C2 Financial Corporation; On 6/7/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from C2 Financial Corporation. The petition sought a declaratory statement from the Office on whether ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has issued an order disposing of the petition for declaratory statement filed by C2 Financial Corporation on June 07, 2018. The following is a summary of the agency's disposition of the petition:

On 6/7/2018, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from C2 Financial Corporation. The petition sought a declaratory statement from the Office on whether Chapter 494, Florida Statutes would permit Petitioner to pay a referral fee to its California employee who performs no services referenced in subsection 494.001(17) without the need for the California employee to be licensed/registered in Florida. On August 2, 2018, the Florida Office of Financial Regulation issued a Final Order on the Petition for Declaratory Statement. The Office determined that under the circumstances described, the transactions described by Petitioner amounts to directly soliciting or indirectly offering to solicit mortgage loans as contemplated within the loan originator definition under chapter 494, Florida Statutes. Therefore, the proposed activities would require “Loan Originator A” to be licensed as a mortgage loan originator pursuant to chapter 494, Florida Statutes.

A copy of the Order Disposing 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].