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 […]
494.00312 – 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 […]
494.0016 – 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. […]
494.00321 – 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 […]
494.00165 – 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 […]
494.00322 – 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 […]
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 […]
494.00331 – Loan originator and loan processor employment.
494.00331 Loan originator and loan processor employment.— (1) LOAN ORIGINATORS.—An individual may not act as a loan originator unless he or she is an employee of, or an independent contractor for, a mortgage broker or a mortgage lender, and may not be employed by or contract with more than one mortgage broker or mortgage lender, or either […]