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 […]
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 […]