494.0071 – Expiration of lock-in agreement or commitment.
494.0071 Expiration of lock-in agreement or commitment.—If a lock-in agreement has been executed and the loan does not close before the expiration date of the lock-in agreement or any commitment issued consistent therewith through no substantial fault of the borrower, the borrower may withdraw the application or reject or terminate any commitment, whereupon the mortgage lender […]
494.00173 – Mortgage Guaranty Trust Fund; creation.
494.00173 Mortgage Guaranty Trust Fund; creation.— (1) The Mortgage Guaranty Trust Fund is created within, and shall be administered by, the Office of Financial Regulation. (2) Funds to be credited to the trust fund shall consist of the fee imposed pursuant to s. 494.00172 on loan originators, mortgage brokers, and mortgage lenders licensed under this chapter. Moneys in […]
494.0035 – Principal loan originator and branch manager for mortgage broker.
494.0035 Principal loan originator and branch manager for mortgage broker.— (1) Each mortgage broker must be operated by a principal loan originator who shall have full charge, control, and supervision of the mortgage broker. The principal loan originator must have been licensed as a loan originator for at least 1 year before being designated as the principal […]
494.0018 – Penalties.
494.0018 Penalties.— (1) Whoever knowingly violates any provision of s. 494.00255(1)(a), (b), or (c) or s. 494.0025(1), (2), (3), (4), or (5), except as provided in subsection (2) of this section, commits a felony of the third degree, punishable as provided in s. 775.082, s. 775.083, or s. 775.084. Each such violation constitutes a separate offense. (2) Any […]
494.0019 – Liability in case of unlawful transaction.
494.0019 Liability in case of unlawful transaction.— (1) If a mortgage loan transaction is made in violation of any provision of this chapter, the person making the transaction and every licensee, director, or officer who participated in making the transaction are jointly and severally liable to every party to the transaction in an action for damages incurred […]
494.002 – Statutory or common-law remedies.
494.002 Statutory or common-law remedies.—This chapter does not limit any statutory or common-law right of any person to bring any action in any court for any act involved in the mortgage loan business or the right of the state to punish any person for any violation of any law. History.—ss. 11, 50, ch. 91-245; s. 4, […]
494.0022 – Applicability of act.
494.0022 Applicability of act.—Failure to comply with the provisions of this chapter does not affect the validity or enforceability of any mortgage loan; and no person acquiring a mortgage loan, as mortgagee or assignee, is required to ascertain whether or not the provisions of this chapter have been complied with. History.—ss. 13, 50, ch. 91-245; s. […]
494.0023 – Conflicting interest.
494.0023 Conflicting interest.— (1) If, in a mortgage transaction, a licensee has a conflicting interest as specified in subsection (2), the licensee shall, at a minimum, provide the following disclosures to the borrower in writing: (a) The nature of the relationship, ownership, or financial interest between the provider of products or services, or business incident thereto, and the […]
494.0024 – Waiver.
494.0024 Waiver.—Unless otherwise indicated, any waiver of this chapter is unenforceable and void. History.—ss. 15, 50, ch. 91-245; s. 4, ch. 91-429.
494.0025 – Prohibited practices.
494.0025 Prohibited practices.—It is unlawful for any person: (1) To act as a loan originator in this state without a current, active license issued by the office pursuant to part II of this chapter. (2) To act as a mortgage broker in this state without a current, active license issued by the office pursuant to part II of […]