4672410, 69V-40.001 - Florida Administrative Rules, Law, Code, Register

Home

Florida Department of State and Division of Library and Information Services

Notice: 4672410

Notice of Proposed Rule

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

Finance

Chapter:

MORTGAGE BROKERAGE

Overview

RULE:

69V-40.001	Definitions (Repealed)
69V-40.002	Adoption of Forms
69V-40.008	Fees and Commissions
69V-40.015	Payment of Guaranty Fund Claims (Repealed)
69V-40.020	Changes of Address (Repealed)
69V-40.021	Fictitious Name Registration (Repealed)
69V-40.022	Quarterly Report Filing Requirements (Repealed)
69V-40.025	Mortgage Broker Examination (Repealed)
69V-40.027	Mortgage Broker Pre-licensing Education Requirement (Repealed)
69V-40.0271	Professional Continuing Education Requirements for Mortgage Brokers, Loan Originators, and Principal Representatives (Repealed)
69V-40.028	Permit for Mortgage Business School (Repealed)
69V-40.0281	Mortgage Business Schools Prohibited Practices and Advertising/Publicity (Repealed)
69V-40.029	Mortgage Business School Permit Renewal (Repealed)
69V-40.031	Application Procedure for Mortgage Broker License (Repealed)
69V-40.043	Mortgage Broker License Renewal and Reactivation (Repealed)
69V-40.051	Application Procedure for Mortgage Brokerage Business License (Repealed)
69V-40.053	Mortgage Brokerage Business License and Branch Office License Renewal and Reactivation (Repealed)
69V-40.058	Application Procedure for Mortgage Brokerage Business Branch Office License (Repealed)
69V-40.099	Amendments, Change of Name, Change of Entity and Change in Control or Ownership
69V-40.100	Application Procedure for Transfer in Ownership or Control of Saving Clause Mortgage Lender (Repealed)
69V-40.105	Branch Office License for Transfer in Ownership or Control of Saving Clause Mortgage Lender (Repealed)
69V-40.156	Third-party Fee Accounts
69V-40.160	Principal Brokers (Repealed)
69V-40.165	Branch Brokers (Repealed)
69V-40.170	Books and Records
69V-40.177	Mortgage Brokerage and Lending Transaction Journal (Repealed)
69V-40.200	Application Procedure for Mortgage Lender License (Repealed)
69V-40.205	Mortgage Lender License, Mortgage Lender License Pursuant to Saving Clause, and Branch Office License Renewal and Reactivation (Repealed)
69V-40.220	Application Procedure for Correspondent Mortgage Lender License (Repealed)
69V-40.225	Correspondent Mortgage Lender License and Branch Office License Renewal and Reactivation (Repealed)
69V-40.240	Application Procedure for Mortgage Lender or Correspondent Mortgage Lender Branch Office License (Repealed)
69V-40.242	Principal Representative (Repealed)
69V-40.265	Mortgage Brokerage and Lending Transaction Journal
69V-40.270	Financial Guaranty in Lieu of Uniform Single Audit
69V-40.285	Noninstitutional Investor Funds Account

PURPOSE:

Chapter 2006-213, Laws of Florida, contains amendments to chapter 494, Florida Statutes, relating to mortgage brokering and lending. The proposed rules implement and reflect the statutory changes, which pertain to the licensing and regulation of mortgage brokers, mortgage broker businesses, mortgage lenders, and mortgage business schools.

SUMMARY:

Chapter 2006-213, Laws of Florida, contains amendments to chapter 494, Florida Statutes, relating to mortgage brokering and lending. The proposed rules implement and reflect the statutory changes, which pertain to the licensing and regulation of mortgage brokers, mortgage broker businesses, mortgage lenders, and mortgage business schools. The proposed rules mandate electronic filing of forms, fees, and reports; specify the process to be followed when a person or group of persons proposes to acquire a controlling interest in a licensee; require certain persons associated with the applicant or licensee to submit biographical and fingerprint information to the Office of Financial Regulation; provide that if an application is withdrawn or denied, all fees are nonrefundable; provide that if the information contained in any application form, or in any amendment thereto, becomes inaccurate for any reason, the applicant/licensee shall file an amendment correcting such information within thirty (30) days; require mortgage business schools that are applying for a permit to submit their training materials to the Office for review; and streamline and specify other provisions relating to the licensing/permitting process. The proposed rules also authorize the Office to collect an additional $19.25 from applicants to cover the cost of performing a national criminal history background check. Outdated provisions relating to the Guaranty Fund are repealed.

RULEMAKING AUTHORITY:

215.405, 494.0011, 494.00016, 494.0029, 494.0031, 494.0032, 494.0033, 494.0034, 494.0035, 494.0036, 494.0061, 494.0062, 494.0064, 494.0065, 494.0076 FS.

LAW:

120.595, 120.60, 120.695, 494.001, 494.0011, 494.0016, 494.0017, 494.0025, 494.0029, 494.00295, 494.0031, 494.0032, 494.0033, 494.0034, 494.0035, 494.0036, 494.0038, 494.0039, 494.00331, 494.00311, 494.004, 494.0041, 494.0042, 494.0043, 494.0061, 494.0062, 494.064, 494.065, 494.066, 494.0067, 494.0072 FS.

PRINT PUBLISH DATE:

10/5/2007 Vol. 33/40

COMMENTS:

From 10/5/2007 To 10/26/2007 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.