First Up Lending LLC.; On May 22, 2019, the Florida Office of Financial Regulation issued a Final Order on Petition for Declaratory Statement. The Petition filed by First Up Lending LLC. is DENIED. A declaratory statement is not presently available ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has declined to rule on the petition for declaratory statement filed by First Up Lending LLC. on April 01, 2019. The following is a summary of the agency's declination of the petition: On May 22, 2019, the Florida Office of Financial Regulation issued a Final Order on Petition for Declaratory Statement. The Petition filed by First Up Lending LLC. is DENIED. A declaratory statement is not presently available to Petitioner because the facts provided in the Petition are not clearly identified or delineated. Any further analysis regarding the Petition is unnecessary, therefore, the Office makes no determination regarding the merits of Petitioner's arguments relating to this issue. The original petition sought a declaratory statement from the Office whether its proposed business model (to originate, fund and service loans to commercial enterprises in the amount of $500,000 to $3,000,000) falls under the Loan Originator and Mortgage Broker Statute, Chapter 494, Florida Statutes.

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

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].