Published on: 16280885. The purpose of the rule amendments is to update form titles, readopt certain NMLS forms, update Florida Department of Law Enforcement’s Livescan website link, correct grammatical errors, update fee payment amounts for licensure and clarify procedure for renewals, remove criminal background check fee requirement for control people for license renewals, set forth costs of fingerprint retention, delete and transfer the disciplinary guidelines provisions to a form incorporated into the rule entitled Disciplinary Guidelines for Mortgage Loan Originators and Mortgage Entities," revise and clarify Disciplinary Guidelines provision, amend the section of the Disciplinary Guidelines specifying mitigating and aggravating factors the Office considers in determining appropriate penalties, amend lock-in agreement subsection, amend books and records requirements, amend mortgage broker files requirements and delete penalty provisions, delete penalty provisions in mortgage lender files section, delete penalty provision in mortgage brokerage and lending transaction journal section, delete penalty provisions in Financial Guaranty in Lieu of Uniform Single Audit section; update law implemented, remove unncessary references to incorporated forms, remove obsolete statutory references in rule text, remove obsolete statutory references in law implemented section of rule text, and provide the current rulemaking authority for certain rules.
The effect of the rule amendments is to update form titles for NMLS MU1, MU2, MU3, and MU4 forms to reflect new title names, remove disciplinary guidelines from rule text and move those guidelines into a form adopted by rule into a new form entitled “Disciplinary Guidelines for Mortgage Loan Originators and Mortgage Entities,” delete requirement in 69V-40.008 which called for total fees of mortgage brokers to be stated in each contract for services, delete from 69V-40.008(5)(c) provision relating to good faith estimates, update law implemented section in 69V-40.011, update all fdle livescan weblinks to include a working web address link, provide that loan orignators must respond to requests for additional information within 45 days, correct total fee to be paid by those seeking renewal as loan originators, 69V-40.0313 establishes fingerprint retention fee as $6 as required by Chapter 494, set forth the fee and process for loan originator renewals after reactivation, remove criminal background check fee requirement of $25.25 for control people during mortgage broker licensure renewal process, removes branch office license renewal fee requirements found in 69V-40.0322, set forth the fee and process for mortgage broker license renewals after reactivation, set forth the fee and process for mortgage lender license renewals after reactivation, remove criminal background check fee requirement of $25.25 for control people during mortgage lender licensure renewal process, remove branch office license renewal fee requirements found in 69V-40.0612, specify the penalties for violating Chapter 494, specify the mitigating and aggravating factors the Office shall consider in determining appropriate penalties, specify the fines imposed for violating Chapter 494, specify the duration of suspension for violating Chapter 494, remove penalty provisions found in 69V-40.260, remove penalty provisions related to failure to maintain mortgage brokerage and lending transaction journal found in 69V-40-265, remove penalty provisions found in 69V-40.270,remove all unncessary references to word registrant, remove unncessary references to incorporated forms, remove obsolete statutory references in rule text, remove obsolete statutory references in law implemented section of rule text, correct grammatical mistakes, and provide the current rulemaking authority for the rules.
Published on: 16272349. The purpose and effect of the amended rules are to define common terms used throughout Chapter 494, FS, and Rule Chapter 69V-40, F.A.C., update form titles, update Florida Department of Law Enforcement’s website link, correct grammatical errors, update fee payment amounts for licensure and clarify procedure for renewals, remove criminal background check fee requirement for control people for license renewals, set forth costs of cost of fingerprint retention, clarify procedure for reactivation of license after failure to timely renew, transfer the disciplinary guidelines provisions to a form incorporated into the rule entitled Disciplinary Guidelines for Mortgage Loan Originators and Mortgage Entities," revise and clarify Disciplinary Guidelines subsection, amend the section of the Disciplinary Guidelines specifying the mitigating and aggravating factors the Office shall consider in determining appropriate penalties, amend lock-in agreement subsection, amend books and records requirements, amend mortgage broker files requirements and delete penalty provisions, adding a Mortgage Lender Branch Office renewal and reactivation section, adding a Reports of Condition subsection, to specify requirements for reports of condition, delete penalty provisions in mortgage lender files subsection, delete penalty provision in mortgage brokerage and lending transaction journal subsection; and delete penalty provisions in Financial Guaranty in Lieu of Uniform Single Audit subsection.
Published on: 8984157. This is the Final Public Hearing on the adoption of proposed amendments to Rule Chapter 69V-40, F.A.C., published on June 18, 2010, in Vol. 36, No. 24 of the Florida Administrative Weekly. A notice of change for these rules is also published in this edition of the Florida Administrative Weekly.; August 26, 2010, 9:00 a.m., during a regular meeting of the Financial Services Commission; Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida
Published on: 8979404. Definitions, Effect of Law Enforcement Records on Applications for Loan Originator, Mortgage Broker, and Mortgage Lender Licensure., Adoption of Forms, Demonstrating Character, General Fitness, and Financial Responsibility, Application Procedure for Loan Originator License, Loan Originator License Renewal, Application Procedure for a Mortgage Broker License, Application Procedure for a Mortgage Lender License, Mortgage Lender License Renewal, Third-party Fee Accounts, Books and Records, Mortgage Brokerage Files, Mortgage Lender Files, Noninstitutional Investor Funds Account
Published on: 8852625. Definitions, Effect of Law Enforcement Records on Applications for Loan Originator, Mortgage Broker, and Mortgage Lender Licensure., Adoption of Forms, Electronic Filing of Forms and Fees, Fees and Commissions, Demonstrating Character, General Fitness, and Financial Responsibility, Fictitious Name Registration, Quarterly Report Filing Requirements, Mortgage Broker Examination, Curriculum for Mortgage Broker Pre-licensing Classroom Education, Mortgage Broker Pre-licensing Education Requirement, Professional Continuing Education Requirements for Mortgage Brokers, Loan Originators, and Principal Representatives, Permit for Mortgage Business School, Mortgage Business Schools Prohibited Practices and Advertising/Publicity, Mortgage Business School Permit Renewal, Accreditation Process for a Mortgage Business School, Application Procedure for Mortgage Broker License, Effect of Law Enforcement Records on Applications for Mortgage Broker Licensure, Application Procedure for Loan Originator License, Loan Originator License Renewal, Application Procedure for a Mortgage Broker License, Mortgage Broker License Renewal, Disciplinary Guidelines for Mortgage Business Schools, Declaration of Intent to Engage Solely in Loan Processing, Application Procedure for a Mortgage Broker Branch Office License, Mortgage Broker License Renewal and Reactivation, Application Procedure for Mortgage Brokerage Business License, Effect of Law Enforcement Records on Applications for Mortgage Brokerage Business Licensure, Mortgage Brokerage Business License and Branch Office License Renewal and Reactivation, Application Procedure for Mortgage Brokerage Business Branch Office License, Fees Earned Upon Obtaining a Bona Fide Commitment, Application Procedure for a Mortgage Lender License, Mortgage Lender License Renewal, Application Procedure for a Mortgage Lender Branch Office License, Referrals, Amendments, Change of Name, Change of Entity and Change in Control or Ownership, Application Procedure for Transfer in Ownership or Control of Saving Clause Mortgage Lender, Branch Office License for Transfer in Ownership or Control of Saving Clause Mortgage Lender, Lock-in Statement, Third-party Fee Accounts, Principal Brokers, Branch Brokers, Books and Records, Mortgage Brokerage Files, Mortgage Brokerage and Lending Transaction Journal, Application Procedure for Mortgage Lender License, Effect of Law Enforcement Records on Applications for Mortgage Lender and Correspondent Lender Licensure, Mortgage Lender License, Mortgage Lender License Pursuant to Saving Clause, and Branch Office License Renewal and Reactivation, Application Procedure for Correspondent Mortgage Lender License, Correspondent Mortgage Lender License and Branch Office License Renewal and Reactivation, Application Procedure for Mortgage Lender or Correspondent Mortgage Lender Branch Office License, Principal Representative, Independent Contractors, Documentation of Net Worth and Surety Bond, Mortgage Lender Files, Mortgage Brokerage and Lending Transaction Journal, Noninstitutional Investor Funds Account, Acts Requiring Licensure as a Mortgage Broker, Mortgage Brokerage Business, Mortgage Lender or Correspondent Mortgage Lender
Published on: 8745149. In 2009, the Florida Legislature passed Senate Bill 2226 to bring Florida law into compliance with the federal S.A.F.E. Mortgage Licensing Act of 2008, Title V of P.L. 110-289. (See Chapter 2009-241, Laws of Florida.) In addition, during the 2010 legislation session, the Florida Legislature passed additional changes to Chapter 494, F.S. (See HB 1281, Chapter 2010-67, Laws of Florida.) These changes will take effect on October 1, 2010, which coincides with when the new licensure requirements to implement SB 2226 will take effect. The proposed changes to Rule Chapter 69V-40, F.A.C., reflect and implement the new statutory licensure requirements for mortgage loan originators, mortgage brokers and mortgage lenders; conform terminology to statutory changes; repeal rules that have been superseded by state or federal statutes; and make other changes to clarify and simplify regulations relating to mortgage brokering and lending.
Published on: 8676570. In 2009, the Florida Legislature passed Senate Bill 2226 to bring Florida law into compliance with the federal S.A.F.E. Mortgage Licensing Act of 2008, Title V of P.L. 110-289. SB 2226 was signed into law on June 29, 2009. See Chapter 2009-241, Laws of Florida. The Office of Financial Regulation is proposing rule changes to Rule Chapter 69V-40, F.A.C., to reflect the statutory changes to Chapter 494, F.S.