The Florida Department of Banking and Finance,located in Tallahassee, Florida, handles all aspects of the mortgage license in Florida. They provide detailed information.
The complete Florida Mortgage Law can be read at: http://www.flofr.com/licensing/
To have a Mortgage Broker career in Florida you must be at least 18 years of age and pass a written examination that reflects a strong knowledge of the Florida Mortgage Brokerage and Lending Act, the Florida Fair Lending Act, the Patriot Act, all federal lending and housing regulations, complete knowledge of FHA/VA and Conventional mortgages, Fannie Mae underwriting guidelines and closing procedures, basic real estate knowledge such as surveys and deeds, plus mathematical calculations pertaining to financing.
Before taking the mortgage exam the Florida statutes requires you to take 24 hours of classroom instruction at a qualified Mortgage Business School that meets minimum accreditation requirements. In order to pass the examination, additional study time is highly recommended. After obtaining a license, the Mortgage Broker must take an additional 14 hours of continuing education classes during the next two years.
All applicants for the Mortgage Broker License must provide full legally-provided fingerprints for submission to either the Federal Bureau of Investigation or the Florida Department of Law Enforcement. Any actions pending that involve dishonest dealing, fraud, or acts of moral turpitude will be grounds for denial of the mortgage broker’s license.
The nonrefundable application fee of $200 also covers the examination. However, if the applicant needs to retake the examination, an additional fee is charged.
The Florida Association of Mortgage Brokers, an affiliate of the National Association of Mortgage Brokers (NAMB), provides meaningful information for consumers on its website, including videos of the mortgage process, important regulatory information, and down-payment assistance. The NAMB is an important connection to have as you become a Mortgage Broker in Florida.
To make an appointment to speak with an experienced and qualified attorney about your mortgage broker’s license please call Soreide Law Group at: (888) 760-6552 or visit our website at: www.floridaprofessionallicense.com .