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 […]
494.00255 – Administrative penalties and fines; license violations.
494.00255 Administrative penalties and fines; license violations.— (1) Each of the following acts constitutes a ground for which the disciplinary actions specified in subsection (2) may be taken against a person licensed or required to be licensed under part II or part III of this chapter: (a) Failure to immediately place upon receipt, and maintain until authorized to […]
494.0026 – Disposition of insurance proceeds.
494.0026 Disposition of insurance proceeds.—The following provisions apply to mortgage loans held by a mortgagee or assignee that is subject to part II or part III of this chapter. (1) The mortgagee or assignee must promptly endorse a check, draft, or other negotiable instrument payable jointly to the mortgagee or assignee and the insured by the insurance […]
494.00296 – Loan modification.
494.00296 Loan modification.— (1) PROHIBITED ACTS.—When offering or providing loan modification services, a loan originator, mortgage broker, or mortgage lender may not: (a) Engage in or initiate loan modification services without first executing a written agreement for loan modification services with the borrower; (b) Execute a loan modification without the consent of the borrower after the borrower is made […]
494.0016 – Books, accounts, and records; maintenance; examinations by the office.
494.0016 Books, accounts, and records; maintenance; examinations by the office.— (1) Each licensee shall maintain, at the principal place of business designated on the license, all books, accounts, records, and documents necessary to determine the licensee’s compliance with this chapter. (2) The office may authorize maintenance of records at a location other than a principal place of business. […]
494.00165 – Prohibited advertising; record requirements.
494.00165 Prohibited advertising; record requirements.— (1) It is a violation of this chapter for any person to: (a) Advertise that an applicant shall have unqualified access to credit without disclosing the material limitations on the availability of such credit. Material limitations include, but are not limited to, the percentage of down payment required, that a higher rate or […]
494.00172 – Mortgage Guaranty Trust Fund; payment of fees and claims.
494.00172 Mortgage Guaranty Trust Fund; payment of fees and claims.—A nonrefundable fee is imposed on each application for a mortgage broker, mortgage lender, or loan originator license and on each annual application for a renewal of such license. For a loan originator, the initial and renewal fee is $20. For mortgage brokers and lenders, the initial […]
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 […]
494.0018 – 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 […]