Mortgage loan originators.

Existing law, the California Finance Lenders Law, provides for the licensure and regulation of finance lenders and brokers by the Commissioner of Business Oversight. Existing law defines a "mortgage loan originator" and specifies individuals who are not mortgage loan originators, and defines other terms for purposes of the law. Existing law provides that an employee of a bona fide nonprofit organization who exclusively originates loans for a bona fide nonprofit organization, under certain conditions as specified, is not a mortgage loan originator under the California Finance Lenders Law. This bill would make nonsubstantive changes to that provision.