Palm Villas Reserve, LLC.; The petition sought a declaratory statement from the Office on whether Petitioner's proposed business activities ( of offering private financing "Seller Financing" be exempt from regulation under Section 494.00115(2) part ...

 

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 Palm Villas Reserve, LLC on May 17, 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 activities ( of offering private financing “Seller Financing” be exempt from regulation under Section 494.00115(2) part III), the Florida Mortgage Brokerage and Mortgage Lending Act, Chapter 494, Florida Statutes. On June 21, 2016, the Office issued a Final Order. Petitioner, PALM VILLAS RESERVE, LLC is not required to obtain a license under Chapter 494, Florida Statutes, from the Office of Financial Regulation before pursuing the described seller financing in the State of Florida.

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], [e-mail].