The California Department of Business Oversight has notified California Financing Law licensees and California Residential Mortgage Lending Act (CRMLA) licensees of their annual assessment obligations for fiscal year 2018-2019. The assessments cover each licensee’s share of the cost of administering the programs under the California Financial Code and must be paid by October 31, 2018. The penalty for failing to timely pay an assessment is license revocation. For CRMLA licensees, notification of the assessment was provided via an NMLS invoice.