Licensing Path

Your Licensing Path to Becoming a Cypher Partner

Wymac Capital, Inc. is a California real estate broker licensed by the California Department of Real Estate (DRE License #01121628) with an NMLS mortgage loan originator license endorsement (NMLS #18766). Every Cypher Partner is a licensed mortgage loan originator (MLO) with Wymac Capital: their California DRE license is affiliated with Wymac, and their NMLS MLO endorsement is sponsored by Wymac. Every Cypher Partner originates loans under Wymac’s DRE broker license as an independent contractor. That means holding a California DRE license with an NMLS MLO endorsement, affiliating that license with Wymac Capital, and having Wymac sponsor the endorsement in NMLS.

There are two ways to do that.

Path A: DRE Salesperson License + MLO Endorsement

Best for most CPAs, EAs and planners who are new to real estate licensing.

  1. Complete three college-level real estate courses. These are Real Estate Principles, Real Estate Practice, and one elective. Electives include Real Estate Finance, Mortgage Loan Brokering and Lending, Business Law, Legal Aspects of Real Estate, and others on DRE’s list. Each course is 3 semester units (or 4 quarter units) and at least 45 hours, from an accredited college or a DRE-approved school. Continuing education courses don’t count.
  2. Apply for and pass the DRE salesperson exam.
  3. Submit Live Scan fingerprints and your license application.
  4. Affiliate your salesperson license with Wymac Capital as your responsible broker. You’ll sign a written broker-salesperson agreement with Wymac, and DRE is notified of the affiliation.
  5. Get your NMLS MLO license endorsement (see “NMLS steps” below), with Wymac sponsoring your endorsement in NMLS.

Path B: DRE Broker License as a Broker Associate + MLO Endorsement

For professionals who already hold, or qualify for, a California broker license.

  1. Meet the experience requirement. You need one of these:
    • two years of full-time licensed salesperson experience within the last five years
    • two years of equivalent experience, documented and subject to DRE approval
    • a four-year degree with a major or minor in real estate
  2. Complete eight college-level courses.
    • Required: Real Estate Practice, Legal Aspects of Real Estate, Real Estate Finance, Real Estate Appraisal, and Real Estate Economics or Accounting.
    • Plus three more from DRE’s list. If you take both Economics and Accounting, only two more are needed.
  3. Pass the DRE broker exam, submit Live Scan fingerprints, and apply for the license.
  4. Affiliate with Wymac Capital as a Broker Associate, with a written agreement and DRE notification.
  5. Get your NMLS MLO license endorsement, sponsored by Wymac.

Have questions about how your education or experience applies? Our partner team will review your situation with you individually.

NMLS Steps (Both Paths)

  • Create an NMLS account to get your unique NMLS ID.
  • Complete 20 hours of NMLS-approved pre-licensing education: 3 hours of federal law, 3 hours of ethics, 2 hours on nontraditional mortgage lending, and 12 hours of electives.
  • Pass the National SAFE MLO Test with Uniform State Content (passing score 75%).
  • Submit the Individual (MU4) filing through NMLS. This includes fingerprints for an FBI criminal background check and authorization for a credit report.
  • Wymac Capital requests sponsorship of your MLO endorsement in NMLS. Without a sponsor, the endorsement is issued as “Approved-Inactive.”

Keeping Your License Current

  • Every year: 8 hours of NMLS-approved continuing education, then renew your MLO endorsement through NMLS (November 1 to December 31).
  • Every four years: renew your DRE license with 45 hours of DRE-approved continuing education.
  • Your DRE license must stay active for your MLO endorsement to stay valid.

How Wymac Helps

We guide you through the entire process, step by step: choosing education providers and study materials, preparing for the exams, your DRE and NMLS filings, and Wymac’s sponsorship of your MLO endorsement. Then we train you live, by Zoom or in person. Wymac does not cover licensing costs; course, exam, fingerprint and license fees are paid by the partner.

How Long It Takes

It varies with your schedule. Some partners with no prior real estate or mortgage experience have been up and running in under 90 days, but most take about 4 to 6 months.

Requirements are set by the California DRE and NMLS and can change. Check dre.ca.gov and the NMLS Resource Center for current details.

Talk With Our Partner Team

Wymac Capital, Inc. · 346 Rheem Blvd #107, Moraga, CA 94556 (by appointment only) · Call or text 925-885-1919 · Main office 925-937-4300 · info@wymac.com
Real estate broker, California Department of Real Estate, License #01121628 · NMLS #18766 · DRE license information · NMLS Consumer Access · Equal Housing Opportunity
Cypher and RateAnalyzer are proprietary technologies of Sourcetec, Inc., licensed to Wymac Capital.

The information on these pages is for licensed and prospective financial-professional partners and is general in nature. It is not legal, tax, or compliance advice. Licensing requirements vary by state. Wymac Capital does not pay referral fees for residential mortgage loans. Cypher Partners are individually licensed mortgage loan originators who are compensated for origination work they perform.