Al Mccray/FSB Capital; The petition sought a declaratory statement from the Office on whether Petitioner's proposed business activities (of soliciting, processing, underwriting and submitting for funding with non-institutional investors certain ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Office of Financial Regulation has declined to rule on the petition for declaratory statement filed by Al Mccray/FSB Capital on February 11, 2016. The following is a summary of the agency’s declination of the petition:

The petition sought a declaratory statement from the Office on whether Petitioner’s proposed business activities (of soliciting, processing, underwriting and submitting for funding with non-institutional investors certain types of properties for financing consideration, via a mortgage loan. As noted in the Petition, the types of properties include a) corporate titled; b) non-owner occupied unless property is in a corporation’s name and the corporation is the mortgage loan applicant; and c) non-residential occupied unless property is in the corporations name and the corporation is the applicant. Types of corporate owned businesses include multi-family (non-owner occupied), mixed-use, retail, officer, auto repair, day care, funeral homes, beauty shops, motels/hotels, warehouse, mobile home parks, campgrounds, churches, self-storage, dry cleaner, recreational properties, raw land) fall within Florida’s Mortgage Brokerage and Lending Act, Chapter 494, Florida Statutes. On May 4, 2016, the Office of Financial issued a Final Order denying the Petition for Declaratory Statement issued; (a declaratory statement is not available to Petitioner because the facts provided in the Petition are not clearly identified or delineated, and no statutory rule, provision or order is provided.)

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] or online at https://real.flofr.com/ConsumerServices/SearchLegalDocuments/LDSearch.aspx#/searchLegalDocuments.