California Form RE 851 is the Mortgage Loan Activity Report (also called the Threshold Notification / Mortgage Loan Report) that California-licensed real estate brokers must file with the California Department of Real Estate whenever their mortgage loan activity crosses the thresholds set by Business and Professions Code §10232. The form tells the DRE that a broker has become a “threshold broker,” which triggers added reporting, trust-fund accounting, and audited-financial requirements.
Filers should always confirm they are using the current revision posted on the DRE forms page before submitting, because outdated revisions are rejected on intake. According to the DRE’s Mortgage Loan Bulletin, several hundred brokers cross the threshold each year, and missed or late RE 851 filings are among the top five compliance citations issued by DRE audit staff.
- 📋 What RE 851 actually reports and which brokers must file it under §10232
- 🧾 A line-by-line walkthrough of every box, with example entries and common mistakes
- 👥 Three real-world filer scenarios showing exactly what to enter in each section
- 📬 Every filing channel (mail, in-person, fax, eLicensing notifications), with addresses and timing
- ⚖️ Penalties, audit triggers, and how RE 851 connects to the RE 853 Trust Fund Status Report
What California Form RE 851 Is and Who Must File It
Form RE 851 is the notice a California real estate broker sends to the DRE under Business and Professions Code §10232 when, within any 12-month period, the broker negotiates 10 or more loans (or performs other regulated mortgage activity) totaling more than $1,000,000, or 20 or more loans regardless of dollar amount, or any combination that meets the threshold. The DRE uses RE 851 to flag the broker as a “threshold broker,” which then triggers the quarterly Trust Fund Status Report (RE 853) and the annual Business Activities Report (RE 881) under §10232.25.
The form must be filed by any individual broker, corporate broker, or corporate designated officer responsible for mortgage loan activities subject to Article 5 and Article 7 of Chapter 3 of the Real Estate Law. Salespersons do not file RE 851 directly because their activity flows up to the responsible broker. A broker who has not yet crossed the threshold but reasonably expects to within the next reporting period is also expected to file in advance, per DRE guidance in the Mortgage Loan Activities FAQ.
The form intersects with federal law because brokers who arrange consumer-purpose mortgages must also hold an NMLS Mortgage Loan Originator endorsement under the federal SAFE Act, and threshold status often correlates with the Regulation Z higher-volume thresholds. Filing RE 851 does not satisfy those federal duties — it only satisfies state-level reporting under California law.
Before You Start: Documents and Information You Need
Gather everything below before opening the PDF because the DRE will not accept a form filed with blanks, estimates, or “TBD” entries. A missing data point is the single most common reason RE 851 filings are returned, according to the DRE’s published rejection notices in the Mortgage Loan Bulletin.
- Broker license ID number. Your 8-digit DRE license number is required at the top; without it, the form cannot be matched to your record and will be returned.
- Corporate license number (if applicable). Corporate brokers must list both the corporate license and the designated officer’s individual license.
- Mailing address of record. This must match what the DRE has on file in eLicensing; a mismatch triggers an address-verification hold.
- Fiscal year-end date. RE 851 is tied to the broker’s fiscal year, not the calendar year, and the wrong date misroutes future RE 853 filings.
- Loan counts and dollar totals for the prior 12 months. You need the exact number of loans negotiated, made, or serviced, plus aggregate dollar volume.
- Multi-lender transaction counts. Any loans funded by more than one lender under §10238 must be counted separately.
- Trust account information. The bank name, account number, and balance as of the threshold crossover date.
- Date the threshold was crossed. This anchors the 30-day clock under §10232(c).
- Designated officer signature authority. For corporate filers, the DO must personally sign — a salesperson signature voids the filing.
- A copy of your most recent trust fund reconciliation. This is not attached but must match the figures you report.
Where to Get the Form and How to Access It
The official, current revision of Form RE 851 is hosted as a fillable PDF on the DRE Forms library, and the file name follows the pattern re851.pdf. Always download a fresh copy each filing cycle because the DRE periodically updates the form’s revision date in the lower-left footer, and submitting an outdated revision results in rejection. The form is free, and no DRE account is required to download it.
Brokers who prefer paper can request a mailed copy by writing to the DRE’s Sacramento headquarters at P.O. Box 137003, Sacramento, CA 95813-7003, but the turnaround is typically two to three weeks, so the PDF route is faster. Public libraries in California also keep DRE forms on file under their government documents collections, though their copies may lag the current revision.
If you use compliance software such as a mortgage broker management system, confirm that the embedded RE 851 template matches the most recent DRE revision date. Vendor templates have been known to lag the DRE by 6–12 months, which means a software-generated form can be technically out of date even when freshly printed. Cross-check the footer revision date against the Forms page every time.
Step-by-Step: How to Fill Out California Form RE 851 Line by Line
Work through the form top to bottom in the order printed, using the exact field names from the official PDF on dre.ca.gov. Use black ink if filling by hand, or type directly into the fillable PDF, because blue ink and pencil entries are rejected at intake under DRE document-handling standards.
Field 1: Broker Name (Last, First, Middle)
This field asks for the licensed broker’s full legal name exactly as it appears on the DRE license certificate. Enter the last name first, then a comma, then the first name, then the middle name or initial — all in capital letters to match DRE database formatting. For example, Maria Lopez writes LOPEZ, MARIA ELENA in the broker name box.
If the broker uses a “doing business as” (DBA) or fictitious business name, that DBA does not go in this field. The DBA belongs in the separate “Business Name” line further down. A common mistake is writing the DBA here, which causes the DRE to bounce the form because the name will not match the licensee record.
The misconception many filers carry is that a recently married broker can use the new married name immediately. The DRE only recognizes the name on file, so until the broker submits an RE 204 name-change request, the prior legal name must appear here.
Field 2: Broker License ID Number
This field asks for your unique 8-digit DRE real estate broker license number, which appears on your physical license certificate and inside eLicensing. Enter the digits with no dashes, no spaces, and no leading letters — just the eight numerals. 01234567 is a properly formatted entry.
If you hold both a salesperson license and a broker license, use only the broker number, because RE 851 is a broker-only filing under §10232. Entering the wrong license type routes the form to the wrong DRE division and creates a multi-week delay.
A common mistake is transposing two digits, which causes the DRE’s system to either reject the form outright or, worse, attach it to a different licensee’s record. The misconception is that the DRE will “look up” the broker by name if the number is wrong, but DRE intake is keyed off the license number first, not the name.
Field 3: Corporate License Number (if applicable)
This field asks corporate brokers for the entity-level corporate broker license number, which is separate from the individual designated officer’s license. Enter the 8-digit corporate license number, again with no dashes or spaces. 02345678 is a correct entry for a corporate broker.
Sole proprietors leave this field blank, but they should not write “N/A” or draw a line through it, because DRE scanners can misread filler characters as digits. Leaving the box truly empty is the correct treatment.
The common mistake is for a corporate broker to enter only the designated officer’s individual license here and leave the corporate number out. That triggers an automatic rejection because §10232(d) requires identification of the corporate licensee. The misconception is that corporate and individual licenses are interchangeable; they are not.
Field 4: Business Name / DBA
This field asks for the fictitious business name under which the broker conducts mortgage loan activities, if different from the legal name. Enter the DBA exactly as it appears on the RE 247 fictitious business name filing. For example, SUNSET LENDING GROUP is a properly registered DBA entry.
If the broker operates only under their legal name, leave this field blank. The nuance is that unregistered DBAs cannot be used here — a DBA must already be on file with the DRE via RE 247 before it can appear on RE 851.
A common mistake is listing a marketing brand name that was never registered, which the DRE flags as an unauthorized name. The consequence is a citation under §10159.5 for using an unregistered fictitious name. The misconception is that any name on a website or business card automatically counts as a DBA, which is false.
Field 5: Main Office Mailing Address
This field asks for the broker’s address of record, which is the address the DRE uses for all official correspondence. Enter the street address, city, state, and ZIP code on the lines provided, with the street address on the first line and city/state/ZIP on the second. 4521 Wilshire Blvd, Los Angeles, CA 90010 is a correctly formatted entry.
If the broker uses a P.O. Box, the DRE still requires a physical street address for service of process, so include both lines. The nuance is that DRE rules under Commissioner’s Regulation 2715 prohibit a P.O. Box as the sole address of record.
A common mistake is updating the address on RE 851 without separately filing an RE 204 address change. The DRE treats RE 851 as a notification only, not an address-update mechanism, so the broker must file both. The misconception is that the DRE will sync the address automatically — it will not.
Field 6: Telephone and Email
This field asks for the broker’s main business phone number and email address used for DRE correspondence. Enter the phone in (555) 123-4567 format and the email in lowercase, such as broker@sunsetlending.com. The DRE uses both to send audit notices and trust-fund deficiency letters.
The nuance is that a personal email is acceptable for sole proprietors, but corporate brokers should use a monitored business email, because missed DRE emails are not a defense to a missed deadline. Many disciplinary actions cite “failure to respond” when notices went to an unmonitored address.
A common mistake is using a personal cell phone that the broker later changes without updating the DRE. The consequence is missed audit appointments, which can escalate to a §10177(d) violation. The misconception is that “the DRE will call back” — they will not, and the burden stays on the broker.
Field 7: Fiscal Year-End Date
This field asks for the last day of the broker’s fiscal year, which sets the timing for all downstream threshold reports. Enter the date in MM/DD/YYYY format, such as 12/31/2026 for calendar-year filers or 06/30/2026 for a June fiscal year.
The nuance is that once a fiscal year-end is reported, it locks in the timing for the RE 853 Trust Fund Status Report (due within 30 days after each quarter’s end) and the RE 881 Business Activities Report (due within 90 days after fiscal year-end). Changing the fiscal year later requires a separate written notification.
A common mistake is entering the date the form is being filled out instead of the broker’s fiscal year-end. The consequence is that all future quarterly reports are timed incorrectly, leading to late-filing citations. The misconception is that fiscal year always means calendar year — it does not.
Field 8: Date Threshold Was Crossed
This field asks for the exact date on which the broker first met the §10232 threshold during the most recent 12-month look-back. Enter the date in MM/DD/YYYY format. For example, if the 10th qualifying loan closed on March 14, 2026, enter 03/14/2026.
The nuance is that the date is the closing date of the loan that pushed the broker over, not the application date and not the date the broker realized the threshold had been crossed. The 30-day filing clock under §10232(c) runs from this date.
A common mistake is back-dating or rounding this entry to the start of the month, which the DRE flags as inaccurate during audit. The consequence is a finding of late filing even if the form arrives within 30 days of the rounded date. The misconception is that “approximate” dates are acceptable; they are not.
Field 9: Loan Counts and Dollar Volume (Prior 12 Months)
This field asks for the number of loans negotiated, made, arranged, or serviced in the prior 12 months, broken into sub-boxes by activity type, plus aggregate dollar volume. Enter whole numbers for counts and dollar amounts rounded to the nearest dollar with no commas inside the PDF fields. 14 loans totaling $3,250,000 is a proper entry.
The nuance is that multi-lender loans under §10238 count separately and require an extra sub-entry, because they trigger additional disclosure duties. Loans that were merely referred out, with no compensation to the broker, do not count.
A common mistake is double-counting a single loan that the broker both negotiated and serviced. The DRE wants each loan counted once under its primary activity. The misconception is that refinances of the broker’s own prior loans are exempt — they are not.
Field 10: Trust Account Information
This field asks for the bank name, branch, account number, and balance of the broker’s mortgage trust account as of the threshold crossover date. Enter the bank’s legal name (not the marketing name), the account number in full, and the balance to the cent. Wells Fargo Bank N.A., Account #1234567890, Balance $87,432.18 is a correct entry.
The nuance is that the trust account must be a California-based, FDIC-insured demand account under Commissioner’s Regulation 2832; savings accounts and out-of-state accounts are not permitted. Brokers with multiple trust accounts must list all of them, attaching a separate sheet if needed.
A common mistake is reporting the operating account instead of the trust account. The consequence is an immediate audit referral because it suggests the broker may be commingling. The misconception is that personal checking can serve as a trust account in a pinch — that is a §10145 violation.
Field 11: Designated Officer Information (Corporate Filers)
This field asks corporate brokers for the name and license number of the designated officer who is personally responsible for mortgage loan activities under §10211. Enter the DO’s full legal name and 8-digit license number. CHEN, DAVID — License #01987654 is a correct entry.
The nuance is that the DO must be a current officer of the corporation listed in the Secretary of State Statement of Information, not merely an employee. If the DO has changed since the last DRE filing, the corporation must first file an RE 204A before RE 851.
A common mistake is listing a branch manager instead of the corporate DO. The consequence is rejection because only the DO has signature authority under §10211. The misconception is that any licensed broker employee can sign on the corporation’s behalf — only the DO can.
Field 12: Certification and Signature
This field asks the broker (or DO) to certify under penalty of perjury that the information is true and correct, then sign and date the form. Sign in black ink if filing on paper, or apply a DRE-accepted digital signature if filing electronically where permitted. Date in MM/DD/YYYY format.
The nuance is that the signature must be the same name as in Field 1 — initials, nicknames, or printed names are not signatures. False statements here expose the signer to perjury liability under Penal Code §118 and license discipline under §10177(a).
A common mistake is having a bookkeeper or assistant sign for the broker. The consequence is automatic rejection and possible referral for unauthorized practice. The misconception is that an electronic signature image is always acceptable; the DRE only accepts certain digital signature formats, and a pasted JPEG is not one of them.
Three Filled-Out Examples Using Real Scenarios
The three scenarios below walk three different filers through the most important boxes on RE 851, using realistic data that mirrors actual DRE audit findings published in the Mortgage Loan Bulletin. Each filer is treated as a named individual so readers can map the entries to their own facts.
Scenario 1: Maria Lopez — Sole Proprietor Who Just Crossed the Threshold
Maria is a one-person mortgage broker in Long Beach who closed her 11th qualifying loan on March 14, 2026, pushing her over the §10232 threshold for the first time.
| Form Section | What Maria Enters |
|---|---|
| Field 1 — Broker Name | LOPEZ, MARIA ELENA |
| Field 2 — Broker License ID | 01234567 |
| Field 3 — Corporate License | (left blank) |
| Field 4 — Business Name / DBA | LOPEZ MORTGAGE SERVICES |
| Field 5 — Mailing Address | 4521 Atlantic Ave, Long Beach, CA 90807 |
| Field 7 — Fiscal Year-End | 12/31/2026 |
| Field 8 — Threshold Date | 03/14/2026 |
| Field 9 — Loan Counts / Volume | 11 loans, $2,475,000 aggregate |
| Field 10 — Trust Account | Bank of America N.A., #9876543210, $42,150.00 |
| Field 12 — Signature | Maria E. Lopez, 03/28/2026 |
Scenario 2: David Chen — Designated Officer of a Corporate Broker
David is the designated officer of Sunset Lending Group, Inc., a Los Angeles corporate broker that closed its 25th loan in Q1 2026 and routinely arranges multi-lender transactions under §10238.
| Form Section | What David Enters |
|---|---|
| Field 1 — Broker Name | CHEN, DAVID WEI |
| Field 2 — Broker License ID | 01987654 |
| Field 3 — Corporate License | 02345678 |
| Field 4 — Business Name / DBA | SUNSET LENDING GROUP, INC. |
| Field 5 — Mailing Address | 800 Wilshire Blvd, Suite 1200, Los Angeles, CA 90017 |
| Field 7 — Fiscal Year-End | 06/30/2026 |
| Field 8 — Threshold Date | 02/09/2026 |
| Field 9 — Loan Counts / Volume | 25 loans, $14,800,000 (incl. 6 multi-lender) |
| Field 10 — Trust Account | JPMorgan Chase Bank N.A., #5544332211, $312,667.45 |
| Field 11 — Designated Officer | CHEN, DAVID — License #01987654 |
| Field 12 — Signature | David W. Chen, 02/20/2026 |
Scenario 3: Janet Park — Established Broker Filing After a Quiet Year
Janet is an Oakland broker who crossed the threshold years ago but slipped under it last cycle; she crossed back over on November 2, 2026 and must refile RE 851 to reactivate threshold status.
| Form Section | What Janet Enters |
|---|---|
| Field 1 — Broker Name | PARK, JANET SOO-YOUNG |
| Field 2 — Broker License ID | 01445566 |
| Field 3 — Corporate License | (left blank) |
| Field 4 — Business Name / DBA | BAY AREA HOME LOANS |
| Field 5 — Mailing Address | 1901 Harrison St, Oakland, CA 94612 |
| Field 7 — Fiscal Year-End | 12/31/2026 |
| Field 8 — Threshold Date | 11/02/2026 |
| Field 9 — Loan Counts / Volume | 13 loans, $4,120,000 aggregate |
| Field 10 — Trust Account | East West Bank, #7788990011, $61,500.00 |
| Field 12 — Signature | Janet S. Park, 11/18/2026 |
How to File the Completed Form
The DRE accepts RE 851 through several channels, but each one has its own timing, proof-of-filing, and accepted format rules. Pick the channel that gives you a verifiable timestamp, because the burden of proving on-time filing always rests on the broker under §10232(c).
- By mail (preferred). Mail to the DRE Mortgage Loan Activities Unit, P.O. Box 137003, Sacramento, CA 95813-7003. There is no filing fee. Use USPS Certified Mail with Return Receipt so the postmark serves as proof; expect processing in 3–4 weeks.
- In person. Hand-deliver to the DRE Sacramento headquarters at 1651 Exposition Blvd, Sacramento, CA 95815. Ask for a date-stamped intake receipt; processing typically completes in 2–3 weeks.
- By fax (backup only). Some DRE units accept fax filings at numbers listed in the current DRE Contact directory, but confirm acceptance by phone first and keep the fax confirmation as proof.
- Through eLicensing notifications. While RE 851 itself is not yet a fully online form, you can confirm receipt and status through eLicensing, which becomes the digital proof-of-filing tied to your license record.
No payment method is needed because RE 851 has no filing fee. Keep a signed copy of the form, the certified mail receipt or intake stamp, and a screenshot of any eLicensing status update for at least four years, which matches the DRE audit look-back window under Regulation 2729.
What Happens After You File
Once the DRE processes RE 851, the broker’s license record is flagged as “threshold,” and the broker enters the quarterly and annual reporting cycle described in §10232.2 and §10232.25. The broker will receive a written acknowledgment by mail, typically within 30 days, confirming the threshold designation and the next RE 853 due date.
Threshold brokers are subject to enhanced DRE audit scrutiny, and many receive a desk audit notice within the first 12 months of designation. The audit reviews trust-fund handling, multi-lender disclosures under §10238, and advertising compliance. Brokers who fall back below the threshold for a full reporting cycle may petition the DRE in writing to remove threshold status, but the designation does not drop off automatically.
Federal interactions also begin once RE 851 is filed: the broker’s NMLS Mortgage Call Report data is cross-checked against RE 851 loan counts, and material mismatches can trigger inquiries from both California and federal regulators. Keeping internal loan logs that reconcile to both filings is the simplest defense.
Mistakes to Avoid When Filling Out the Form
Each mistake below is a real, documented reason RE 851 filings get rejected, delayed, or escalated to enforcement, drawn from published DRE audit summaries in the Mortgage Loan Bulletin.
- Using an outdated form revision. The DRE rejects forms whose footer revision date is no longer current, forcing a full refile.
- Writing the DBA in Field 1. The legal name field is matched against license records, and a DBA mismatch bounces the form.
- Leaving the corporate license number blank. Corporate brokers who omit Field 3 are treated as unidentified entities and rejected.
- Reporting an operating account as the trust account. This raises immediate commingling red flags and can trigger an audit referral.
- Back-dating the threshold date. Inaccurate dates lead to late-filing findings even when the form arrives quickly.
- Double-counting loans. Listing the same loan under both “negotiated” and “serviced” inflates totals and undermines credibility.
- Forgetting to sign in black ink. Pencil or blue ink signatures are not honored under DRE document-handling rules.
- Letting a non-DO sign for a corporation. Only the designated officer has signature authority under §10211.
- Skipping the trust account balance. A blank balance is treated as a zero-disclosure violation, not as “to be determined.”
- Mailing without certified tracking. Without proof of mailing date, the broker cannot rebut a late-filing finding.
- Using a P.O. Box as the only address. Regulation 2715 requires a physical address as well.
- Forgetting to file the follow-on RE 853. RE 851 alone does not satisfy quarterly trust fund reporting.
Do’s and Don’ts
The list below distills the highest-leverage habits and traps for RE 851 filers. Each point includes the reasoning so you can apply it to your own facts.
- Do download a fresh PDF each cycle because the DRE revises the form’s footer date without public announcement.
- Do file certified mail with return receipt because a postmarked tracking number is the cleanest proof of on-time filing.
- Do reconcile your loan counts to your CRM and NMLS data because mismatches across systems are a common audit finding.
- Do file RE 851 even if you expect to drop below threshold next quarter because §10232(c) requires reporting once crossed.
- Do keep a signed copy for four years because that matches DRE audit reach-back under Regulation 2729.
- Do calendar your follow-on RE 853 and RE 881 deadlines because threshold status triggers them automatically.
- Don’t sign for another broker because it is unauthorized practice and exposes both filers to discipline.
- Don’t use a personal email you rarely check because missed DRE notices are not a defense to missed deadlines.
- Don’t paraphrase field labels because the DRE intake team matches the official wording word-for-word.
- Don’t rely on vendor template forms because they often lag the DRE’s official revision date.
- Don’t ignore multi-lender counts because §10238 disclosures are tracked separately.
- Don’t combine RE 851 with an address change because address changes go through RE 204.
Pros and Cons of Filing on Your Own vs. With Help
Many small brokers complete RE 851 themselves, while larger shops route it through compliance counsel or a specialized California real estate attorney. Both paths can succeed, but the trade-offs matter.
- Pro — Self-filing saves money. There is no DRE filing fee, and avoiding outside counsel can save several hundred dollars per cycle.
- Pro — You learn your own numbers. Filling out Field 9 forces a close look at loan counts and dollar volume, which sharpens internal recordkeeping.
- Pro — Faster turnaround. Self-filers can usually file within days of crossing the threshold, while outside counsel may take a week to onboard.
- Pro — Direct DRE relationship. Self-filers handle DRE follow-ups themselves, which builds familiarity with the Mortgage Loan Activities Unit.
- Pro — Better internal compliance habits. Brokers who self-file tend to maintain tighter loan logs because they own the reconciliation.
- Con — Risk of overlooked fields. Self-filers miss multi-lender counts and trust-account specifics more often than counsel-prepared filings.
- Con — Signature and authority traps. Corporate self-filers sometimes have the wrong person sign, triggering rejection.
- Con — Less protection if audited. A self-filed form with errors is harder to defend than one prepared by counsel.
- Con — No backup calendaring. Outside counsel typically tracks the follow-on RE 853 and RE 881 deadlines.
- Con — Limited statutory analysis. Self-filers may not recognize when a borderline transaction counts toward the threshold under §10232.
RE 851 vs. RE 853: How They Compare
| Dimension | What It Means for the Broker |
|---|---|
| RE 851 — Purpose | One-time notification that the broker has crossed the §10232 threshold |
| RE 853 — Purpose | Recurring quarterly trust fund status report once threshold status is active |
| RE 851 — Frequency | Filed once per threshold crossing, plus on reactivation |
| RE 853 — Frequency | Filed every quarter, within 30 days of quarter-end |
| RE 851 — Trigger | Crossing the loan-count or dollar-volume threshold |
| RE 853 — Trigger | Active threshold designation on the broker’s record |
| RE 851 — Penalty for Missing | Citation and possible discipline under §10232.2 |
| RE 853 — Penalty for Missing | Per-quarter citations that compound across cycles |
FAQs
Do I need to file RE 851 if I only arrange business-purpose loans?
Yes. §10232 counts all qualifying mortgage loans the broker negotiates, regardless of whether they are consumer or business-purpose, so business-purpose volume still triggers the threshold.
Can I file RE 851 electronically through eLicensing?
No. As of the current revision, eLicensing is used to track threshold status and related notifications, but RE 851 itself must be submitted by mail, fax, or in person.
Is there a filing fee for RE 851?
No. The DRE does not charge a filing fee for RE 851; the form is free to download and file under §10232.
Do I write my DBA or my legal name in Field 1?
No — Field 1 requires the legal name on your DRE license; the DBA belongs in Field 4 once it is registered through RE 247.
Should I list my operating account in Field 10 if my trust account is empty?
No. Field 10 is strictly the mortgage trust account; listing the operating account suggests commingling and risks a §10145 violation.
Can a branch manager sign RE 851 for a corporate broker?
No. Only the designated officer identified in Field 11 has signature authority under §10211; any other signature voids the filing.
Do refinances count toward the §10232 threshold?
Yes. Refinances are qualifying mortgage loan transactions under §10232, even when refinancing the broker’s own prior originations.
Should multi-lender loans be listed twice in Field 9?
No. Each multi-lender loan is counted once but flagged in the multi-lender sub-entry, because §10238 tracks them separately.
Can I round the threshold date in Field 8 to the start of the month?
No. §10232(c) requires the actual closing date of the loan that crossed the threshold; rounding triggers late-filing findings.
Is RE 851 the same as the NMLS Mortgage Call Report?
No. NMLS reporting is a separate federal duty; RE 851 is California’s state-level threshold notification under §10232.
Does filing RE 851 automatically schedule a DRE audit?
No. Filing does not automatically trigger an audit, but threshold brokers are subject to enhanced scrutiny and often receive a desk audit within the first year.
Can I drop threshold status without filing anything?
No. Brokers must petition the DRE in writing once they fall below the threshold for a full reporting cycle; the Mortgage Loan Activities Unit confirms removal.
Do salespersons file their own RE 851?
No. Only brokers and corporate designated officers file RE 851; salesperson activity flows up to the responsible broker under §10131.
Is the trust account balance in Field 10 a point-in-time figure or a yearly total?
Yes — point-in-time. Field 10 asks for the balance as of the threshold crossover date in Field 8, not an annual total or average.
Related reading
- How to Fill Out California Form RE 204 (w/Examples) + FAQs
- How to Fill Out California Form RE 227 (w/Examples) + FAQs
- How to Fill Out California Form RE 4053 (w/Examples) + FAQs
- How to Fill Out California Form RE 859 (w/Examples) + FAQs
- How to Fill Out California Form RE 4521 (w/Examples) + FAQs
- How to Fill Out California Form RE 891 (w/Examples) + FAQs
- How to Fill Out California Form 100 (w/Examples) + FAQs