Purpose


During the regular 2008 legislative session, the Florida Legislature passed House Bill 5049. This bill amends Section 494.0033, F.S., to require the Office of Financial Regulation to make available an electronic version of the mortgage broker test by December 31, 2008. Persons required to take the mortgage broker test are required to bear the actual cost for the electronic version of the test; however, the fee may not exceed $75. House Bill 5049 was signed into law (Chapter 2008-135, Laws of Florida) by Governor Crist. The proposed rules implement these statutory requirements. SUMMARY: The Office has contracted with a third party to administer the mortgage broker test. The third party will be delivering the test in an electronic format at testing centers located throughout the state at a cost to the Office of $43 per test. Any person required to take the mortgage broker test is responsible for paying for the actual cost of the test, which is $43. If a person fails the test and wishes to take the test again, the cost of the retake is $43.