10236.4. Disclosure of License Number in Advertisement; License Number and DRE License Information Telephone Number in Disclosure Statements
Real Estate Law, Subdivided Lands Law and Vacation Ownership and Time-Share Act of 2004 As amended and in effect January 1, 2023 From the Business and Professions Code
Disclosure of License Number in Advertisement; License Number and DRE License Information Telephone Number in Disclosure Statements
10236.4. (a) In compliance with Section 10235.5, every licensed real estate broker shall also display their license number on all advertisements where there is a solicitation for borrowers or potential investors. Every mortgage loan originator, as defined in Section 10166.01, shall also display the unique identifier assigned to that individual by the Nationwide Multistate Licensing System and Registry on all advertisements where there is a solicitation for borrowers.
(b) The disclosures required by Sections 10232.4 and 10240 shall include the licensee’s license number, the mortgage loan originator’s unique identifier, if applicable, and the department’s license information telephone number.
(c) “Mortgage loan originator,” “unique identifier,” and “Nationwide Multistate Licensing System and Registry” have the meanings set forth in Section 10166.01.
Notification of End of Section 10232 Reporting Status 10236.5. A real estate broker shall notify the department when he or she is no longer servicing or arranging loans subject to the reporting requirements of Section 10232. If a broker has already made reports required by this article within the year, he or she shall continue reports for that year, but shall notify the department prior to the expiration of that year that he or she will no longer be servicing or arranging loans for which reports are required. The department’s records, including those which may be disclosed by calling the license information telephone number of the department, may then be appropriately updated.