Mortgage Broker Branch Office Renewal and Reactivation

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

RULE NO.:RULE TITLE:

69V-40.0361Mortgage Broker Branch Office Renewal and Reactivation

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 41 No. 146, July 29, 2015 issue of the Florida Administrative Register.

69V-40.0361 Mortgage Broker Branch Office Renewal and Reactivation.

(1) In order to renew an active mortgage broker branch office license a licensee must complete submit the following requirements to the Office no later than December 31 of each calendar year in which the licensee wishes to renew the license:

(a) A completed renewal submission as required by the Registry submitted through the Registry.

(a)(b) Submit a total payment of $225 paid through the Registry to the Office.

(b) For each of the applicant’s control persons, authorize the Registry to obtain and make available to the Office an independent credit report, unless the control person is currently licensed as a loan originator.

(2) A mortgage broker office branch license that is not renewed as required in subsection (1) before January 1 of the renewal year shall revert from active to inactive status. In order to reactivate a mortgage broker branch office license, a licensee must complete submit the following requirements to the Office before March 1 of each calendar year in which the licensee wishes to reactivate the license:

(a) A completed renewal submission as required by the Registry submitted through the Registry.

(a)(b) Submit a total payment of $450 paid through the Registry to the Office which includes the following:

1. through 2. No change.

(b) For each of the applicant’s control persons, authorize the Registry to obtain and make available to the Office an independent credit report, unless the control person is currently licensed as a loan originator.

(3) through (5) No change.

Rulemaking Authority 494.0011(2), 494.0036 FS. Law Implemented 494.0011(2), 494.0036 FS. History–New______.