Louis R. Karples; The petition sought a declaratory statement from the Office on whether Petitioner's proposed business plan (to offer small mortgage loans, as a private lender would be exempt from the licensing requirements of Florida’s Mortgage ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by Louis R. Karples on January 20, 2016. The following is a summary of the agency’s disposition of the petition:

The petition sought a declaratory statement from the Office on whether Petitioner’s proposed business plan (to offer small mortgage loans, as a private lender would be exempt from the licensing requirements of Florida’s Mortgage Brokerage and Lending Act, Chapter 494, Florida Statutes.) The Office of Financial Regulation issued a Final Order on March 11, 2016. Petitioner does not qualify for exemption from licensure as a mortgage lender pursuant to Section 494.00115(2)(e), Florida Statutes, if he engages in the activities described in said Petition.

A copy of the Order Disposing of the Petition for Declaratory Statement may be obtained by contacting: the Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone].