Mortgage Lender License Renewal

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

RULE NO.:RULE TITLE:

69V-40.0612Mortgage Lender License Renewal

NOTICE OF CHANGE

Notice is hereby given that the following changes have been made to the proposed rule in accordance with subparagraph 120.54(3)(d)1., F.S., published in Vol. 41 No. 146, July 29, 2015 issue of the Florida Administrative Register.

69V-40.0612 Mortgage Lender License Renewal and Reactivation.

(1) In order to renew an active mortgage lender license a mortgage lender licensee must submit the following to the Office no later than December 31 of each calendar year in which the licensee wishes to renew the license:

(a) A completed renewal submission as required by the Registry submitted through the Registry.

(a)(b) Submit a payment of $575 through the Registry for the following:

1. through 2. No change.

(b)(c) Authorize the Registry to obtain and make available to the Office an independent credit report on each control person listed on the licensee’s NMLS Company Form (Form MU1).

(2) A mortgage lender license that is not renewed as required in subsection (1) before January 1 of the renewal year shall revert from active to inactive status. In order to reactivate a mortgage lender license, a licensee must submit the following to the Office before March 1 of each calendar year in which the licensee wishes to reactivate the license, a licensee must submit to the Office a total payment of $1050 paid through the Registry which includes the following:

(a) A completed renewal submission as required by the Registry submitted through the Registry.

(b) Submit a total payment of $1050 paid through the Registry which includes the following:

(a)1. $475 nonrefundable renewal fee,

(b)2. $475 nonrefundable reactivation fee; and

(c)3. $100 nonrefundable mortgage guaranty fund fee.

(3) through (7) No change.

Rulemaking Authority 494.0011(2), 494.00612 FS. Law Implemented 494.0011(2), 494.00612 FS. History–New 10-1-10,_______.