Any person engaging in the transaction of mortgage guaranty insurance with or on behalf of a mortgage guaranty insurer is subject to the provisions of Chapter 5, Part 2, Division 1 (commencing at Section 1621) of the Insurance Code. Any person not exempt from licensing pursuant to the provisions of such chapter shall obtain the requisite fire and casualty license pursuant thereto before engaging in any such transaction.
Cal. Code Regs. Tit. 10, § 2520