Florida Statutes Part I - General Provisions (Ss. 494.001-494.00296)
- 494.001 - Definitions.
As used in this chapter, the term:(1) “Borrower” means a person obligated to repay a mortgage loan and includes, but is not limited to, a coborrower...
- 494.0011 - Powers And Duties Of The Commission And Office.
(1) The office shall be responsible for the administration and enforcement of this chapter.(2) The commission may adopt rules to administer parts I, II, and III of...
- 494.00115 - Exemptions.
(1) The following are exempt from regulation under this part and parts II and III of this chapter.(a) Any person operating exclusively as a registered loan originator...
- 494.0012 - Investigations; Complaints; Examinations.
(1) The office may conduct an investigation of any person whenever the office has reason to believe, either upon complaint or otherwise, that any violation of...
- 494.00125 - Public Records Exemptions.
(1) INVESTIGATIONS OR EXAMINATIONS.—(a) Except as otherwise provided by this subsection, information relative to an investigation or examination by the office pursuant to this chapter, including any...
- 494.0013 - Injunction To Restrain Violations.
(1) The office may bring action through its own counsel in the name and on behalf of the state against any person who has violated or...
- 494.00135 - Subpoenas.
(1) The office may:(a) Issue and serve subpoenas and subpoenas duces tecum to compel the attendance of witnesses and the production of all books, accounts, records, and...
- 494.0014 - Cease And Desist Orders; Refund Orders.
(1) The office may issue and serve upon any person an order to cease and desist and to take corrective action if it has reason to...
- 494.0015 - Evidence; Examiner’s Worksheets, Investigative Reports, Other Related Documents.
In any hearing in which the financial examiner acting under authority of this chapter is available for cross-examination, any official written report, worksheet, or other...
- 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...
- 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...
- 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...
- 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...
- 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)...
- 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...
- 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...
- 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...
- 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...
- 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.
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...
- 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...
- 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...
- 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...
Last modified: September 23, 2016