Florida Statutes Part III - Mortgage Lenders (Ss. 494.00611-494.0077)
- 494.00611 - Mortgage Lender License.
(1) Each person who acts as a mortgage lender must be licensed under this section.(2) In order to apply for a mortgage lender license, an applicant must:(a) Submit...
- 494.00612 - Mortgage Lender License Renewal.
(1) In order to renew a mortgage lender license, a mortgage lender must:(a) Submit a completed license renewal form as prescribed by commission rule.(b) Submit a nonrefundable renewal...
- 494.0063 - Audited Financial Statements.
All audited financial statements required by this chapter must be prepared by an independent licensed certified public accountant. A mortgage lender must obtain an annual...
- 494.0066 - Branch Offices.
(1) Each branch office of a mortgage lender must be licensed under this section.(2) The office shall issue a branch office license to a mortgage lender after...
- 494.00665 - Principal Loan Originator And Branch Manager For Mortgage Lender.
(1) Each mortgage lender business must be operated by a principal loan originator who shall have full charge, control, and supervision of the mortgage lender business....
- 494.0067 - Requirements Of Mortgage Lenders.
(1) A mortgage lender that makes mortgage loans on real estate in this state shall transact business from a principal place of business. Each principal place...
- 494.0069 - Lock-in Agreement.
(1) Each lock-in agreement must be in writing and must contain:(a) The expiration date of the lock-in, if any;(b) The interest rate locked in, if any;(c) The discount points...
- 494.007 - Commitment Process.
(1) If a commitment is issued, the mortgage lender shall disclose in writing:(a) The expiration date of the commitment;(b) The mortgage amount, meaning the face amount of credit...
- 494.0071 - Expiration Of Lock-in Agreement Or Commitment.
If a lock-in agreement has been executed and the loan does not close before the expiration date of the lock-in agreement or any commitment issued...
- 494.00721 - Net Worth.
(1) The net worth requirements in s. 494.00611 shall be continually maintained as a condition of licensure.(2) If a mortgage lender fails to satisfy the net worth...
- 494.0073 - Mortgage Lender When Acting As A Mortgage Broker.
The provisions of this part do not prohibit a mortgage lender from acting as a mortgage broker. However, in mortgage transactions in which a mortgage...
- 494.0074 - Lender Fees And Charges.
(1) In a mortgage financing transaction, fees designated as loan origination fees, up to 4 percent of the face amount of the loan or line of...
- 494.0075 - Requirements For Selling Loans To Noninstitutional Investors.
(1) A mortgage lender, when selling a mortgage loan to a noninstitutional investor, shall:(a) Before any payment of money by a noninstitutional investor, provide an opinion of...
- 494.0076 - Servicing Audits.
(1)(a) Each licensee under this part who services mortgage loans shall:1. Maintain a segregated set of records for accounts that are serviced by the licensee.2. Have a separate,...
- 494.0077 - Other Products And Services.
This part does not prohibit a mortgage lender from offering, for a fee or commission, products and services in addition to those offered in conjunction...
Last modified: September 23, 2016