Technology is a tool not a replacement according to DRE Commisoner Chika Sunqusit

Audrey, Kevin and Chika Sunquist California Department of Real Estate, discuss NAR settlement and how the California DRE will be involved in it. She points out it will be more with regard to consumer awareness. Commissioner Sunquist mentions that the state legislature is working on some legislation as well regarding this area that may cause the DRE to get more involved. The conversation continues into complaints to the DRE and that the DRE encourages both consumers and industry professionals to put in complaints. DRE has a portal to allow for complaints and they can be anonymous. Audrey asks how the DRE is involved in LO comp. Chika explains that they are not really involved in the comp plan aspects as they are in fees paid outside of escrow and high price loans. One of the red flags that the DRE looks for is how much the broker makes on a closed loan as compared how much the loan officer or real estate sales person gets. It relates to Broker supervision and possible rent a broker situation. Chika points out that in California the clients in real estate and loan transactions belong to the broker not the agent. Audrey points out if you want to take your clients with you if you want to leave your broker make sure to deal with that up front. Chika pointed out she was a realtor at some point, her husband was a loan officer at one point and her mother-in-law was a realtor as a profession. Audrey points out how nice it is to have a DRE Commissioner that was in the industry not just a bureaucrat. Audery points out that she learned at the California Association of Mortgage Professionals conference that the DRE will review any mortgage related advertising and work with the Broker to make it completely compliant for just $100.00. They also discussed what licensing is required for Contract processors. Commissioner Sunquist discusses one of the issues happening today is Fake lenders that brokers sign up with send loans sign up to get wholesale lines. The conversation concludes the biggest reasons for Audits and DRE actions is Trust funds issues.
Chika Sunquist was appointed Commissioner of the California Department of Real Estate (DRE) by Governor Gavin Newsom on November 28, 2023, and she assumed office on January 3, 2024.
Chika began her career with DRE in 2006 as a Deputy Commissioner in the Sacramento Enforcement office, where she investigated complaints against licensees and unlicensed persons and performed background investigations on license applicants.
In 2008, Chika transferred to DRE’s Mortgage Loan Activities unit, where she was involved in implementation of the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act and the licensing of mortgage loan originators. In 2015, she was promoted to Supervising Special Investigator over the Mortgage Loan Activities unit.
Since 2020, Chika has served as the Assistant Commissioner of Enforcement at DRE. She has been responsible for the overall management and operations of the Enforcement division.
Prior to joining DRE, Chika sold residential real estate as a real estate salesperson. She currently holds a broker license on government service.
Chika holds a Bachelor of Science degree in Languages and Linguistics from Georgetown University and an Associate of Arts degree in Administration of Justice from Sacramento City College.