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.
Time-Saving Tip: You Can Complete the DRE and NMLS Tracks Simultaneously.
You do not have to wait until your California DRE license is issued before starting your NMLS requirements. You can request your personal NMLS account, complete the 20-hour NMLS SAFE pre-licensing course, and pass the National SAFE MLO exam at the same time you are completing your DRE coursework and exam. All required courses can be taken online.
There are two ways to complete your California DRE licensing:
Path A: DRE Salesperson License + MLO Endorsement
Best for most CPAs, EAs and planners who are new to real estate licensing.
- Complete three college-level real estate courses. Each course must be 3 semester units (or 4 quarter units) and at least 45 hours from an accredited college or a DRE-approved school (continuing education courses do not count):
- Real Estate Principles (required)
- Real Estate Practice (required)
- One DRE-approved elective course chosen from the 12 statutory subjects on DRE’s list:
- General Accounting
- Business Law
- Real Estate Finance
- Mortgage Loan Brokering and Lending
- Legal Aspects of Real Estate
- Real Estate Economics
- Real Estate Appraisal
- Property Management
- Real Estate Office Administration
- Escrows
- Computer Applications in Real Estate
- Common Interest Developments
Note for CPAs, EAs, Attorneys, and Business Graduates: If you have already completed a qualifying college-level course in General Accounting, Business Law, Real Estate Finance, or Economics at an accredited college or university, your official college transcript may satisfy the elective course requirement, meaning you only need to take Real Estate Principles and Real Estate Practice.
- Apply for and pass the DRE salesperson exam, and submit Live Scan fingerprints. You can submit the combined DRE Form RE 435 (Salesperson Exam/License Application) along with DRE Form RE 237 (Live Scan Service Request) so your license can issue promptly once you pass the exam.
- 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.
- 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 real estate broker license.
- Meet the experience or degree requirement. You need one of these:
- Two years of full-time licensed salesperson experience within the last five years
- Two years of general real estate or equivalent experience, documented and subject to DRE approval
- A four-year college degree from an accredited institution with a major or minor in real estate
- Complete eight college-level courses.
- Required five courses: Real Estate Practice, Legal Aspects of Real Estate, Real Estate Finance, Real Estate Appraisal, and either Real Estate Economics or General Accounting.
- Plus three more courses from the 12 statutory DRE subjects listed above (if you complete both Real Estate Economics and General Accounting, only two additional electives are needed).
- Pass the DRE broker exam, submit Live Scan fingerprints, and apply for the license.
- Affiliate with Wymac Capital as a Broker Associate, with a written agreement and DRE notification (DRE Form RE 216B).
- Get your NMLS MLO license endorsement, sponsored by Wymac.
Have questions about how your college transcripts, professional designations, or experience apply? Our partner team will review your situation with you individually.
NMLS Steps (Both Paths: Can Be Completed Concurrently With DRE)
- Create an individual account on the NMLS Resource Center to get your unique NMLS ID.
- Complete 20 hours of NMLS-approved SAFE pre-licensing education (including 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, including electronic fingerprints for an FBI criminal background check and authorization for a credit report.
- Wymac Capital submits sponsorship of your MLO endorsement in NMLS once your DRE license and NMLS requirements are approved.
Keeping Your License Current
- Every year: 8 hours of NMLS-approved continuing education, then renew your MLO endorsement through NMLS between November 1 and December 31.
- Every four years: renew your DRE license with 45 hours of DRE-approved continuing education.
- Your DRE license must stay active and affiliated for your MLO endorsement to remain valid.
How Wymac Helps
We guide you through the entire process, step by step: reviewing your transcripts for elective credit, recommending approved online course and exam-prep providers, walking you through your DRE and NMLS filings, and sponsoring your MLO endorsement. Once licensed, 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. Because the DRE and NMLS tracks can be taken simultaneously, some partners with no prior real estate or mortgage experience have been fully licensed and up and running in under 90 days, while most take about 4 to 6 months working around their practice.
Requirements and filing fees are set by the California Department of Real Estate (DRE) and NMLS and are subject to change. Check dre.ca.gov and the NMLS Resource Center for current details.
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.