UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 30, 2008

CMR Mortgage Fund II, LLC

(Exact name of registrant as specified in its charter)

California
(State or other jurisdiction of
incorporation or organization)

000-52903
(Commission File Number)

20-0671528
(IRS Employer
Identification No.)

62 First Street, 4th Floor
San Francisco, California
(Address of principal executive offices)

94105
(Zip Code)

(415) 974-1100

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

The response to this item is incorporated by reference from Item 7.01 below.

Item 7.01 Regulation FD Disclosure.

On June 30, 2008, the CMR Mortgage Fund II, LLC newsletter for the month of June 2008 was first delivered to its members. A copy of the newsletter is attached hereto as Exhibit 99.1 and is by this reference incorporated herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 CMR Mortgage Fund II, LLC Newsletter for the month of June 2008.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CMR Mortgage Fund II, LLC

	By:	California Mortgage and Realty, Inc., its Manager


Date: June 30, 2008	By:		/s/ James Gala
			Name: James Gala
			Title: CEO/CFO

EXHIBIT INDEX

No.		Description

99.1		CMR Mortgage Fund II, LLC Newsletter for the month of June 2008.