial Group can sponsor and endorse all DBO licensed Loan Officers. SPONSORSHIP To be endorsed or sponsored by MLO Financial Group, the licensed Loan Officers need to complete THIS SINGLE EASY STEP:
STEP 1 - Granting Sponsorship Access Rights
Sign in to your NMLS Account to give access to: Money Pills, Inc. DBA MLO Financial Group. We will be notified immediately with a message “Access Rights have been g ranted”
The next slide is a n example of how we are notified by NMLS.
PLEASE NOTE: A DBO licensed Loan Officer IS NOT required to obtain a BRE Real Estate Sales license to engage in the mortgage lending business. Actually, a DBO mortgage license is easier to get than the BRE NMLS LO license.
STEP 2 - FILING PROCESS
Upon receiving the notification, MLO Financial Group will complete the sponsorship process for you.
Our first step is creating the relationship with the new Loan Officer.
This next step is completing the sponsorship and paying for NMLS $30 fee.
Loan Officer will need to pay the NMLS sponsorship fee of $30 (thirty dollars). This fee is not refundable. We will call you to obtain the credit card information. Once the credit card payment is cleared and accepted, the registration for sponsorship with MLO Financial Group is complete.
STEP 3 - REGISTRATION IS COMPLETE
Within 2 or 3 business days, DBO and NMLS will email you the final approval of your license. The next two slides are to show the status of an individual license and a corporation once being sponsored.
CONGRATULATIONS! - When your individual license has an ACTIVE status, or your company has a "YES" authorizing to conduct business, you are officially a licensed / sponsored DBO Loan Officer! - You can then start generating loans and GET PAID a commission as an active Mortgage Loan Originator.
DBO License Status