494.0039 – Principal place of business requirements.
494.0039 Principal place of business requirements.—Each mortgage broker licensee shall maintain and transact business from a principal place of business. History.—ss. 26, 50, ch. 91-245; s. 4, ch. 91-429; s. 545, ch. 97-103; s. 15, ch. 99-213; s. 11, ch. 2006-213; s. 35, ch. 2009-241.
494.004 – Requirements of licensees.
494.004 Requirements of licensees.— (1) Each licensee under this part shall report to the office: (a) In writing, any conviction of, or plea of nolo contendere to, regardless of adjudication, any felony or any crime or administrative violation that involves fraud, dishonesty, breach of trust, money laundering, or any other act of moral turpitude, in any jurisdiction, by […]
494.0042 – Loan origination fees.
494.0042 Loan origination fees.— (1) A loan origination fee earned by a licensee, pursuant to this part, is not considered interest or a finance charge under chapter 687. (2) A person may not charge or exact, directly or indirectly, from the borrower a fee or commission in excess of the maximum fee or commission specified in this section. […]
494.0043 – Requirements for brokering loans to noninstitutional investors.
494.0043 Requirements for brokering loans to noninstitutional investors.— (1) A loan originator, when arranging a mortgage loan for a noninstitutional investor, shall: (a) Before any payment of money by the noninstitutional investor, provide an opinion of value from an appraiser stating the value of the security property unless the opinion is waived in writing. The opinion must state […]
494.0036 – Mortgage broker branch office license.
494.0036 Mortgage broker branch office license.— (1) Each branch office of a mortgage broker must be licensed under this section. (2) The office shall issue a mortgage broker branch office license to a mortgage broker licensee after the office determines that the licensee has submitted a completed application for a branch office in a form prescribed by commission […]
494.0038 – Mortgage broker fees.
494.0038 Mortgage broker fees.— (1) Any third-party fee entrusted to a mortgage broker must immediately, upon receipt, be placed into a segregated account with a financial institution located in the state the accounts of which are insured by the Federal Government. Such funds shall be held in trust for the payor and shall be kept in the […]
494.00312 – Loan originator license.
494.00312 Loan originator license.— (1) An individual who acts as a loan originator must be licensed under this section. (2) In order to apply for a loan originator license, an applicant must: (a) Be at least 18 years of age and have a high school diploma or its equivalent. (b) Complete a 20-hour prelicensing class approved by the registry. (c) Pass […]
494.00313 – Loan originator license renewal.
494.00313 Loan originator license renewal.— (1) In order to renew a loan originator license, a loan originator must: (a) Submit a completed license renewal form as prescribed by commission rule. (b) Submit a nonrefundable renewal fee of $150, the $20 nonrefundable fee if required by s. 494.00172, and nonrefundable fees to cover the cost of further fingerprint processing and […]
494.00321 – Mortgage broker license.
494.00321 Mortgage broker license.— (1) Each person who acts as a mortgage broker must be licensed in accordance with this section. (2) In order to apply for a mortgage broker license, an applicant must: (a) Submit a completed license application form as prescribed by commission rule. (b) Designate a qualified principal loan originator on the application form who meets the […]
494.00322 – Mortgage broker license renewal.
494.00322 Mortgage broker license renewal.— (1) In order to renew a mortgage broker license, a mortgage broker must: (a) Submit a completed license renewal form as prescribed by commission rule. (b) Submit a nonrefundable renewal fee of $375, the $100 nonrefundable fee if required by s. 494.00172, and nonrefundable fees to cover the cost of further fingerprint processing and […]